For more than 80 years, the international financial system has evolved through cooperation and efforts to overcome crises from the post-World War II era to the challenges of today’s rapidly changing global economy.

July 1944 — The Birth of Bretton Woods
Representatives from 44 countries gathered in Bretton Woods, New Hampshire, United States, to lay the foundations for a new global financial system. The conference paved the way for the establishment of the International Monetary Fund (IMF) and the World Bank Group, founded by two key persons: Harry Dexter White of the United States and John Maynard Keynes of the United Kingdom.

September 1946 — First Annual Meetings
The first Annual Meetings were held in Washington, D.C., to establish the institutions’ organizational structures and operating mechanisms. The following year, in 1947, the meetings were held outside the United States for the first time, in London, with a focus on supporting Europe’s post-war recovery.

May 1949 — Thailand Joins the IMF and World Bank Group
Thailand became a member of the IMF and the World Bank Group under the Government of Field Marshal Plaek Phibunsongkhram. Prince Vivadhanajaya, Minister of Finance, and Leng Srisomwong, Governor of the Bank of Thailand, played important roles in laying the foundations for Thailand’s international monetary and financial policies.

August 1971 — The “Nixon Shock” Ends the Bretton Woods System
US President Richard Nixon announced the suspension of the US dollar’s convertibility into gold, effectively ending the Bretton Woods fixed exchange-rate system and paving the way for the transition toward floating exchange rates.

October 1991 — Thailand Hosts the Annual Meetings for the First Time
Thailand hosted the IMF–World Bank Group Annual Meetings in Bangkok for the first time under the Government of Prime Minister Anand Panyarachun, with Suthee Singhaseni serving as Minister of Finance and Wijit Supinit as Governor of the Bank of Thailand. The event also marked the official opening of the Queen Sirikit National Convention Center.

1997 — Asian Financial Crisis: A wake-up call for financial reform & strong reserves
Thailand was hit by the financial crisis widely known as the “Tom Yum Kung” crisis and entered an IMF-supported assistance program. The crisis subsequently spread across Asia, highlighting the urgency of financial-sector reform and the importance of foreign exchange reserves.

October 2026 — Thailand Hosts the Annual Meetings Again After 35 Years
Thailand is one of only three countries in the world to host the IMF–World Bank Group Annual Meetings twice. The 2026 Annual Meetings will take place at the Queen Sirikit National Convention Center in Bangkok from 12 to 18 October, under the Government of Prime Minister Anutin Charnvirakul, Minister of Finance Ekniti Nitithanprapas, and Bank of Thailand Governor Vitai Ratanakorn.

Thailand will once again welcome financial leaders and representatives from around the world to Bangkok, continuing its long-standing engagement in global economic cooperation.