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Author: International Monetary Fund. Statistics Dept.
Publisher: International Monetary Fund
ISBN: 1498339956
Category : Business & Economics
Languages : en
Pages : 47
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Book Description
The IMF keeps data provision by members under periodic review since timely, accurate, and comprehensive data are essential for fulfilling its surveillance mandate. The previous Review of Data Provision to the Fund for Surveillance Purposes was discussed by the Executive Board in March 2008 (the 2008 Review). The 2008 Review introduced a new classification system for rating the adequacy of data provision by a member to help with this assessment. The present review was expected to be conducted in 2013, but was brought forward to 2012 in the context of the ongoing global crisis. In particular, the Managing Director’s (MD) statement on the 2011 Triennial Surveillance Review (TSR) announced that the Review of Data Provision to the Fund for Surveillance Purposes would be brought forward to 2012 to allow the Board to consider where more and better data could be leveraged to enhance surveillance.
Author: International Monetary Fund. Statistics Dept.
Publisher: International Monetary Fund
ISBN: 1498339956
Category : Business & Economics
Languages : en
Pages : 47
Get Book
Book Description
The IMF keeps data provision by members under periodic review since timely, accurate, and comprehensive data are essential for fulfilling its surveillance mandate. The previous Review of Data Provision to the Fund for Surveillance Purposes was discussed by the Executive Board in March 2008 (the 2008 Review). The 2008 Review introduced a new classification system for rating the adequacy of data provision by a member to help with this assessment. The present review was expected to be conducted in 2013, but was brought forward to 2012 in the context of the ongoing global crisis. In particular, the Managing Director’s (MD) statement on the 2011 Triennial Surveillance Review (TSR) announced that the Review of Data Provision to the Fund for Surveillance Purposes would be brought forward to 2012 to allow the Board to consider where more and better data could be leveraged to enhance surveillance.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 129
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Book Description
Data provision by member countries is a key input into the IMF’s surveillance activities. The 2024 Review of Data Provision to the Fund for Surveillance Purposes took place against the backdrop of profound shifts in the global economy, highlighting the important need for adequate macroeconomic and financial data to inform analysis and policymaking. This Review achieved a substantial, but manageable, update to the overall envelope of data that members are required to provide to the Fund in the areas of public sector, foreign exchange intervention, and macrofinancial indicators. Addressing these data gaps will reduce blind spots and support even-handedness in Fund surveillance. The Review also introduced a more structured and transparent assessment of data adequacy for surveillance. This strengthened framework will facilitate policy dialogue with the authorities on data issues and improve prioritization of capacity development efforts. Finally, the Review confirmed the long-standing practice of not applying the remedial framework when members do not provide certain data categories that the Fund considers outdated.
Author: International Monetary Fund. Statistics Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 21
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Book Description
This paper reviews the framework for Data Adequacy Assessment for Surveillance, which is a key element of the policies that govern the requirements for Data Provision to the Fund for Surveillance Purposes, aimed at ensuring high-quality data for economic analysis and policy advice. The Data Adequacy Assessment requires staff to assess, in the context of Article IV consultations, the adequacy of data provided to the Fund for surveillance purposes, the implications of data inadequacies for surveillance, and the need for corrective measures. In line with the recommendation of the Independent Evaluation Office’s report “Behind the Scenes with Data at the IMF: An IEO Evaluation” and previous guidance provided by the IMF Executive Board, this paper introduces a new framework to prepare the Data Adequacy Assessment, ensuring greater objectivity and granularity in the assessment. Data adequacy will become more prominent in the surveillance discussions by including a new Data Issues Annex in the staff report, which will replace the current Statistical Issues Appendix in the Informational Annex. The new framework will facilitate the policy dialogue with country authorities on macro-critical data issues and enhance the integration of surveillance and capacity development.
Author: Louellen Stedman
Publisher: International Monetary Fund
ISBN: 1484352459
Category : Business & Economics
Languages : en
Pages : 57
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Book Description
This report is the seventh in a series of evaluation updates by the Independent Evaluation Office of the IMF (IEO) that return to past IEO evaluations and assess the continuing relevance of their main conclusions. The report revisits the 2007 evaluation of IMF Exchange Rate Policy Advice, which found that the IMF was “not as effective as it needed to be” in fulfilling its responsibilities for exchange rate surveillance in the period 1999–2005. While acknowledging the inherent complexity of providing exchange rate policy advice, including the lack of professional consensus on many of the key issues, the evaluation observed serious weaknesses in the IMF’s work on key analytical issues and in its engagement with members. The update finds that the IMF has substantially overhauled its approach to exchange rate policy advice since 2007. Key steps taken include: adoption of a more comprehensive approach to exchange rate surveillance under the 2012 Integrated Surveillance Decision; development of enhanced analytical tools; a new institutional view on capital flows; and introduction of the annual External Sector Report that provides an integrated picture of the external balances of major economies. The IMF continues to work on further enhancements of its approach. Nonetheless, the update concludes that challenges remain that impact the effectiveness of the IMF’s work in an area central to its mandate. The approach for assessing external balances and exchange rates continues to be contentious, in part reflecting differing views across the membership about the process of external adjustment. There are also ongoing questions in other areas, including considerations for exchange rate regime choice, attention to policy spillovers, the institutional view on capital flows, and data availability. The update suggests that the persistence of key issues identified in 2007 merits a full evaluation by the IEO.
Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 1064
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Book Description
This volume is the Forty-Third Issue of Selected Decisions and Selected Documents of the International Monetary Fund. It includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents, to which frequent reference is made in the current activities of the Fund. In addition, it includes certain documents relating to the Fund, the United Nations, and other international organizations.
Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
ISBN: 1513515217
Category : Business & Economics
Languages : en
Pages : 854
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Book Description
This volume is the Fortieth Issue of Selected Decisions and Selected Documents of the IMF. It includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the IMF, as well as selected documents, to which frequent reference is made in the current activities of the IMF. In addition, it includes certain documents relating to the IMF, the United Nations, and other international organizations. As with other recent issues, the number of decisions in force continues to increase, with the decision format tending to be longer given the use of summings up in lieu of formal decisions. Accordingly, it has become necessary to delete certain decisions that were included in earlier issues, that is, those that only completed or called for reviews of decisions, those that lapsed, and those that were superseded by more recent decisions. Wherever reference is made in these decisions and documents to a provision of the IMF’s Articles of Agreement or Rules and Regulations that has subsequently been renumbered by, or because of, the Second Amendment of the Fund’s Articles of Agreement (effective April 1, 1978), the corresponding provision currently in effect is cited in a footnote.
Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
ISBN: 1513581872
Category : Business & Economics
Languages : en
Pages : 1026
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Book Description
This volume documents decisions, interpretations, and resolutions of the Executive Board and Board of Governors of the International Monetary Fund, as well as documents relating to the United Nations and other international organizations.
Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
ISBN: 1475548656
Category : Business & Economics
Languages : en
Pages : 1088
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Book Description
The Thirty-Seventh Issue of Selected Decisions and Selected Documents of the International Monetary Fund includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents to which frequent reference is made in the current activities of the Fund. In addition, it includes documents relating to the IMF, the United Nations, and other international organizations.
Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
ISBN: 1475595999
Category : Business & Economics
Languages : en
Pages : 1048
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Book Description
This volume documents decisions, interpretations, and resolutions of the Executive Board and Board of Governors of the International Monetary Fund, as well as documents relating to the United Nations and other international organizations.
Author: International Monetary Fund. Secretary's Department
Publisher: International Monetary Fund
ISBN: 149834173X
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
The objective of the paper is to inform Executive Directors of recent work undertaken by the Statistics Department (STA) to further enhance data consistency. STA works to promote high quality statistics as essential pre-requisites for the formulation of appropriate macroeconomic and financial policies. Such work supports IMF surveillance and goals that are articulated in Board papers pertaining to Data Provision to the Fund for Surveillance Purposes; the G-20/IMFC Data Gaps Initiative; and the Fund’s Data Standards Initiatives. All these initiatives are motivated by the Executive Directors’ interest in better and more consistent data. An important element of STA’s work program is the project to improve crosssector data consistency. This project has focused on an initial set of countries that reflect the diverse nature of the IMF’s membership, and on selected data series. Data inconsistencies across macroeconomic datasets (financial, government, external, and national accounts statistics) have been found to exist for most countries, regardless of their size and level of development. Such inconsistencies may arise from a variety of reasons, including methodological differences and different data vintages. The project has been favorably received by member countries and has enhanced cooperation at both the international and national levels. Indeed, because a number of agencies within a country may be involved in compiling macroeconomic statistics, the project has encouraged strengthened national inter-agency cooperation to resolve inconsistencies. In spite of ongoing efforts, many inconsistencies persist, and new inconsistencies may sometimes arise. A significant initial finding is that countries may face challenges in improving cross-sector data consistency. In particular, member country resource constraints often limit the scope of their work in the short– and medium–term. Next steps. The recent work undertaken by STA has yielded significant positive results in a relatively brief period of time. Therefore, next steps involve expanding this work to eventually cover all countries, and monitoring inconsistencies on an ongoing basis so that they are not allowed to persist without follow-up with countries.
