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Article 15.7
Restrictions to Safeguard the Balance-of-Payments
1. Where a Party is in serious balance-of-payments and external financial difficulties, or under threat thereof, it may, in accordance with Article XII of the GATT 1994 and the Understanding on the Balance-of-Payments Provisions of the GATT 1994, adopt restrictive import measures. Such restrictive measures shall be consistent with the Articles of Agreement of the International Monetary Fund (hereinafter referred to "IMF").
2. Any Party maintaining or having adopted restrictive measures, or any changes thereto, shall promptly notify the other Party of them.
3. Where the restrictive measures referred to in paragraphs 1 and 2 are adopted or maintained, consultations shall be held promptly by the Joint Committee. Such consultations shall assess the balance-of-payments situation of the Party concerned and the restrictive measures adopted or maintained under this Article, taking into account, inter alia, factors such as:
(a) the nature and extent of the balance-of-payments and
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