Article 70: Macro-Economic Policies
- COFAP shall formulate proposals and adopt appropriate measures to promote a sound macro-economic environment in the Member States, consistent with their obligations under this Treaty and applicable international agreements.
- COFAP shall, in collaboration with other competent Organs, promote economic development in the Member States through the development and application of convergent macro- economic policies to ensure fiscal discipline, favourable balance-of-payments, stable currencies and moderate prices without prejudice to securing high levels of employment.
- COFAP shall collaborate with COFCOR and COTED in co-ordinating: (a) the economic policies of the Member States; and
(b) the positions and presentations of the Member States in all international economic, financial and trade meetings at which they are represented.
- In support of the development of macro-economic policies, the Community shall provide for harmonisation of the output of the statistical services of the Member States.