In a paper summing up the role played by law in the affairs of the International Monetary Fund, its former General Counsel, Sir Joseph Gold, wrote that the IMF is “an economic organization, but one in which great weight is attached to the law of the institution. . . .”1 The task of IMF lawyers, he noted, “has been to find within the law solutions for the many problems that arise” in the institution’s life. In doing so, they have developed a “discrete branch of public international law” that might be called “international monetary law.”2