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e to help each developing country to move towards the path of stable, sustainable, and equitable growth in the order to fight against poverty. Its goals are to eliminate the worst forms of poverty and to improve living standards. It supports the restructuring process of economies and provides capital for productive investments. Furthermore, it encourages foreign direct investment by making guarantees or accepting partnerships with investors. The World Bank’s aims are to keep payments in developing countries balanced and to foster international trade. It is active in more than 100 developing economies. It forms assistance strategies by cooperating with government agencies, non-governmental institutions and private enterprises. It offers financial services, analytical, advisory, and capacity building.

The conference was organized in the American resort village of Bretton Woods, New Hampshire. Treasuries of the United Kingdom and the United States had been culminated the monetary standard for two and a half years. Even though the conference was attended by all 44 allied nations, plus one neutral government -- Argentina, the conference discussion was dominated by two rival plans developed -- Harry Dexter White of the U.S. Treasury and John Maynard Keynes of Britain respectively. The ultimate compromise was much closer to White's plan than to that of Keynes, which reflected the overwhelming power of the United States although World War II was nearly came to the end.

Although the differences between the White and Keynes plans was quite large during that time, especially with regarding to the issue of future access to international liquidity in retrospect it is their similarities rather than their differences that appear most striking. In fact, there was much common ground among all the participating governments at Bretton Woods. All agreed that the monetary chaos of the interwar period had yielded several valuable lessons. All were determined to avoid repeating what they perceived to be the errors of the past. Their consensus of judgment was reflected directly in the Articles of Agreement of the International Monetary Fund.

There were four points being stand out which are listed as below:

Negotiators generally agreed that, to them, conclusively proved that the exchange rate during the two world wars and the fundamental shortcomings of unrestrained flexibility. 30 years of the 20th century is considered a floating exchange rate system has to stop trade and investment, encouraging the destabilizing speculation and competitive devaluations. However, a more radical economic policies, the government at the same time to go back to the 19th century, the classical gold standard model of a permanent fixed rate. Policy makers understand the wish to retain the right to require the revision of the occasion as a monetary value. Therefore a compromise between, either freely floating or irrevocably fixed rates polarity selection - some arrangements may be given against any of the shortcomings of both worlds.

What emerged is a 'link rate' or 'adjustable peg currency system, also known as the par value system. Members of the obligation to declare par value (1 'hanging') is the national currency, and to intervene in currency markets to limit exchange rate fluctuations in the maximum profit (a 'band') 1% above or below parity, but they also keep rights and, where necessa