{
  "title": "Supplement to the Guidance Note for Surveillance Under Article IV Consultations",
  "publication": "Policy Papers, February 8, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2021/02/08/supplement-to-the-guidance-note-for-surveillance-under-article-iv-consultations-50067",
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  "summary": "This note provides updated guidance to country teams on bilateral surveillance in the context of Article IV consultations in light of the COVID crisis.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- This note provides updated guidance to country teams on bilateral surveillance in the context of Article IV consultations in light of the COVID crisis.\n- The guidance impacts the focus, format and presentation of staff reports while keeping intact the substance of all existing Board-endorsed requirements.\n- The supplement aims to strengthen the focus of Fund surveillance on the fallout from the crisis and related challenges and to adapt flexibly to a rapidly evolving context."
    },
    {
      "heading": "Scope, duration, and relation to existing guidance",
      "content": "- All aspects of the comprehensive 2015 Guidance Note for Surveillance Under Article IV Consultations remain in effect, except as modified by this supplement.\n- The supplement will remain in effect, in the absence of further communication, until comprehensive new guidance is issued following the completion of the upcoming Comprehensive Surveillance Review."
    },
    {
      "heading": "Implications for staff reports and country teams",
      "content": "- Focus: Increased emphasis on the fallout from the COVID crisis and related challenges in bilateral surveillance.\n- Format and presentation: Changes to the format and presentation of staff reports to reflect the crisis-focused emphasis while preserving Board-endorsed substance."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Debt sustainability, Debt sustainability analysis, External debt, Financial Sector Assessment Program, Public debt\n- Keywords: ESR country, ESR template, PP, sustainability assessment\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2021/02/08/supplement-to-the-guidance-note-for-surveillance-under-article-iv-consultations-50067"
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    "Published: February 8, 2021",
    "Series: Policy Papers",
    "DOI: https://doi.org/10.5089/9781513568676.007",
    "This note provides updated guidance to country teams on bilateral surveillance in the context of Article IV consultations in light of the COVID crisis.",
    "The guidance impacts the focus, format and presentation of staff reports while keeping intact the substance of all existing Board-endorsed requirements.",
    "The supplement aims to strengthen the focus of Fund surveillance on the fallout from the crisis and related challenges and to adapt flexibly to a rapidly evolving context.",
    "All aspects of the comprehensive 2015 Guidance Note for Surveillance Under Article IV Consultations remain in effect, except as modified by this supplement.",
    "The supplement will remain in effect, in the absence of further communication, until comprehensive new guidance is issued following the completion of the upcoming Comprehensive Surveillance Review.",
    "Focus: Increased emphasis on the fallout from the COVID crisis and related challenges in bilateral surveillance.",
    "Format and presentation: Changes to the format and presentation of staff reports to reflect the crisis-focused emphasis while preserving Board-endorsed substance.",
    "Subject: Debt sustainability, Debt sustainability analysis, External debt, Financial Sector Assessment Program, Public debt",
    "Keywords: ESR country, ESR template, PP, sustainability assessment",
    "**Policy Paper**"
  ],
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