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The IMF was established. An important component of the Bretton Woods agreements was the creation of two new international financial institutions the International Monetary Fund IMF and the International Bank for Reconstruction and Development IBRD.
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Money creation or money issuance is the process by which the money supply of a country or of an economic or monetary region is increased.
. The Bretton Woods report argues that one crucial step would be for governments to create a unified transparent database of their debts. Collectively referred to as the Bretton Woods institutions they became operational in 1947 and 1946 respectively. In most modern economies money creation is controlled by the central banksMoney issued by central banks is termed base moneyCentral banks can increase the quantity of base money directly by engaging in open market operations.
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