Bretton Woods Committee

The Bretton Woods Committee is an American organization created in 1983 as a result of the agreement between U.S. Secretary of the Treasury, Henry Fowler, and U.S. Deputy Secretary of the Treasury, Charls Walker – at the time a Democrat and a Republican, respectively. The agreement they arrived upon 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.[1] 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".[2]

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, along with demonstrating the importance of international economic cooperation and fostering collaboration among institutions.[3]

The Committee is described as being nonpartisan and composed of notable individuals, more specifically members of the Committee who claim to work and agree upon the significance of international economic synergy which in their view results in well-functioning, adept Bretton Woods Institutions that move to create universal economic progress.[1]

Activities

The Committee is based in 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.[1]

Members

The Committee is composed of financiers, economists, politicians, business leaders[3] and distinguished members of the academic community[1] 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. "Bretton Woods Committee". Global Criterion Solutions Limited. Archived from the original on March 22, 2016. Retrieved July 15, 2013.
  2. "United Nations Programmes for Africa Bretton Woods Institutions". Office of the Special Coordinator for Africa and the Least Developed Countries. The United Nations, July 30, 2001. Retrieved July 24, 2013
  3. Kvint, Vladimir. "The Emerging Global Business Order, The Bretton Woods Committee". The Global Emerging Market: Strategic Management and Economics. New York: Routledge, 2009. 246–247. Print.
  4. "Bretton Woods Committee web site". Retrieved October 25, 2019.
  5. Miller, Mary J. (July 26, 2012). "Navigating Transformational Change of the Global Financial Landscape: Realizing Systemic Stability, Avoiding Unintended Consequences". U.S. Department of Treasury Press Center. Retrieved July 16, 2013.
  6. Schroeder, Peter; Needham, Vicki (July 20, 2013). "This week: House, Senate plant seeds for farm bill deal". The Hill. On the Money: The Hill's Finance and Economy Blog.
  7. Office of the Spokesman (June 9, 2003). "2003 Bretton Woods Committee Annual Meeting Notice to the Press" (Press release). 2003 Bretton Woods Committee Annual Meeting. U.S. Department of State. Retrieved July 15, 2013.CS1 maint: location (link)
  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". Archived March 4, 2016, at the Wayback Machine. International Monetary Fund. Peter G. Peterson Institute for International Economics, July 10, 2001. Retrieved July 15, 2013.
  9. The Bretton Woods Committee. "Future Trends in Capital Flows: Opportunities and Challenges in Emerging Markets, April 3rd, 2013". 4-traders, May 27, 2013. Retrieved July 23, 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. 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, September 18, 2006. Retrieved July 15, 2013.
  12. "Navigating Transformational Change of the Global Financial Landscape Realizing Systemic Risk, Avoiding Unintended Consequences". Archived August 6, 2013, at the Wayback Machine. Deloitte Development LLC, July 26, 2012. Retrieved July 24, 2013.
  13. Talley, Ian (May 17, 2012). "Barclays Global Research Head: Greek Euro Exit Likely". The Wall Street Journal. Retrieved July 24, 2013.
  14. Administrator. "Working with Bretton Woods Institutions". Global Envision Latest Stories. Global Envision, December 8, 2005. Retrieved July 23, 2013.
  15. "Leadership and Secretariat". Bretton Woods Committee. Retrieved October 25, 2019.
  16. 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.
  17. "Personal Members". Bretton Woods Committee. Retrieved October 25, 2019.
  18. 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, June 9, 2003. Retrieved July 23, 2013.
  19. Clarity, James F.; Weaver, Warren, Jr. (January 24, 1986). "BRIEFING; Mirth". The New York Times. Retrieved July 24, 2013.
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