Restrictions to Safeguard the Balance of Payments. 1. The Parties shall endeavour to avoid the imposition of restrictions to safeguard the balance of payments.
Restrictions to Safeguard the Balance of Payments. 1. In the event of serious balance of payments and external financial difficulties or threat thereof, a Party may adopt or maintain restrictions on payments or transfers related to investments. It is recognized that particular pressures on the balance of payments of a Party in the process of economic development may necessitate the use of restrictions to ensure, inter alia, the maintenance of a level of financial reserves adequate for the implementation of its programme of economic development.
Restrictions to Safeguard the Balance of Payments. Where a Party is in serious balance of payments and external financial difficulties or threat thereof, it may adopt or maintain restrictions on trade in services in accordance with Article XII of the GATS.
Restrictions to Safeguard the Balance of Payments. 1. In the event of serious balance-of-payments and external financial difficulties or threat thereof, a Member may adopt or maintain restrictions on trade in services on which it has undertaken specific commitments, including on payments or transfers for transactions related to such commitments. It is recognized that particular pressures on the balance of payments of a Member in the process of economic development or economic transition may necessitate the use of restrictions to ensure, inter alia, the maintenance of a level of financial reserves adequate for the implementation of its programme of economic development or economic transition.
Restrictions to Safeguard the Balance of Payments. 1. Nothing in this Section shall be construed to prevent a Signatory Party from taking any measure for balance-of-payments purposes. The Signatory Parties shall apply restrictions to safeguard the balance of payments in accordance with the provisions of Articles XII and XIV of GATT 1994 and the WTO Understanding on Balance-of-Payments Provisions of GATT 1994.
Restrictions to Safeguard the Balance of Payments. 1. Where a Party is in serious balance of payments and external financial difficulties or threat thereof, it may adopt or maintain restrictions on trade in services in accordance with Article XII of the GATS.
Restrictions to Safeguard the Balance of Payments. 1. In the event of serious balance of payments and external financial difficulties or threat thereof, a Party may adopt or maintain restrictions on trade in services in respect of which it has obligations under Articles 7.3 and 7.4 or has made Additional Commitments including on payments or transfers for transactions relating to such obligations. It is recognised that particular pressures on the balance of payments of a Party in the process of economic development may necessitate the use of restrictions to ensure, inter alia, the maintenance of a level of financial reserves adequate for the implementation of its programme of economic development.
Restrictions to Safeguard the Balance of Payments. 1. Notwithstanding the provisions of paragraph 1 of Article XI, any contracting party, in order to safeguard its external financial position and its balance of payments, may restrict the quantity or value of merchandise permitted to be imported, subject to the provisions of the following paragraphs of this Article.
Restrictions to Safeguard the Balance of Payments. Any restriction to safeguard the balance of payments adopted or maintained by a Party under and in conformity with Article XII of the GATS shall apply under this Chapter.
Restrictions to Safeguard the Balance of Payments. 1. In the event of serious balance-of-payments and externalfinancial difficulties or threat thereof, a Party may adopt ormaintain restrictions on trade in services on which it has undertaken specific commitments, including on payments ortransfers for transactions related to such commitments. It is recognized that particular pressure on the balance of paymentsof a Party in the process of economic development or economictransition may necessitate the use of restrictions to ensure,inter alia, the maintenance of a level of financial reservesadequate for the implementation of its program of economicdevelopment or economic transition. 2. The restrictions referred to in paragraph 1: (a) shall ensure that the other Party is treated asfavorably as any non-Party; (b) shall be consistent with the Articles of Agreement ofthe International Monetary Fund; (c) shall avoid unnecessary damage to the commercial,economic, and financial interests of the other Party;
