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The Fund and Non-Member States Some Legal Effects

The Fund and Non-Member States Some Legal Effects »

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 January 1966

DOI: http://dx.doi.org/10.5089/9781451969696.054

ISBN: 9781451969696

Keywords: exchange transactions, monetary fund, exchange agreements, exchange arrangements, exchange control

This paper examines legal provisions and practices of the IMF that involve nonmember states. It considers certain preliminary topics including: categories of nonmembers, subordinate territories for which members ar...

3. General Undertakings of Members Regarding Relations with Non-Members

3. General Undertakings of Members Regarding Relations with Non-Members »

Source: The Fund and Non-Member States Some Legal Effects

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 January 1966

ISBN: 9781451969696

Keywords: exchange transactions, monetary fund, exchange agreements, exchange arrangements, exchange control

One of the most striking efforts in the Articles to affect non-members is Article XI. This provision does not attempt to impose obligations on non-members, but its purpose is to impose obligations on members...

4. Premium Gold Transactions Involving Non-Members

4. Premium Gold Transactions Involving Non-Members »

Source: The Fund and Non-Member States Some Legal Effects

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 January 1966

ISBN: 9781451969696

Keywords: exchange transactions, monetary fund, exchange agreements, exchange arrangements, exchange control

At a time when the growth in premium gold transactions engaged the close attention of the Fund, an effort was made to affect the actions of non-members in connection with these transactions. Under Article IV...

5. Special Exchange Agreements

5. Special Exchange Agreements »

Source: The Fund and Non-Member States Some Legal Effects

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 January 1966

ISBN: 9781451969696

Keywords: exchange transactions, monetary fund, exchange agreements, exchange arrangements, exchange control

Obligations Under Special Exchange Agreements The discussion of Article XI, Section 1, and of premium gold transactions has dealt with two examples of the technique of acting through...

6. Article XI, Section 2: Restrictions Against Non-Members

6. Article XI, Section 2: Restrictions Against Non-Members »

Source: The Fund and Non-Member States Some Legal Effects

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 January 1966

ISBN: 9781451969696

Keywords: exchange transactions, monetary fund, exchange agreements, exchange arrangements, exchange control

The discussion so far has dealt with the obligations of the Articles and the extent to which they have been brought to bear on non-members. In this and some of the succeeding sections of this paper the subje...

7. Restrictions Against Signatories of Special Exchange Agreements

7. Restrictions Against Signatories of Special Exchange Agreements »

Source: The Fund and Non-Member States Some Legal Effects

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 January 1966

ISBN: 9781451969696

Keywords: exchange transactions, monetary fund, exchange agreements, exchange arrangements, exchange control

The Fund has taken cognizance of the fact that the signatory of a special exchange agreement would not be free to impose discriminatory exchange restrictions against other contracting parties, without having...

8. Recognition of Exchange Controls of Non-Members

8. Recognition of Exchange Controls of Non-Members »

Source: The Fund and Non-Member States Some Legal Effects

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 January 1966

ISBN: 9781451969696

Keywords: exchange transactions, monetary fund, exchange agreements, exchange arrangements, exchange control

The question whether non-members can derive a benefit from the Articles has arisen in the courts in connection with Article VIII, Section 2(b). According to that provision:...

9. Agreement Between Fund and Switzerland—Stipulation Pour Autrui

9. Agreement Between Fund and Switzerland—Stipulation Pour Autrui »

Source: The Fund and Non-Member States Some Legal Effects

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 January 1966

ISBN: 9781451969696

Keywords: exchange transactions, monetary fund, exchange agreements, exchange arrangements, exchange control

One effect of the Articles on non-members results from the exercise of the Fund’s authority to enter into agreements with them. The major example of an international agreement of this kind is the agreement o...

10. Objective International Personality and Non-Members

10. Objective International Personality and Non-Members »

Source: The Fund and Non-Member States Some Legal Effects

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 January 1966

ISBN: 9781451969696

Keywords: exchange transactions, monetary fund, exchange agreements, exchange arrangements, exchange control

Article IX, Section 1, provides that to enable the Fund to fulfill its functions the status, privileges and immunities set forth in Article IX “shall be accorded to the Fund in the territories of each member...

Summary

Summary »

Source: The Fund and Non-Member States Some Legal Effects

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 January 1966

ISBN: 9781451969696

Keywords: exchange transactions, monetary fund, exchange agreements, exchange arrangements, exchange control

The experience of the International Monetary Fund in relation to non-member states illustrates the misleading character of any principle, however formulated, which suggests that states cannot be affected, to...