The second important change since the Asian crisis concerns the focus of the international community on financial issues, as it was felt that not enough attention was given to financial sector surveillance. In the meantime, the IMF has brought financial sector issues to the forefront of its work, and they are now regularly included in consultations.
Global market surveillance has been established, and analytical tools for the understanding of crisis detection have been strengthened. The IMF has also established the so-called Financial Sector Assessment Program, which aims to promote the soundness of financial systems in the IMF’s member countries.