The IMF mandates comprehensive structural adjustment policies for affected Asian countries, including Indonesia, South Korea, and Thailand. These policies involve privatization, trade liberalization, and financial deregulation, fundamentally transforming local economic structures to benefit …
US Treasury Secretary William Simon negotiated a pivotal agreement with Saudi Arabia that established the petrodollar recycling system, fundamentally reshaping global monetary dynamics. Simon convinced Saudi Arabia to sell oil exclusively in US dollars and invest oil revenues in US Treasury bonds, …
William SimonAhmed Zaki YamaniRichard NixonKing FaisalHenry Kissinger+2 morepetrodollar-systemmonetary-policyoil-politicsfinancial-systeminternational-finance
Delegates from 44 allied nations convene at Bretton Woods, New Hampshire to design the postwar international monetary system. The conference establishes the International Monetary Fund and World Bank, fixing global currencies to the dollar and the dollar to gold at $35/ounce. This institutionalizes …
U.S. TreasuryHarry Dexter WhiteJohn Maynard KeynesInternational Monetary FundWorld Bankinternational-financedollar-hegemonystructural-adjustmentcorporate-globalizationfinancial-institutions