The need to strengthen countries’ financial systems has been a major focus of the IMF’s work in recent years. This paper focuses on the Financial Sector Assessment Program—or FSAP—which is the key initiative of the IMF in this area. The FSAP, which is being undertaken in conjunction with the World Bank, is aimed at bringing together and building on the issues that are being addressed in this seminar and complementing the efforts of others in the area of improving financial system soundness. On the basis of the work under the FSAP, the IMF staff prepares Financial System Stability Assessment (FSSA) reports, which feed into the IMF’s surveillance of member countries’ economies.