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Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
ISBN: 1498307310
Category : Business & Economics
Languages : en
Pages : 31
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Book Description
"The first data and statistics strategy for the Fund comes at a critical time. A fast-changing data landscape, new data needs for evolving surveillance priorities, and persisting data weaknesses across the membership pose challenges and opportunities for the Fund and its members. The challenges emerging from the digital revolution include an unprecedented amount of new data and measurement questions on growth, productivity, inflation, and welfare. Newly available granular and high-frequency (big) data offer the potential for more timely detection of vulnerabilities. In the wake of the crisis, Fund surveillance requires greater cross-country data comparability; staff and authorities face the complexity of integrating new data sources and closing data gaps, while working to address the weaknesses noted by the IEO Report (Behind the Scenes with Data at the IMF) in 2016. The overarching strategy is to move toward an ecosystem of data and statistics that enables the Fund and its members to better meet the evolving data needs in a digital world. It integrates Fund-wide work streams on data provision to the Fund for surveillance purposes, international statistical standards, capacity development, and data management under a common institutional objective. It seeks seamless access and sharing of data within the Fund, enabling cloud-based data dissemination to support data provision by member countries (e.g., the “global data commons”), closing data gaps with new sources including Big Data, and improving assessments of data adequacy for surveillance to help better prioritize capacity development. The Fund also will work with policymakers to understand the implications of the digital economy and digital data for the macroeconomic statistics, including new measures of welfare beyond GDP."
Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
ISBN: 1498307310
Category : Business & Economics
Languages : en
Pages : 31
Get Book
Book Description
"The first data and statistics strategy for the Fund comes at a critical time. A fast-changing data landscape, new data needs for evolving surveillance priorities, and persisting data weaknesses across the membership pose challenges and opportunities for the Fund and its members. The challenges emerging from the digital revolution include an unprecedented amount of new data and measurement questions on growth, productivity, inflation, and welfare. Newly available granular and high-frequency (big) data offer the potential for more timely detection of vulnerabilities. In the wake of the crisis, Fund surveillance requires greater cross-country data comparability; staff and authorities face the complexity of integrating new data sources and closing data gaps, while working to address the weaknesses noted by the IEO Report (Behind the Scenes with Data at the IMF) in 2016. The overarching strategy is to move toward an ecosystem of data and statistics that enables the Fund and its members to better meet the evolving data needs in a digital world. It integrates Fund-wide work streams on data provision to the Fund for surveillance purposes, international statistical standards, capacity development, and data management under a common institutional objective. It seeks seamless access and sharing of data within the Fund, enabling cloud-based data dissemination to support data provision by member countries (e.g., the “global data commons”), closing data gaps with new sources including Big Data, and improving assessments of data adequacy for surveillance to help better prioritize capacity development. The Fund also will work with policymakers to understand the implications of the digital economy and digital data for the macroeconomic statistics, including new measures of welfare beyond GDP."
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1484378520
Category : Business & Economics
Languages : en
Pages : 108
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Book Description
The past year was one of growing economic anxiety tied to skepticism about both economic integration and an international approach to economic policy making. To help make globalization work for all, the IMF focused on providing policy advice in many macro-critical areas.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 82
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Book Description
The IMF Data Standards Initiatives enhance data transparency as a global public good. The Tenth Review updates the framework, in light of new data priorities, through a parsimonious and principles-based expansion of encouraged data categories covering selected aspects in the areas of public debt, macro-financial indicators, foreign exchange intervention, climate change-related policy, and gender- disaggregated labor market statistics. The Review also focuses on strengthening the monitoring of the first tier of the Data Standards Initiatives, the enhanced General Data Dissemination System (e-GDDS), and encouraging subscribers of the second tier, the Special Data Dissemination Standard (SDDS), to modernize data publication technology.
