The Bretton Woods Conference established the IMF and World Bank to regulate international monetary and financial systems in the aftermath of WWII. Key figures like John Maynard Keynes and Milton Friedman disagreed on the appropriate role of governments in economic matters. The agreements aimed to establish a system of fixed exchange rates and free convertibility of currencies, but the goals of establishing an International Trade Organization and other proposals were not fully realized. The IMF and World Bank have since faced ongoing criticisms over their influence and policies.