Surveillance Core to the very existence of the IMF is its surveillance role – monitoring global, regional and national economies to assess whether countries' policies are consistent not only with their own interest but also with the interest of the international community. The on-going crisis has highlighted the relevance and importance of strengthening and appropriately focusing Fund’s surveillance.
It has established itself as a field of research of its own right since the mid-1990s, when financial stability issues were boosted by  2  BIS Review 82/2008  financial globalisation and an acceleration in financial innovation. This is reflected in the wide dissemination of financial stability reports, which central banks now produce in more than 50 countries worldwide.