The major outcome of the Bretton Woods Conference was the establishment of:

Answer Details

The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was held in July 1944 in Bretton Woods, New Hampshire, USA. Its major outcome was the establishment of two key international financial institutions: the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), commonly known as the World Bank.

The conference was attended by delegates from 44 Allied nations who sought to create a stable international monetary system to prevent the economic chaos that had contributed to the Great Depression and World War II. The IMF was designed to promote international monetary cooperation, exchange rate stability, and provide short-term financial assistance to countries facing balance-of-payments difficulties. The World Bank was created to provide long-term loans for reconstruction and development, initially focusing on war-torn Europe and later on developing nations.

The League of Nations was established after World War I (1920) and had nothing to do with Bretton Woods. The United Nations was established in 1945 through the San Francisco Conference, a separate initiative. The European Union evolved from the European Coal and Steel Community (1951) and the Treaty of Rome (1957), decades after Bretton Woods.

The correct answer is the IMF and World Bank, as these were the institutions directly created by the Bretton Woods Conference.