XV |
Exchange arrangements |
|
1 |
Sees cooperation so that IMF handles exchange questions and
Contracting Parties handle trade measures. |
|
2 |
Commits Contracting Parties to accepting IMF findings with
respect to exchange matters covered in consultations. |
|
3 |
Commits Contracting Parties to "seek agreement with the
Fund regarding procedures for consultation." |
|
4 |
Prohibits Contracting Parties from undermining trade
agreements with exchange actions or vice versa. |
|
5 |
Commits Contracting Parties to report to the Fund exchange
actions inconsistent with this Agreement |
|
6 |
Commits Contracting Parties to become IMF members or to
"enter into a special exchange agreement" |
|
7(a) |
Special exchange agreements shall not undermine the
objectives of this Agreement |
|
7(b) |
Terms of special exchange agreements shall not be more
burdensome than IMF Agreements. |
|
8 |
Requires non-IMF members to provide information necessary to
set up a special exchange agreement |
|
9 |
"Nothing in this Agreement shall preclude:" |
|
9(a) |
"exchange controls or exchange restrictions"
allowed under the IMF or the CP's special exchange agreement. |
|
9(b) |
CP use of trade restrictions with effects permitted under
Articles XI, XII, XIII, and XIV and which
"make effective" the exchange controls or restrictions of 9(a). |