Abstract
Abstract As between the 150 members or so of the International Monetary Fund (except Australia, Mexico and Sweden1) the law of exchange control differs from the general rules applicable to exchange control. In those member States the rule of positive law laid down in Art. VIII (2) (b) of the Articles of Agreement of the International Monetary Fund applies: This provision (which provides a defence the factual elements of which have to be proved) constitutes a new departure.
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