Bilateral Surveillance Guidance Note

Date: December 22, 2010
Electronic Access: Full Text

Summary:This note provides guidance to staff on the conduct of bilateral surveillance, a core activity of the Fund. Surveillance involves the continuous monitoring of members’ economic and financial policies, and regular Article IV consultations. During these consultations, staff holds pointed discussions with country authorities on the economic situation, the authorities’ policies, and desirable policy adjustments. These discussions are then reported to the Fund’s Executive Board for its consideration. The goal is, through thorough analysis, candid discussions, and a peer-review mechanism, to promote the domestic and external stability of members’ economies and thereby the stability of the international monetary system as a whole.

Series : Policy Paper
Subject(s): Exchange rate policy surveillance | Financial sector | Monetary policy | Exchange rates | Spillovers | Standards and codes | Monetary unions | Article IV consultations | Consultations with members