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Economic Policy Committee
Chair:   
Mr. Kevin Hassett   
(United States)
Vice-Chairs:   
Mr. Nobuo KAGOMIYA   
(Japan)
Dr. Philipp STEINBERG   
(Germany)
Bureau Members:   
Dr. Riccardo BARBIERI HERMITTE   
(Italy)
Mr. Michel HOUDEBINE   
(France)
Ms. Clare LOMBARDELLI   
(United Kingdom)
Mr. Lars Haagen PEDERSEN   
(Denmark)
Dr. Stefan PROFIT   
(Germany)
Mr. Arent Skjæveland   
(Norway)
Members:   
Open to all Member countries 
Invitees:   
Colombia   
Indonesia   
Costa Rica   
People’s Republic of China   
Russian Federation   
South Africa   
Brazil   
Argentina   
India   
Saudi Arabia   
Observers (International Organisations):   
Bank for International Settlements (BIS)   
European Free Trade Association (EFTA)   
International Monetary Fund (IMF)   
World Bank   
Date of creation:
30th September 1961
Duration:
31st December 2019

Mandate:   -   Paragraph 12 of the report by the Preparatory Committee

   -   Council Decision regarding a Sunset Clause for all Committees [C/M(2004)5, item 75] entered into force on 22 April 2004 [C/M(2004)10, item 143, IV, c)]

   -   Resolution of the Council concerning the Renewal of the Mandate of the Economic Policy Committee [C(2008)21] approved at its 1171st session held on 17th April 2008 [C/M(2008)7]

   -   Resolution of the Council concerning the Renewal of the Mandate of the Economic Policy Committee [C(2013)80] approved at its 1284th session held on 11th July 2013 [C/M(2013)15, item 127]

      Resolution of the Council concerning the Renewal of the Mandate of the Economic Policy Committee [C(2018)72] approved at its 1374th session held on 3 May 2018 [C/M(2018)11]

 

 

 

Resolution of the Council [C(2018)72, and C/M(2018)11, item 96]

DRAFT RESOLUTION OF THE COUNCIL EXTENDING

THE MANDATE OF THE ECONOMIC POLICY COMMITTEE

“THE COUNCIL,

   Having regard to the Convention on the Organisation for Economic Co-operation and Development of 14 December 1960;

   Having regard to the Rules of Procedure of the Organisation;

   Having regard to the Resolution of the Council on Partnerships in OECD Bodies [C(2012)100/FINAL];

   Having regard to paragraph 12 of the Report of the Preparatory Committee concerning the mandate of the Economic Policy Committee, last renewed in 2008 [C(2008)21];

   Having regard to the recommendations of the In-depth Evaluation of the Economic Policy Committee [C(2012)30 & C/M(2012)4];

   Having regard to the proposed revision of the mandate of the Economic Policy Committee C(2018)72];

DECIDES:

A.   The Economic Policy Committee is renewed with the following revised mandate:

I.   Objectives

1.    The overarching aim of the Economic Policy Committee is to contribute to balanced and sustainable economic growth with due attention to social and environmental consequences.

2.    The mid-level objectives of the Committee are notably to promote responsible structural, fiscal and monetary policies and financial stability.

3.    The Committee will undertake economic surveillance of the economic and financial situation and policies of the Members, accession countries and Key Partners in attaining these objectives and undertake cross-country policy analysis in support of better policy setting.

4.    In reviewing economic policy, the Committee will:

   a) assess the use of fiscal, monetary, financial and structural policies to achieve these goals, and linkages between them, paying particular attention to the role of structural policies;

   b) pay special attention to risks to the outlook, global spill-over effects and establishing a climate of mutual understanding conducive to the harmonious adjustment of policies.

B.   The mandate of the Economic Policy Committee shall remain in force until 31 December 2019.

Last published on: 13th November 2018  
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