This Day In History : December 27

1945 United States

World Bank Created with Signing of Agreement

On July 1, 1944, representatives from 44 nations met in Bretton Woods, New Hampshire, to establish the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development, which later became known as the World Bank. The formal agreement for the World Bank was signed on December 27, 1945, by 28 countries, marking its official creation. The World Bank aimed to provide financial and technical assistance to developing countries for reconstruction and development projects.

Also on This Day in History December 27

Discover what happened on December 27 with HISTORY's summaries of major events, anniversaries,
famous births and notable deaths.

Births on This Day, December 27
  • 1910 Ian Donald

    English physician who first successfully applied ultrasound reflection imaging for medical diagnosis.

  • 1822 Louis Pasteur

    French chemist who became a founder of microbiology. He began as a chemist working on the optical properties of tartaric acid and its stereochemistry (1849).

  • 1773 George Cayley

    (6th Baronet ) English aeronautical pioneer who built the first successful man-carrying glider (1853).

  • 1571 Johannes Kepler

    German astronomer who formulated three major laws of planetary motion which enabled Isaac Newton to devise the law of gravitation.

  • 1867 William Cecil Dampier

    British scientist, agriculturist, and science historian who developed a method of extracting lactose (milk sugar) from the surplus whey.

Deaths on This Day, December 27
  • 1923 Michael Joseph Owens

    Michael Joseph Owens was an American inventor and manufacturer who invented the automatic glass bottle making machine that revolutionized the industry.

  • 1771 Henri Pitot

    French hydraulic engineer who invented the Pitot tube (1732), an instrument to measure flow velocity either in liquids or gases.

  • 1900 William George Armstrong

    Baron of Cragside, William George Armstrong was an English inventor, engineer and industrialist in hydraulic engineering, shipbuilding and artillery.

  • 1914 Charles Martin Hall

    American chemist who invented the inexpensive electrolytic method of extracting aluminium from its ore, enabling the wide commercial use of this metal.

  • 1968 Victor Ernest Shelford

    Victor Ernest Shelford was an American zoologist and animal ecologist who helped to establish ecology as a distinct field of study.


Beagle voyage begins

In 1831, Charles Darwin set sail from Plymouth harbour on his voyage of scientific discovery aboard the HMS Beagle, a British Navy ship. 

Indonesian Independence Declared

On December 27, 1949, Indonesia officially gained its independence from the Netherlands. This followed a protracted struggle for sovereignty that included diplomatic negotiations and armed conflict, ultimately leading to the establishment of the Republic of Indonesia.

Ether Anesthetic Used for First Time in Childbirth

On December 27, 1845, Dr. Crawford W. Long used ether anesthetic during childbirth for the first time on his wife in Jefferson, Georgia. This pioneering medical procedure allowed her to successfully give birth to their second child, a baby girl named Fanny, revolutionizing pain management in obstetrics.

International Monetary Fund Formally Established

The International Monetary Fund (IMF) was formally established on December 27, 1945, by 29 member countries. Founded on the ideas of Harry Dexter White and John Maynard Keynes, it aimed to foster international monetary cooperation and stability. The IMF provides financial assistance to member countries facing economic challenges and promotes policies that support sustainable growth and poverty reduction globally.
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