The Economic and Development Review Committee (EDRC) is at the core of the OECD’s peer review mechanism. With representatives of all 37 OECD governments and the European Commission it examines structural economic trends and policies in member and partner countries. Each economy is reviewed about every two years, its performance assessed, and recommendations made.

The results are published as a country Economic Survey. The aim is to promote a better understanding of a country’s situation and challenges, and set out ways to improve policy. The Surveys are reports of the committee and are agreed by consensus adding weight to the conclusions.

The Economic Policy Committee (EPC) reviews and provides surveillance to spot both short- and longterm economic challenges. Made up of senior officials from member countries, the EPC relies on the work of three key working groups. The first (STEP) focuses on short-term economic prospects, the second (WP1) on medium-term economic trends. These perspectives help the EPC judge both immediate risks and important changes and pressures that may be on the horizon.

The third group (WP3) brings together the most senior officials from Finance Ministries and Central Banks from 10 of the OECD’s original members. Its focus is international stability and sustainability risks and the ways in which national decisions—in particular monetary and fiscal policies—interact and affect the system as a whole. The size of the group, meeting under Chatham House rules, ensures candour and genuine interaction.