About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

1 (May 7, 2007)

handle is hein.crs/crsmthabejf0001 and id is 1 raw text is: Order Code RS22658 May 7, 2007 CRS Report for Congress Currency Manipulation: The IMF and WTO Jonathan E. Sanford Specialist in International Political Economy Foreign Affairs, Defense, and Trade Division Summary The International Monetary Fund (IMF) and World Trade Organization (WTO) approach the issue of currency manipulation differently. The IMF Articles of Agreement prohibit countries from manipulating their currency for the purpose of gaining unfair trade advantage, but the IMF lacks effective means for enforcing that rule. The WTO has rules against export subsidies, but these are very narrow and specific and do not seem to encompass currency manipulation. Several options might be considered for addressing this matter in the future, if policymakers deem this a wise course of action. This report will be updated as conditions require. This report describes how the International Monetary Fund (IMF) and World Trade Organization (WTO) deal with the issue of currency manipulation. It identifies possible venues for the discussion of currency manipulation. It also discusses apparent discrepancies in their charters and ways those differences might be addressed. International Financial and Trade Organizations In the realm of international finance and trade, the IMF and WTO are the most prominent and most important multilateral institutions. They are charged with important tasks for keeping world trade and finance flowing freely. International Monetary Fund. The IMF is the leading organization in the area of international monetary policy. With the end of the cold war, its membership is now nearly universal. Only North Korea, the Vatican, and four other mini-countries in Europe none of which have their own currency are not members of the Fund. The IMF makes loans to countries undergoing financial or balance of payments crises, it provides technical assistance to governments on monetary, banking and exchange rate questions, it does research and analysis on international monetary and economic issues, and it provides a forum where countries can discuss international finance issues and seek common ground on which they can address common problems. Congressional Research Service The Library of Congress Prepared for Members and Committees of Congress

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most