The International Monetary Fund and it's role in the formation of the international monetary law

iiiABSTRACTTHE INTERNATIONAL MONETARY FUNDAND IT?S ROLE IN THE FORMATION OFTHE INTERNATIONAL MONETARY LAWMukaddes KORKMAZ SÜRERDepartment of Public LawAnadolu University Social Sciences Institute, September 2006Advisor: Assc. Prof. Ayşe Nur TÜTÜNCÜOur study is about the International Monetary Fund?s contribution to theformation of International monetary law. To understand the international monetary law,which has emerged after the Second World War, the concept of money and formation ofthe international monetary system should be examined. International monetary system isthe sum of rules, transactions, practices and institutions, which enables internationalpayments to be done by converting national currencies. International monetary lawrefers to those rules of international law that govern international monetary relations. Itis a generally accepted principle that a state is entitled to regulate its own currency. Theexception of this principle is the restrictions by which a state bound itself viainternational treaties. Today?s international monetary law is regulated under theframework of the International Monetary Fund. The IMF is an internationalorganization aiming to ensure the stability in the international monetary system.