Currency Exchange Controls and Transfer Protections in BITs
Article from: TDM 2 (2016), in Latin America
The question of whether a currency control system may violate the free transfer provisions contained in investment treaties has not yet been fully explored by arbitral tribunals, mainly because currency control has traditionally been considered a quintessentially sovereign issue and, therefore, not one that could conceivably result in violation of an investment treaty. In Latin America, this question will become more relevant as different States-in particular, Venezuela and Argentina-implement foreign exchange regimes. This Article will focus on Venezuela's currency control regime. Since ...