THE Breton Woods institutions; the International Monetary Fund (IMF), and the World Bank, so-called since they came into being as a result of the UN (being referred to as a UN conference at a time when the UN had not yet come into being was indicative of the fact that the UN was already a course chosen for the future and that international reconstruction would function under it Monetary and Financial Conference held at Breton Woods, New Hampshire in July 1944. It is interesting to note that this conference essentially focused on the international effort necessary towards the reconstruction of post-war Europe, while the war had not yet ended. The IMF was assigned the more difficult task of ensuring global economic stability.