ARTICLE 83 Monetary and Fiscal Policy Harmonisation 1. The Partner States undertake to adopt policy measures in accordance with an agreed macro-economic policy framework. 2. For the purposes of paragraph 1 of this Article, the Partner States undertake to: (a) remove all exchange restrictions on imports and exports within the Community; (b) maintain free market determined exchange rates and enhance the levels of their international reserves; (c) adjust their fiscal policies and net domestic credit to the government to ensure monetary stability and the achievement of sustained economic growth; (d) liberalise their financial sectors by freeing and deregulating interest rates with a view to achieving positive real interest rates in order to promote savings for investment within the Community and to enhance competition and efficiency in their financial systems; and (e) harmonise their tax policies with a view to removing tax distortions in order to bring about a more efficient allocation of resources within the Community. ARTICLE 84 Macro-economic Co-ordination Within the Community 1. The Partner States shall co-ordinate through the Council their macroeconomic policies and economic reform programmes with a view to promoting the socio-economic development of the Community. 2. In order to achieve balanced development within the Community, the Partner States undertake to evolve policies designed to improve their resource and production base. 59

Select target paragraph3