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

From: Principles of International Economic Law (1st Edition)

Matthias Herdegen

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From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 05 December 2020

Subject(s):
Exchange controls — International trade — International administrative unions — International organizations, practice and procedure
International monetary law 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. Only monetary unions like the Eurozone (European Monetary Union) allow transboundary transactions to be realized within a single currency area. The system established by the Conference of Bretton Woods (1944), with the Articles of Agreement of the International Monetary Fund (IMF), aims to...
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