Currency Manipulations and International Trade Law: An Overview of the Existing IMF Legal Regime

Abstract

As per the principles of Law of Contract trade or business is a process of enrichment for the participants in the agreement. In order to ensure a flourishing economy it remains imperative to adopt a good economic Laws & policies for all the participants of the trade. A good economic policy, which includes a good currency culture, ensures not only prosperity within the economy but also ensures peace and stability in the world. It is not a surprise that the preamble part of the World Trade Organization stresses upon the trade and economic endeavors which infuses stability and sustainable development. The Preamble part of the WTO rules (i.e. Marrakesh Agreement Establishing the World Trade Organization) provides the following – Recognizing that their relations in the field of trade and economic endeavor should be conducted with a view to raising standards of living, ensuring full employment and a large and steadily growing volume of real income and effective demand, and expanding the production of and trade in goods and services, while allowing for the optimal use of the world’s resources in accordance with the objective of sustainable development, seeking both to protect and preserve the environment and to enhance the means for doing so in a manner consistent with their respective needs and concerns at different levels of economic development.