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  • 10 - IMF Surveillance as a Non-Compliance Mechanism

  • from Part III - Trade, Finance and Investment
  • Edited by Christina Voigt, Universitetet i Oslo, Caroline Foster, University of Auckland
  • Book:
    International Courts versus Non-Compliance Mechanisms
    Published online:
    15 February 2024
    Print publication:
    22 February 2024, pp 217-236
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  • Summary

    This chapter evaluates the emergence and development of “surveillance” as the preferred non-compliance mechanism within the IMF architecture. This is thanks to its broad flexibility and original mechanism. The nature and scope of surveillance, as well as the factors explaining its success, will be assessed. In contrast, alternative dispute settlement mechanisms, such as international courts, have been resorted to in a limited way. This chapter will therefore highlight the specific role of international law within the field of international monetary relations, as well as illustrating how international monetary relations provide international law with original new tools and concepts.