45. Article rv' under which present. consultations and discussions r{ith the membersof the Fund take place, formarly limits surveilrance to exchange rate policies, rntbe different but related context of conditionalicy, the Fund,s attention is muchbroader, and as the report of the croup of Ten states, there ls a need to incrudein surveillance a sider range of issues, sucb as the mix of fiscal and monetarypolicy, structural problems and trade policies. 46- The Group of Ten agreed that surveillance had noE been sufficiently effect.ivein inducing policy changes in countries that had adeguate access to externalfinancing and did not require an lMF-supporCed adjustment programme. fhe Groupal'so agreed that multilateral surveillance should concentrate on countrl^es that hada large impace on the world economy. 4'?. The Working croup of the croup of ''wenty-four concurred. The question was,how couLd surveillance have greater impact? The committee of nrenty agreecl in itsreport of 1974 that a process of ',graduated pressure,t should be incorporated in theprocedures of the rMr in order to induce countries to make policy changes calle.tfor th the light of the lnternational economic situationt honever, there was noagreemenC on the forms. The Working croup of the croup of t\.renly_four revived thisidea. The Group of Ten, on the other hand, relied on peer_group pressure and thepossible lmpac! of publicity, lrhlch was discouraged in the croup of Tventy-four. 48' r! is gratifying to fi.nd agreement that countries .must be ready to recognizecbe international implications of thelr policies and to give them more rdeight inlheir decision-making process"' as expressed in lhe report of the croup of ren, andalso that the need for symmetry and even-handedness ls expressly stresled.A/40/'108 Enqlish Page 13 49. It is perhaps necessary to emphasize Ehat the objective of surveillance cannot be to i, mpose on Governments policies that are not in their oh'n long-run interest but rather to provide Governments with an international voice, warning them when domestic pressures for short-sighted attempts Eo benefit their own countries at Ehe expense of other countri.es threaten to jeoPardize orderly progress in the world
**Analysis**
The text appears to be discussing the concept of surveillance in the context of international economic policies and the impact of country policies on the global economy. The text mentions the International Monetary Fund (IMF), the Group of Ten, and the Group of Twenty-four, indicating that the topic is related to international economic governance and policy-making. The text also emphasizes the need for countries to recognize the international implications of their policies and to give consideration to the impact of their decisions on other countries.

**Category**
International trade