43 transactions, except as provided under Article 14 of this Protocol, or at the request of the Fund. Article 14 Restrictions to Safeguard the Balance of Payments 1. In the event of serious balance of payments and external financial difficulties or threat thereof, a State Party may adopt or maintain restrictions on trade in services on which it has undertaken specific commitments, including on payments or transfers for transactions related to such commitments. It is recognised that particular pressures on the balance of payments of a State Party in the process of economic development or economic transition may necessitate the use of restrictions to ensure, inter alia, the maintenance of a level of financial reserves adequate for the implementation of its programme of economic development or economic transition. 2. The restrictions referred to in paragraph 1 of this Article shall: (a) not discriminate among State Parties; (b) be consistent with the Articles of Agreement of the International Monetary Fund; (c) avoid unnecessary damage to the commercial, economic and financial interests of any other State Party; (d) not exceed those necessary to deal with the circumstances described in paragraph 1 of this Article; and (e) be temporary and be phased out progressively as the situation specified in paragraph 1 of this Article improves. 3. In determining the incidence of such restrictions, State Parties may give priority to the supply of services which are more essential to their economic or development programmes. However, such restrictions shall not be adopted or maintained for the purpose of protecting a particular service sector. 4. Any restrictions adopted or maintained under paragraph 1 of this Article, or any changes therein, shall be promptly notified to the Secretariat. 5. State Parties applying the provisions of this Article shall consult promptly within the Committee on Trade in Services on restrictions adopted under this Article.