In New Hampshire’s White Mountains 77 years ago, the leaders of 44 nations met to chart the course of the international monetary system. At what became known as the Bretton Woods Conference, the United States played a pivotal role in the creation of the International Monetary Fund (IMF) and the World Bank.
Now, with the world reeling from wave after wave of the COVID-19 pandemic, robust U.S. leadership at these international financial institutions is more important than ever. Washington is the largest contributor to these institutions and their largest shareholder. Consistent with that role, the United States spearheaded last year’s efforts to promote financial stability and economic resilience in the face of global devastation wrought by the pandemic.
