In New Hampshire in the United States in July 1944.
In New Hampshire in the United States in July 1944:
Lord Keynes (right) and Harry Dexter White, father of the World Bank and IMF. The image is taken from the birthplace of both of the organizations, Bretton Woods.
In July 1944, the United Nations Monetary and Finance Conference was held at Bretton Woods, New Hampshire, USA. And at the conference, it was decided to create two institutions: International Bank or World Bank for IMF and reconstruction and development. Although there were many other countries represented in this conference, there was obvious prevalence of the United Kingdom and United States in the bargain. [7]: 52-54
Traditionally, the head of the IMF was elected from the European countries and the United States from the United States was elected chief of the World Bank.
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