The architects of Bretton Woods had devised a system in which exchange rate stability was a priority. But in an era of more activist economic policy, governments have not seriously considered permanent interest rates, modelled on the classic gold standard of the 19th century. Gold production has not even been sufficient to meet the demands of growth in international trade and investment. In addition, much of the world-famous gold reserves were in the Soviet Union, which was to emerge as a Cold War rival with the United States and Western Europe. The Bretton Woods rules, set out in the articles of the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), provide for a fixed exchange rate system. The rules also aimed to promote an open system by requiring members to convert their respective currencies into other currencies and to make free trade. Contracts for the sale of real estate, even if not all formalities have been completed, provided that the delivery actually took place before the date on which the parties became enemies within the meaning of Section 82. Leases and leases of land and houses between individuals. Contracts between individuals for the exploitation of mines, forests or agricultural goods. Mortgage contracts, mortgages or mortgages. Contracts that constitute corporations, with the exception of “partnerships,” which are not separated from the unit of the persons who make them up (partnerships) under the law to which they are subject. Contracts, whatever their purpose, between individuals or businesses and the state, provinces, municipalities or other similar legal entities responsible for administrative tasks. Civil status contracts.

Contracts for gifts or bounties of any kind. This section cannot be used to confer a different validity on contracts than they themselves had at the time of the conclusion. Without prejudice to the provisions of the Schedule ii of this part, it is agreed that payments made under a pre-war treaty, made in whole or in part in a currency other than that covered by this treaty, can be made by handing over the sums actually recovered, in the currency in which they were collected. This provision does not affect comparisons that are inconsistent with the above provisions, entered into by a voluntary agreement between the parties prior to the entry into force of this contract. About 730 delegates from 44 countries met in Bretton Woods in July 1944 with the main objective of creating an effective exchange rate system, preventing competitive currency devaluations and promoting international economic growth.

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