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2. In all cases in which the CONTRACTING PARTIES are-called upon t» consider or deal with problems concerning monetary reserves, balances of payments or foreign exchange arrangements, they shall consult fully with the Internationa Monetary Fund. In such consultation, the CONTRACTING PARTIES shal accept all findings of statistical and other facts presented by the Fund relating t< foreign exchange, monetary reserves, and balances of payments,. and shall accep the determination of the Fund as to-whether action by a contracting party ii exchange matters is in accordance with the Articles of Agreement of the Inter national Monetary Fund, or with the terms of a special exchange agreement betweei that contracting party and the CONTRACTING PARTIES. The CONTRACTIN( PARTIES, in reaching their final decision, in.cases involving the criteria set forth h paragraph 2 (a) of Article XII, shall accept the determination of the Fund as t what constitutes a serious decline in the contracting party's monetary reserves, ; very low level of its monetary • reserves or a reasonable rate of increase in it monetary reserves, and as to the financial aspects of other matters covered i: consultation in such cases. - 3. The CONTRACTING PARTIES shall seek agreement with the Fun regarding procedures for consultation under paragraph 2 of this Article. 4. Contracting parties shall not, by exchange action, frustrate the intent of th provisions of this Agreement, nor, by trade action, the intent of the provisions c the Articles of Agreement .of the International Monetary. Fund, 5. If the "CONTRACTING PARTIES consider, at any time, that exchang restrictions on payments and transfers in connection with imports are being applie by a Contracting party in a manner inconsistent with the exceptions provided fc in this Agreement for quantitative restrictions, they shall report thereon to the Func 6. , Any contracting party which is not a member, of the .Fund shall, within time to be determined by the (CONTRACTING PARTIES after consultation wit Fund, become a member of the Fund, or, failing that, enter into a specie exchange agreement with the CONTRACTING PARTIES. A contracting part which ceases to be a member of the Fund shall forthwith enter into a speci; exchange agreement with the CONTRACTING PARTIES. Any special exchang agreement entered into by a contracting party under this paragraph shall thereupo become part of its obligations under this Agreement. ,7. (a) A special exchange agreement between a contracting party and. th CONTRACTING PARTIES under paragraph 6 of this Article shall provide to th satisfaction of the CONTRACTING PARTIES that the objectives of this Agre< ment will not be frustrated as a result of action in exchange matters, by th contracting party in question. {b). The terms of any such agreement shall not impose obligations on th contracting party in exchange matters generally more restrictive than t-hos imposed by the Articles of Agreement of the International Monetary Fund o members of the Fund. .