January 22, 2024

Created in the aftermath of World War II, the World Bank and the International Monetary Fund (IMF)—referred to here as the Bretton Woods institutions—have played an important role in the international financial architecture of the modern era. Because they sit at the heart of that system, these institutions have been constantly buffeted by the cross-cutting forces of geopolitics, economic policy aims, and financial markets. Predictably, no one is happy. It is time to get back to basics.

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