The document discusses the history and evolution of international economic institutions. It describes how the Bretton Woods institutions (IMF, World Bank) were established in 1945 to rebuild the global economy and prevent crises like the Great Depression. These institutions promoted policies like fixed exchange rates and free trade. However, they also faced controversies over their promotion of Washington Consensus reforms. The international economic order has continued transforming with the rise of globalization and new forums like the G20.