Glossary

Definitions of terms used throughout CountryReports.

This glossary contains 1,144 terms used throughout CountryReports — political, economic, cultural, historical, and geographic terminology referenced in country profiles and articles. Terms are drawn from authoritative sources including the Library of Congress.

Bretton Woods System: A structure of fixed exchange rates developed at the 1944 Bretton Woods Conference, which established the International Monetary Fund (q.v.) and the World Bank (q.v.). The Bretton Woods System was in effect until 1971.
European Monetary System (EMS): Established in 1979 by the European Economic Community (EEC--q.v.), the EMS was created to stabilize currency values because the Bretton Woods system (q.v.) proved not fully satisfactory. All European Union (EU--q.v.) countries are EMS members. The EMS is to be succeeded by the European Monetary Union (EMU--q.v.).
International Bank for Reconstruction and Development (IBRD): Formal name for the World Bank Group (q.v.) which was conceived at the Bretton Woods Conference on July 22, 1944, and began operations in June 1946. Its primary purpose is to provide technical assistance and loans at market-related rates of interest to developing countries at more advanced stages of development.; Source: Library of Congress