It not only monitors the freedom of trade in goods but also in services, and its scope also includes all aspects of the protection of intellectual, literary, and artistic property and other rights. There is an important body within the organization for settling trade disputes between member countries. The World Bank deals with development issues, while the IMF deals with financial and monetary stability. As for the GATT organization, it sought to ensure the freedom of international trade through rules and standards to which its members were committed. The Bank and the Fund provide loans, while the GATT organization was replaced by the World Trade Organization (WTO) in 1995 because the latter's tasks are much broader. *Louis Habib The Bretton Woods institutions have been regulating the world economy since 1945, and to this day there are no alternatives to them.
