The Bretton Woods system is a series of uniform rules and guidelines that have provided the framework for the creation of fixed international exchange rates. Essentially, the agreement called on the new IMF to set the fixed exchange rate for currencies around the world. Each country represented assumed responsibility for maintaining the exchange rate, with incredibly narrow margins above and below. Countries struggling to stay within the fixed exchange rate window could ask the IMF for an adjustment in interest rates for which all allied countries would then be responsible. A fund is made available to the IMF, consisting of contributions from member countries in gold and their own currencies. The initial quotas totaled $8.8 billion. In the event of IMF membership, members are given « quotas » that reflect their relative economic power – and which, as a kind of credit contribution, are obliged to pay a « subscription » equal to an amount equivalent to the quota. You pay the subscription as 25% convertible into gold or convertible currency into gold (in actual terms the dollar which, at the time of creation, was the only currency still directly convertible for central banks) and 75% in their own currency. Predicting and assessing the balance of the positive and negative elements of each scenario. The choice of the optimal scenario, based on the objective of development research, the timing of its implementation, the social acceptance of the various actions, the internal and external constraints that multidimensionally influence the implementation of each scenario, has suffered from a huge shortage of dollars for post-war global capitalism. The U.S. had huge trade surpluses and U.S.
reserves were huge and growing. It was necessary to reverse this river. Although all nations wanted to buy U.S. exports, the dollars had to leave the United States and be available for international use so that they could do so. In other words, the United States should reverse global prosperity imbalances by chartering a trade deficit financed by the U.S. outfed of reserves to other nations (a deficit in the U.S. fiscal balance). The United States could have a financial deficit, either by building plants, or by building plants, or by foreign nations. Remember that speculative investments were discouraged by the Bretton Woods agreement.
Imports from other nations were not attractive in the 1950s because American technology was up to date at that time. This is how multinationals and global aid from the United States originated.  The attempt to maintain this link failed in November 1968 and attempts were made to transform Bretton Woods into a system in which the enforcement mechanism was put into circulation by certain means defined either by Fiat or by a restriction on the honour of foreign accounts. The IMF has drawn up a gold and currency pool for the IMF to be used in the event of balance-of-payments difficulties, a quota system that will be adjusted every five years. The quota determined the country`s drawing rights and also its vote within the institution. Countries could exchange certain amounts of their currencies for those of other countries, under IMF-supervised conditions. The aim of the conference was to avoid the resurgence of closed markets and the economic wars that characterized the 1930s. Thus, the Bretton Woods negotiators agreed on the need for an institutional forum for international monetary cooperation.