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The League of Nations
The League of Nations started in October 1918. -
Italy Attacked Fiume
In Italy 1919, for fifteen months Fiume was governed by an Italian, d’Annunzio. But Italy attacked Fiume and forced surrender. In other words, this is seen as a failure for the League because the organization was supposed to enforce peace. -
Conflict between Sweden and Finland
In 1921, on the Aaland Islands Sweden and Finland could not determine who would get the islands. So both countries asked the League to choose. The League decided that Finland should occupy the islands but no weapons should be kept. To this day, the deal remains intact. -
Red Army Invasion
The League of Nations expelled the Soviet Union when the Red Army invaded on November 30, 1939 -
Establishment of the World Bank
Delegates from 44 countries began meeting at Bretton Woods, N.H., where they agreed to establish the International Monetary Fund and the World Bank. The US hosted an international conference at Bretton Woods, N.H., to deal with international monetary and financial problems. The talks resulted in the creation of the International Monetary Fund (IMF) and the World Bank in 1945. -
Signing Ceremony of the Charter
The signing ceremony of the Charter in San Francisco. -
Birth of United Nations
The United Nations officially came into existence on 24 October 1945, when the UN Charter had been ratified by a majority of the original 51 Member States. -
The General Agreement on Tariffs and Trade
The General Agreement on Tariffs and Trade (GATT) was first signed to supplement the IMF. The agreement was designed to provide an international forum that encouraged free trade between member states by regulating and reducing tariffs on traded goods and by providing a common mechanism for resolving trade disputes. -
The Special Drawing Right
The Special Drawing Right (SDR) was created by the IMF to support the Bretton Woods fixed exchange rate system. It was created to supplement the existing official reserves of member countries. SDRs are allocated to member countries in proportion to their IMF quotas. The SDR also serves as the unit of account of the IMF and some other international organizations. Its value is based on a basket of key international currencies. -
Britain under PM Callaghan
Britain under PM Callaghan applied to the IMF for a loan of $3.9 billion. -
IMF lent Mexico $3.8 billion
IMF lent Mexico $3.8 billion due to threatened bankruptcy. The Mexican economy began to be run under the guidance of the World Bank and the Int’l. Monetary Fund. -
The First Associate Member
The Group of Seven finance ministers and central bankers, meeting in London, agreed that the Soviet Union should become the first associate member of the International Monetary Fund. -
Russia and others won entry into the IMF
Russia and 12 other former Soviet republics won entry into the International Monetary Fund and the World Bank. -
WTO Financial Deal
In 1997, 70 members of WTO made a financial deal which covered 95% of trade in banking, insurance, securities, and financial information. -
World Trade Organization
The World Trade Organization started in 1995
