Article 70: Macro-Economic Policies

  1.         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.
  1.         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.
  1. 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.

  1.         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.