Back Matter

Back Matter

Author(s):
International Monetary Fund. Statistics Dept.
Published Date:
February 2017
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    Appendix I. Membership of the IMF Committee on Balance of Payments Statistics and Representatives of International Organizations

    (As of December 31, 2016)

    Chair

    Louis Marc Ducharme

    IMF, Statistics Department

    Members

    Malik Bani Hani

    Central Bank of Jordan

    Pim Claassen

    De Nederlandsche Bank

    Kenneth Egesa

    Bank of Uganda

    Rosabel B. Guerrero

    Bangko Sentral ng Pilipinas

    Kenichi Habu

    Ministry of Finance, Japan

    Jian Han

    State Administration of Foreign Exchange

    People’s Republic of China

    Paul Mahoney

    Australian Bureau of Statistics

    François Mouriaux

    Banque de France

    Takeshi Nakamura

    Bank of Japan

    Naglaa Nozahie

    Central Bank of Egypt

    Robert Pupynin

    Central Bank of the Russian Federation

    Fernando Rocha

    Banco Central do Brasil

    Carlos Sánchez-Muñoz

    IMF, Statistics Department

    Ursula Schipper

    Deutsche Bundesbank

    Germany

    Yeşim Şişik

    Central Bank of Turkey

    Sarahelen Thompson

    Bureau of Economic Analysis

    United States

    Stefaans Walters

    Reserve Bank of South Africa

    Representatives of International Organizations

    Bank for International Settlements

    Philip Wooldridge

    European Central Bank

    Remigio Echeverria

    European Commission-Eurostat

    Silke Stapel-Weber

    Organization for Economic Co-operation and Development

    Maria Borga

    United Nations Conference on Trade and Development

    Astrit Sulstarova

    United Nations Statistics Division

    Ivo Havinga

    Secretariat (IMF, Statistics Department)

    Alicia Hierro

    Tamara Razin

    The Committee’s Terms of Reference are available at http://www.imf.org/external/bopage/bopindex.htm.

    In principle, at the global level, the balance of payments account balances for all economies and international organizations (IOs) combined should be zero, whereas, in practice, the data do not equal zero. The balances are of interest to the Committee, as they are a symptom of estimation errors that, when large, could lead to analytical mistakes. It is noteworthy that a prime reason for the creation of the Committee was the concern about the size of statistical estimation errors. A number of factors contribute to the global balances (equal to net errors and omissions with the sign reversed). In particular, net errors and omissions arise from incomplete coverage, misclassifications, different timing, and asymmetric valuations.

    As in the case of the current account global balance, global financial flows should also cancel out and sum up to zero since any positive financial account balance of any country vis-à-vis the rest of the world should be offset by a negative financial account balance of its counterparts altogether.

    Gold bullion included in monetary gold is recorded as an asset in the IIP accounts, and there is no corresponding liability. Based on data published in the World Tables in International Financial Statistics, holdings of monetary gold were US$ 1.1 trillion at end-2015.

    Include countries that are able to provide the currency composition only for some financial instruments.

    STA will start disseminating data on currency composition when data are reported by a critical mass of countries.

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