The Role of the Bretton Woods Institutions in Forming and Spreading Education Policies

Abstract

It was shortly before the end of World War II (1944) that the decision was taken to establish the Bretton Woods institutions, namely the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD). A few years later (1948), the Universal Declaration of Human Rights was adopted by the UN, according to which education was at last offic ially established as a human right for the first time throughout human history.Upon the end of WW II, the creation of International Institutions aiming princ ipally at imp lementing polic ies towards economic development came to the fore. Given that collaboration is more effective if it takes place through multilateral institutions, the International Institutions gradually emerged as important regulators of the global scene, setting or influenc ing international developments at various levels.At the same time, the content of education, the structure of the educational system and the implemented education policies were regarded as key factors influencing economic growth. In this way, economy was directly related to education while education was in its turn d irectly linked to development programs.There are many international institutions intervening in education policy matters. The action taken by some of them is widely known while others’ action is not, since the fields they get invo lved in are prima facie not related to education issues. The less known institutions inc lude the IMF and, secondarily, the IBRD. The role of the IBRD is more active and vis ible while the invo lvement of the IMF is ind irect, through its involvement in the financing procedures of the WB.The present paper will attempt to examine the ro le p layed by the IBRD and the IMF in cultivating and diffus ing specific education policies and ideas as well as the value bases on which their education programs develop.The vast majority of the International Institutions dealing with education do not form a specific self-contained policy promoted by the member states themselves since they are not capable of enforcing specific measures.They usually define specific goals and create an attractive atmosphere around them. These goals are subsequently promoted through the mesh of relationships and partnerships they have been develop ing.The particularity of the Bretton Woods Institutions lies in their ability to impose specific measures on the states. While promoting their positions through financial programs, rendering their implementation an integral part of financ ing, they in fact enforce the implementation of specific education policies. This fact attaches great importance to the role they play with regard to education at a global level since they may be the only International Institutions possessing the ability to directly exert education policies.