Word: bretton
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...modernize the IMF, which France (and some other countries) believes to be dominated by the U.S., although its chairman is Frenchman Pierre-Paul Schweitzer. The IMF has been uniquely successful in spurring orderly growth in world commerce, but it has not been basically changed since its founding at Bretton Woods, N.H., 20 years ago. By posing as the helpful repairman anxious to correct this oversight, Charles de Gaulle hopes to gain more power for France in world monetary circles. Many U.S. financial leaders believe that France wants to transfer some of the IMF's money and credit powers...
...further undermining the dollar, the U.S. took three actions. It set higher interest rates on short-term borrowing, put indirect controls on longer-term exports of U.S. money, and surprisingly indicated a readiness to borrow from the International Monetary Fund, which the U.S. originally helped to set up at Bretton Woods in 1944 to bail out poorer foreign countries...
...their headstrong hurry to build plants atop plantations, many of the world's developing nations go for broke-and could end up there. When they get in a jam, they usually turn to a club of worldly bankers called the International Monetary Fund, set up at the Bretton Woods conference in 1944 to give emergency, short-term aid to ailing economies. The IMF has become a powerful and controversial force in the world economy, forcing upon loan-seeking nations stiff conditions that frequently rescue their economies but gall their free-spending politicians. With loans at work in 24 developing...
...mechanization, went back to economics as a director of Peru's Reserve Bank, making it into a modern central bank. He dabbled in journalism as holder of controlling interest in a struggling little newspaper called La Prensa. World War II took him to the U.S.: Washington (as ambassador), Bretton Woods (to help organize the World Bank), San Francisco (to help set up the U.N.). Returning to Peru, he built La Prensa along U.S. newspaper lines into the most influential daily in Lima. He at first supported the army dictatorship headed by Manuel Odria, then helped persuade Odria to eliminate...
They were agreed that the World Bank, born 14 years ago at Bretton Woods, N.H., had played a vital role...