## Supplement to the Guidance Note for Surveillance Under Article IV Consultations

_Policy Papers, February 8, 2021_

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**Canonical URL:** [Supplement to the Guidance Note for Surveillance Under Article IV Consultations](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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## Bibliographic details
- Published: February 8, 2021
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781513568676.007

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### Overview
- 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.

### Scope, duration, and relation to existing guidance
- 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.

### Implications for staff reports and country teams
- 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.

### Subjects and keywords
- Subject: Debt sustainability, Debt sustainability analysis, External debt, Financial Sector Assessment Program, Public debt
- Keywords: ESR country, ESR template, PP, sustainability assessment

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2021/02/08/supplement-to-the-guidance-note-for-surveillance-under-article-iv-consultations-50067_