How is surveillance conducted?

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To conduct country surveillance in accordance with Article IV, an IMF staff team visits a member country, normally once a year, to meet government and central bank officials and collect and analyze economic and financial information. The analysis covers recent economic developments, as well as the exchange rate, monetary, fiscal, and relevant structural policies the country is pursuing. The Executive Director for the country usually participates in the mission's high-level meetings as an observer. The team also generally meets with other groups-such as trade unions, business associations, academics, financial market participants, and sometimes members of legislative bodies. The IMF staff team normally prepares a concluding statement, or memorandum, summarizing its findings and policy advice. The national authorities have the option of publishing the statement.

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