ECONOMIC AND DEVELOPMENT REVIEW COMMITTEE

Chair:

Mr. Bill White

Vice-Chair:

Mr. Patrick O'Reilly (United States)

Mr. Michael Skaarup (Denmark)

Members:

Open to all Member countries

Regular Observer:

Russian Federation
(Country Reviews only)

Bank for International Settlements (BIS)

European Free Trade Association (EFTA)

International Monetary Fund (IMF)

World Bank

World Trade Organization (WTO)

Date of Creation:

30th September 1961

Duration:

31st December 2013

Mandate:

Council Decision regarding the Revision of the mandate of the Economic and Development Review Committee [C/M(2006)2, item 15] approved at its 1128th session held on 26 January 2006

Proposed Renewal of the Mandate of the Economic and Development Review Committee [C(2008)20] approved at the Council’s 1171st session held on 17th April 2008 [C/M(2008)7].

Extract of the Council Summary Record [C/M(2006)2]

“15.      PROPOSED REVISION OF THE MANDATE OF THE ECONOMIC AND DEVELOPMENT REVIEW COMMITTEE

THE COUNCIL

a)   noted document C(2006)5;

b)   decided, mindful of the vision of the founders of the Organisation as laid out in Article 1 of the Convention on the OECD, notably ‘to achieve the highest sustainable economic growth and employment and a rising standard of living in Member countries’ and ‘to contribute to sound economic expansion in Member as well as non-member countries’, that the Economic and Development Review Committee (EDRC) will examine on a regular basis and make comments and country-specific recommendations on the macroeconomic and structural policies of the Member countries and selected non-Member economies and on the interaction of these policies in raising economic performance;

c)   noted that the modus operandi of the EDRC is laid out in its Agreed Principles and Practices [Annex to C(2006)5], which will be updated by the Committee from time to time as appropriate;

d)   agreed that the mandate to the EDRC set out in sub-paragraph b) above shall expire on 31 December 2008, unless Council decides otherwise.”

Extract of Council Summary Record [C/M(2008)7]

“89.   …

THE COUNCIL

… 

b)   agreed to renew the Mandate of the Economic and Development Review Committee as set out in the Annex to document C(2008)20 until 31 December 2013.”