In the aftermath of the Second World War, the United Nations Monetary and Financial Conference,famously held in Bretton Woods, New Hampshire created two major institutions. The International Monetary Fund (IMF) would be charged with managing the international system of exchange rates. In contrast, the International Bank of Reconstruction and Development(IBRD), which would be charged with securing funding for the reconstruction of war-tornEuropean countries. However, the era of decolonization witnessed a shift in its focus away from reconstruction and towards development assistance. Intime, the pendulum swung back. The increased prevalence of domestic armedconict in developing countries has forced are-assessment (Kreimeretal 1998). Bestexemplied by the 2003report Breaking theConict Trap , written under World Bank auspices by a team led by Oxford economist Paul Collier, the Bank has come to understand civilconict and development as inextri- cablylinked (Collier et al 2003). Conict, in this view, is'development in reverse', and poor economic performance is a primary factor leading to the grievances that fuelconict. Breaking this trap, therefore, requires that the Bank uses its expertise to facilitate economic development to preventconict in the rstplace, and to foster the conditions required for successful economic recovery in post-conict situations so as to prevent recidivism. This has necessitated the Bank togo beyond its original focus on rebuilding physical capital to a more holistic vision of community rehabilitation, institutional development, and macroeconomic.
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