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Cover Policy Papers
2021 Comprehensive Surveillance Review— Background Paper on Main Findings from The Stakeholder Surveys
International Monetary Fund. Strategy, Policy, & Review Department
This note presents key results from the surveys of country authorities, IMF Executive Directors (EDs), and mission chiefs (MCs) to inform the Comprehensive Surveillance Review (CSR). Key takeaways and cross-cutting themes that emerge are Trends, Policy Challenges, Surveillance Priorities, Surveillance modalities and Traction.
Keywords:
Policy advice; address Policy trade-off; Policy challenge; survey update result; Policy combination; Income; Corporate social responsibility; Spillovers; COVID-19; Structural policies; Sub-Saharan Africa; Middle East; North Africa; Central Africa; East Africa
Cover Policy Papers
2021 Comprehensive Surveillance Review — Overview Paper
International Monetary Fund. Strategy, Policy, & Review Department
Fund surveillance needs to evolve to face the economic and financial challenges that will shape the global landscape for years to come. This paper first takes stock of the current economic and financial landscape. To better serve the membership in this context, Fund surveillance should be prioritized around four key priorities: (i) confronting risks and uncertainties: policymakers will need to actively manage the risks of a highly uncertain outlook; (ii) preempting and mitigating adverse spillovers: shifting patterns of global economic integration will bring about new channels for contagion and policy spillovers; (iii) fostering economic sustainability: a broader understanding of sustainability to better account for the impact of economic and non-economic developments on stability; and (iv) unified policy advice: better accounting for the trade-offs and synergies among different policy combinations in the face of limited policy space and overlapping priorities, tailored to country-specific circumstances. These priorities should further enhance the traction of Fund surveillance.
Keywords:
Fund surveillance; policy advice; IMF surveillance; Policy reaction; surveillance activity; Spillovers; Climate change; COVID-19; Income inequality; Financial sector risk; Global