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Principles of International Economic Law, 2nd Edition by Herdegen, Matthias (22nd September 2016)

Part VI International Monetary Law and the International Financial Architecture, XXXVIII International Monetary Law and International Economic Relations

From: Principles of International Economic Law (2nd Edition)

Matthias Herdegen

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 22 October 2019

Subject(s):
International investment law — International monetary law — International trade

This chapter details the impact of international monetary law on international trade and business, as this constitutes a core sector of international economic law. International trade in goods and services and other international business transactions rest on cross-border payments and capital movements which, as a rule, affect two or more currency areas. The regulation of currency exchange thus vitally affects competitive conditions in international trade and business. The system established by the Conference of Bretton Woods (1944), with the Articles of Agreement of the International Monetary Fund (IMF Agreement), aims to create an international monetary order based on the free convertibility of currencies. It also aims to ensure free movement of payments and capital and payments in conformity with the requirements of internal trade.

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