The Bretton Woods Committee

Creation of Committee


After the 1944 Bretton Woods Conference, the International Monetary Fund and World Bank were established; they are now often referred to as "Bretton Woods Institutions".[1] In 1983 the Bretton Woods Committee was created at the suggestion of former U.S. Secretary of the Treasury, Henry Fowler, and former U.S. Deputy Secretary of the Treasury, Charls Walker – a Republican and Democrat, respectively. The consensus they arrived at was that world leaders should express to the public the significance of international finance institutions (IFIs), like the Bretton Woods Institutions, and how important it was for their prominence in the world to be maintained.[2]

Main Objectives


The original goal of the Committee was to improve the awareness of the World Bank, International Monetary Fund, World Trade Organization, and other major development banks and their actions to accelerate economic growth, lessen poverty, and increase financial stability.[3]

Current Affairs

Introduction

Currently, the Committee works to be nonpartisan and is composed of notable individuals-more specifically members of the Committee agree upon the significance of international economic cooperation, which in their view results from well-functioning, adept Bretton Woods Institutions that move to create universal economic progress.[2]

Activities

The Committee is based out of Washington, D.C.,[4] and continues to host events relevant to the shared interests of its members at various academic institutions,[5] government establishments, such as Capitol Hill,[6] the U.S. Department of State,[7] the IMF[8] and related locations[9] pertaining to their goals.

Meetings and Events

The Committee regularly holds events at various locations related to their goals in spreading awareness of major IFIs, including an Annual Meeting,[10] the International Council Meeting,[11] educational briefings, round table discussions, events at academic institutions[12] and related events.[13] The two purposes of these events is to first reach a general audience regarding the current actions of the IFIs and the magnitude they have on the global economy. The second is to give members an opportunity to share their opinions and critiques of current management of the IFIs. The Committee in addition informs U.S. government officials of the presumed correlation between global economic advancement and national security.[2]

Members

Types of Memberships

The Committee is composed of financiers, economists, politicians, business leaders[3] and distinguished members of the academic community[2] from the U.S. and abroad. A subsidiary of the Committee, referred to as the International Council, includes members outside of the U.S. who aim to advance and observe the work of Bretton Woods institutions and political officials of countries that council members are from/involved in, and in addition submit advice when appropriate.[3]

Some of the current leadership/members of the Committee include:

References

  1. ↑ "United Nations Programmes for Africa Bretton Woods Institutions". Office of the Special Coordinator for Africa and the Least Developed Countries. The United Nations, 30 July 2001. Retrieved 24 July 2013
  2. 1 2 3 4 "Bretton Woods Committee". Global Criterion Solutions Limited. Retrieved 15 July 2013.
  3. 1 2 3 Kvint, Vladimir. "The Emerging Global Business Order, The Bretton Woods Committee." The Global Emerging Market: Strategic Management and Economics. New York, NY: Routledge, 2009. 246-47. Print.
  4. ↑ "Google Maps. Map. Google Plus. Google, n.d. Retrieved 16 July 2013
  5. ↑ Remarks of Under Secretary Miller at an event hosted by the Bretton Woods Committee.... U.S. Department of Treasury. Press Center. 26 July 2012. Retrieved. 16 July 2013.
  6. ↑ Schroeder, Peter, and Vicki Needham. "This Week: House, Senate Plant Seeds for Farm Bill Deal". Rev. of The Week's Various Activities at the Hill. Weblog post. On the Money: The Hill's Finance and Economy Blog. The Hill, 13 May 2013. Retrieved 20 July 2013.
  7. ↑ Office of the Spokesman. U.S. Department of State. 2003 Bretton Woods Committee Annual Meeting Notice to the Press. 2003 Bretton Woods Committee Annual Meeting. U.S. Department of State Archive, 9 June 2003. Retrieved 15 July 2013. <http://2001-2009.state.gov/r/pa/prs/ps/2003/21347.htm>.
  8. ↑ Fischer, Stanley. "Remarks by Stanley Fischer Acting Managing Director International Monetary Fund Given at the Bretton Woods Committee Meeting Washington, D.C. April 4th, 2000". International Monetary Fund. Peter G. Peterson Institute for International Economics, 10 July 2001. Retrieved 15 July 2013.
  9. ↑ The Bretton Woods Committee: "Future Trends in Capital Flows: Opportunities and Challenges in Emerging Markets Wed. April 3rd, 2013." News. 4-traders, 27 May 2013. Retrieved 23 July 2013.
  10. ↑ Wolfensohn, James D. "Remarks to the Bretton Woods Committee Annual Meeting". News and Broadcast. The World Bank, 12 June 2003. Retrieved 23 July 2013.
  11. 1 2 3 Carstens, Agustín. "Remarks at Bretton Woods Committee Annual International Council Meeting by Agustín Carstens, Deputy Managing Director, IMF, Mandarin Oriental Hotel—Atrium Suite (Lobby) Singapore". International Monetary Fund, 18 Sept. 2006. Retrieved 15 July 2013.
  12. ↑ "Navigating Transformational Change of the Global Financial Landscape Realizing Systemic Risk, Avoiding Unintended Consequences". Deloitte. Deloitte Development LLC, 26 July 2012. Retrieved 24 July 2013.
  13. ↑ Talley, Ian. "Barclays Global Research Head: Greek Euro Exit Likely". The Wall Street Journal. Dow Jones & Company, 17 May 2012. Retrieved 24 July 2013.
  14. 1 2 Administrator. "Working with Bretton Woods Institutions". Global Envision Latest Stories. Global Envision, 8 Dec. 2005. Retrieved 23 July 2013.
  15. 1 2 Wolfensohn, James D. "More Focus on the Social Sector." Voice for the World's Poor: Selected Speeches and Writings of World Bank President James D. Wolfensohn 1995-2005. Washington, D.C.: International Bank for Reconstruction and Development/The World Bank, 2005. 145. Print.
  16. ↑ Office of the Spokesman. U.S. Department of State. 2003 Bretton Woods Committee Annual Meeting. 2003 Bretton Woods Committee Annual Meeting. U.S. Department of State Archive, 9 June 2003. Retrieved 23 July 2013.
  17. ↑ Clarity, James F., and Warren Weaver, Jr. "BRIEFING; Mirth". New York Times 24 January 1986: 1. The New York Times. The New York Times, 24 January 1986. Retrieved 24 July 2013.
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