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International Monetary Fund. Strategy, Policy, & and Review Department
"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."
International Monetary Fund. Legal Dept.

Abstract

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.

International Monetary Fund. Legal Dept.

Abstract

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.

International Monetary Fund. Independent Evaluation Office

Abstract

This report examines whether the IMF has effectively leveraged an important asset: data. It finds that in general, the IMF has been able to rely on a large amount of data of acceptable quality, and that data provision from member countries has improved markedly over time. Nonetheless, problems with data or data practices have, at times, adversely affected the IMF’s surveillance and lending activities. The roots of data problems are diverse, ranging from problems due to member countries’ capacity constraints or reluctance to share sensitive data to internal issues such as lack of appropriate staff incentives, institutional rigidities, and long-standing work practices. Efforts to tackle these problems are piecemeal, the report finds, without a clear comprehensive strategy that recognizes data as an institutional strategic asset, not just a consumption good for economists. The report makes a number of recommendations that could promote greater progress in this regard.

International Monetary Fund
The International Monetary Fund’s Executive Board regularly reviews progress and developments under the Data Standards Initiatives. The last review—Eighth Review—undertaken in February 2012 introduced the Special Data Dissemination Standard (SDDS) Plus. In light of the long experience under the Data Standards Initiatives established in the mid-1990s, this review takes a longer term retrospective on what has been achieved so far, and highlights some of the lessons learned. What is evident is the contrast between the progress of countries with more advanced dissemination practices (SDDS and SDDS Plus), and the slow pace of improvement under the General Data Dissemination System (GDDS).
International Monetary Fund
The 2012 Article IV Consultation on Mauritius reports that the outlook for growth and inflation is broadly positive, although growth is likely to slow somewhat to below 4 percent. The cyclical component of Mauritius’ fiscal balance is projected to be small. A less expansionary fiscal stance than currently projected by IMF staff would contribute to building policy buffers and reducing relatively high debt levels. In the event of a deterioration in the external environment, automatic stabilizers should be allowed to work, and limited fiscal stimulus could also be considered.
International Monetary Fund
In December 2008, the IMF Executive Board discussed the Seventh Review of Data Standards Initiatives, and Directors requested staff to return to the Board within about a year with a proposal for the inclusion of selected financial indicators in the Special Data Dissemination Standard (SDDS). This paper responds to the 2008 request taking into account recent developments. The recent financial crisis has heightened the need for policymakers, financial regulators and capital market participants to put in place conditions that would help prevent the occurrence of similar crises in the future. One of the areas identified by the international community as key in crises prevention is the availability of timely and more detailed financial data that could provide early warning signals of impending risks and vulnerabilities
International Monetary Fund
As part of the IMF Statistics Department (STA)' s program to evaluate its technical assistance (TA) and training provided to member countries, and with the support of the Chinese authorities and the Fund’s Asia and Pacific Department (APD), a TA/training evaluation mission visited China during March 16-20, 2009. The objectives of the mission were to: (1) evaluate the effectiveness of STA’s TA and training to China during the period 2003-2008; (2) elicit China’s views on how to broaden and enhance the technical cooperation between STA and China; (3) consider the role of the General Data Dissemination System (GDDS) in support of China’s statistical development; and (4) discuss TA and training priorities for the next two years.