International Institutions of International Finance

Felix I. Lessambo
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Felix I. Lessambo: Fordham University

Chapter Chapter 2 in International Finance, 2021, pp 7-27 from Springer

Abstract: Abstract For very long the Bretton Woods institutions provided the architecture of international financial institutions. The post-Bretton Woods era which started in 1973 has altered the mandates of the two key institutions: The IMF was assigned new roles in international monetary system, and the World Bank champions the fight against poverty in order to lift up its member countries in the path of sustainable economic growth. However, the governance of these two institutions has frustrated developing countries (BRICS) to develop parallel institutions: The new Development Bank, and The Asian Infrastructure Investment Bank, which have extended the framework of international financial institutions.

Date: 2021
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DOI: 10.1007/978-3-030-69232-2_2

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