2021 Comprehensive Surveillance Review— Background Paper on The Surveillance Priority Ensuring Economic Sustainability

May 18, 2021

Preview Citation

Format: Chicago

2021 Comprehensive Surveillance Review— Background Paper on The Surveillance Priority Ensuring Economic Sustainability, (USA: International Monetary Fund, 2021) accessed October 6, 2024

Summary

Ensuring economic sustainability is key to achieving the IMF’s surveillance mandate of maintaining present and prospective balance of payments and domestic stability, assuring orderly exchange arrangements, and promoting a stable system of exchange rates. A good understanding of issues related to economic sustainability is thus essential for the IMF to provide effective surveillance and policy advice, while it requires a broad perspective and a long time horizon. With respect to the IMF’s surveillance mandate, the principle of macro-criticality, which guides the IMF’s engagement with its members, is sufficiently flexible and broad, allowing the IMF to cover issues related to economic sustainability. At the same time, given the wide range of issues that are related to economic sustainability, IMF surveillance needs to be selective and focused, with the choice of issues made on a case-by-case basis, considering country circumstances. It also needs to leverage the expertise of other institutions when necessary. The IMF and other institutions have advanced work to enhance analytical frameworks and indicators related to economic sustainability, and this should continue.

Subject: Climate change, Environment, Health, Income, Income inequality, Monetary policy, National accounts, Political economy, Population and demographics

Keywords: Climate change, Global, IMF surveillance, IMF's engagement, Income, Income inequality, Policy advice, Surveillance mandate, Transparency policy

Publication Details

Pages:

32
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2021/031
Stock No:

PPEA2021031
ISBN:

9781513578996
ISSN:

2663-3493

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