This Report on the Observance of Standards and Codes (ROSC) data module provides an assessment of Bangladesh’s macroeconomic statistics against the recommendations of the General Data Dissemination System (GDDS) complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework. With some exceptions, the coverage, periodicity, and timeliness of macroeconomic statistics meet the GDDS recommendations. Guided by GDDS plans for improvement, the Bangladesh Bureau of Statistics, the Ministry of Finance, and the Bangladesh Bank have demonstrated commitment to continuously improve the compilation and dissemination of macroeconomic statistics.
International Monetary Fund. Independent Evaluation Office
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.
Data dissemination practices in Bosnia and Herzegovina meet many of the General Data Dissemination System recommendations for dissemination of macroeconomic statistics in terms of coverage, periodicity, and timeliness. Executive Directors suggest strengthening the mandate of the Bosnia and Herzegovina Agency for Statistics (BHAS) to coordinate a cohesive national statistical program, finalizing and publishing the constant price gross domestic product (GDP) estimates and the expenditure components of GDP. It is also recommended that data validation at all stages be improved and that the accuracy and reliability of the final results be enhanced.
This Report on the Observance of Standards and Codes data module provides an assessment of Chad’s macroeconomic statistics against the recommendations of the General Data Dissemination System complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework. The assessment reveals that Chad’s performance on macroeconomic statistics is weak in national accounts and government finance statistics. In addition, there is room for improvement in monetary and balance of payments statistics.
The quality of the macroeconomic statistics is generally high, broadly conforming to international standards for compilation and dissemination, although coverage of illicit activities is poor. Executive Directors suggest reviewing the legal framework for statistical activity, including strengthening the institutional and financial independence of the National Administrative Department of Statistics. Further strengthening is needed in the areas of national accounts and government finance statistics. Developing a methodology to include unrecorded trade in the balance of payments on a timely basis is also required.
The paper discusses a model in which growth is a negative function of fiscal burden. Moreover, growth discontinuously switches from high to low as the fiscal burden reaches a critical level. The paper provides an overview of key elements of corporate bankruptcy codes and practice around the world that are relevant to the debate on sovereign debt restructuring. It also describes the broad trends in international financial integration for a sample of industrial countries and explains the cross-country and time-series variation in the size of international balance sheets.
The coordinated Portfolio Investment Survey Guide is provided to assist balance of payments compilers in the conduct of an internationally coordinated survey of security holdings being conducted under the auspices of the IMF with reference to year-end 1997. The Guide has two main purposes: to set out the objectives of the Coordinated Survey; and to provide practical advice on how to prepare, organize, and conduct a national survey. The appendices include three model survey forms, a glossary of security terms, a listing of the major security databases that national compilers may find useful in their work, and a method for reconciling security position and transactions data.