Author: International Monetary Fund. Secretary's Department
Publisher: International Monetary Fund
ISBN: 1498321569
Category : Business & Economics
Languages : en
Pages : 108
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Book Description
This issue of Annual Report discusses that the global economy is at a delicate moment. The expansion of early 2018 has lost momentum, in large part in response to rising trade tensions. There are threats from rising financial vulnerabilities and geopolitical uncertainties. These challenges call for policymakers to avoid missteps and to take the right policy steps: at home, across borders, and globally. In addition to several major reviews looking at IMF conditionality, economic and financial surveillance, and lending facilities, the management has deepened its analysis on trade spillovers and financial stability and are revamping frameworks for debt sustainability assessment in low-income and market access countries. Building on earlier research that showed how trade can boost incomes and living standards by enabling the flow of technology across countries, the October 2018 World Economic Outlook provided illustrative scenarios of the potential impact of escalating trade tensions between the United States and China.
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: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
ISBN: 1513536214
Category : Social Science
Languages : en
Pages : 43
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Book Description
This paper undertakes a triage of the backlog of open actions in Management Implementation Plans (MIPs) responding to recommendations by the Independent Evaluation Office (IEO), based on the Framework endorsed by the Board in March 2019.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1498310192
Category : Business & Economics
Languages : en
Pages : 58
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Book Description
"The Ninth Periodic Monitoring Report (PMR) on the Status of Management Implementation Plans (MIPs) in Response to Board-Endorsed Independent Evaluation Office (IEO) Recommendations assesses the progress made over the last year on actions contained in two “new” MIPs arising from recent IEO evaluations, and another seven for which individual management actions were classified as “open” in the Eighth PMR. Overall, 42 of the 96 actions included in the Ninth PMR remain open, representing roughly the same proportion as the previous PMR. A 25 percent net increase in open management actions over the past year is accounted for by 24 new actions from two MIPs, and 16 actions that have been implemented over the period. There is positive traction on the last four MIPs, but older actions appear challenging to implement. Better progress has been made with the implementation of the actions contained in recent MIPs. Fourteen of the actions implemented since the Eighth PMR relate to MIPs approved after October 2015, while only two actions (out of 24) from earlier MIPs were implemented. Improvements in the follow-up process approved by the Board in October 2015 have contributed to speedier implementation of recent actions, but some challenges remain. There are lingering challenges with defining measures of success for numerous actions, but accountabilities are now clearer and many actions are at advanced stages at the time of the Board’s discussion of the MIPs. This PMR introduces indicators to support the process for resolving challenges with long-standing actions. Despite the slower progress with the older actions, significant advances have been made over the past year in several key areas. These include: protocols for engaging the IEO; risk management and analysis; the mainstreaming of macrofinancial surveillance; an overarching strategy on data and statistics; guidance on cooperation with other organizations, including Regional Financing Arrangements (RFAs); improvements in External Stability Assessments; and ongoing analytical work on surveillance and program, including macrostructural issues, emerging topics, and debt sustainability analysis. On the other hand, progress has been slower on macro forecasting, outward spillovers, and cross-country knowledge sharing."
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
This management implementation plan (MIP) proposes eight reformulated actions that would benefit from further follow up, in line with the Board-approved Categorization of Open Actions in MIPs. The MIP aims to strengthening the continuity of the relationship between the Fund and member countries, enhancing knowledge sharing across successive country teams, improving incentives for sound data management, alleviating country authorities’ concerns about disclosure, and creating a more robust review process for working papers.
Author: Mr.Futoshi Narita
Publisher: International Monetary Fund
ISBN: 1484390172
Category : Business & Economics
Languages : en
Pages : 51
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Book Description
Timely data availability is a long-standing challenge in policy-making and analysis for low-income developing countries. This paper explores the use of Google Trends’ data to narrow such information gaps and finds that online search frequencies about a country significantly correlate with macroeconomic variables (e.g., real GDP, inflation, capital flows), conditional on other covariates. The correlation with real GDP is stronger than that of nighttime lights, whereas the opposite is found for emerging market economies. The search frequencies also improve out-of-sample forecasting performance albeit slightly, demonstrating their potential to facilitate timely assessments of economic conditions in low-income developing countries.
