“As stated above, the language of the IMF Agreement imposes on courts and administrative authorities, as well as on international tribunals, not only a right but a duty to refuse enforcement of exchange contracts, including capital transfers, 4 falling under the provisions of Article VIII Section 2(b) of the Agreement. The effects of this provision would to a considerable extent be negated, if a court always were to place the burden of proof regarding the character of the transaction on parties not involved in the operation.

4 See F. A. Mann, The Legal Aspect of Money, Oxford 1982, p. 382.