## 2021 Comprehensive Surveillance Review— Modalities for Modernizing Surveillance

_Policy Papers, May 18, 2021_

## Source details

**Canonical URL:** [2021 Comprehensive Surveillance Review— Modalities for Modernizing Surveillance](https://www.imf.org/en/publications/policy-papers/issues/2021/05/18/2021-comprehensive-surveillance-review-modalities-for-modernizing-surveillance-460273)

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## Bibliographic details
- Published: May 18, 2021
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781513578477.007

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### Summary findings
- Modern Fund surveillance needs to be more targeted, topical and timely, better interconnected and better informed.
- Modernizing surveillance will likely require additional resources, although estimates are highly uncertain at this stage.
- The paper offers a tentative costing of new proposals with significant budgetary implications.
- Other proposals could rely on optimizing processes.
- Some proposals are underway and funded separately.
- The resource implications of yet other proposals are being picked up in the context of other workstreams.
- Estimates do not include short-term transition costs or pressures on support services and are subject to a significant degree of uncertainty.
- A flexible approach to implementing the new modalities, characterized by experimentation and learning-by-doing—a “sandbox” for new modalities—is proposed.

### Policy implications and modalities
- Tentative costing of new proposals indicates significant budgetary implications.
- A mix of approaches is envisaged:
  - Proposals requiring additional resources (estimates highly uncertain).
  - Proposals relying on optimizing processes (no additional funding implied).
  - Proposals already underway and funded separately.
  - Proposals whose resource implications are being captured by other workstreams.
- Implementation approach:
  - Flexible, experimental implementation.
  - Learning-by-doing through a “sandbox” for new modalities.
- Limitations of estimates:
  - Do not include short-term transition costs.
  - Do not include pressures on support services.
  - Subject to a significant degree of uncertainty.

### Subject areas and keywords
- Subjects: Climate change; Corporate social responsibility; Economic sectors; Environment; Financial Sector Assessment Program; Financial sector policy and analysis; Monetary policy; Political economy; Spillovers; Systemic risk assessment.
- Keywords: Climate change; contingent Policy advice; Corporate social responsibility; Financial Sector Assessment Program; fund mission; Fund surveillance; Global; IMF surveillance; IMF's transparency policy; policy advice; Spillovers; surveillance activity; Systemic risk assessment.

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## Content in this bundle

- **Policy Paper**
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_Source: https://www.imf.org/en/publications/policy-papers/issues/2021/05/18/2021-comprehensive-surveillance-review-modalities-for-modernizing-surveillance-460273_