Intro.V.01 The role of the State in the creation and regulation of a monetary system has been considered in various contexts. The chapters comprised within Part V are intended to explain the framework of international law within which the State may exercise its monetary powers. Intro.V.02 It has been noted on several occasions that a State enjoys sovereignty over its monetary affairs. Yet in the monetary field, as in any other, sovereignty is not unlimited. International law sets certain minimum requirements as to acceptable conduct in this sphere and these must...
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