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JAPAN Staff Report for the 2009 Article IV Consultation—Informational Annex

Author(s):
International Monetary Fund
Published Date:
July 2009
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Annex I. Japan— Statistical Issues

Statistical Issues: Economic and financial data provided to the Fund are considered adequate for surveillance purposes. Japan subscribes to the Special Data Dissemination Standard (SDDS) and meets the SDDS specifications for the coverage, periodicity, and timeliness of data. The Japanese authorities hosted a data module mission for a Report on the Observance of Standards and Codes (data ROSC) in September 12–28, 2005. The Report on Observance of Standards and Codes -Data Module, Response by the Authorities, and Detailed Assessments Using the Data Quality Assessment Framework (DQAF) were published March 17, 2006 and are available at http://www.imf.org/external/pubs/ft/scr/2006/cr06115.pdf.

Japan: Table of Common Indicators Required for Surveillance (as of June 8, 2009)
Date of Latest ObservationDate ReceivedFrequency of Data6Frequency of Reporting6Frequency of Publication6Memo Items:
Data Quality – Methodological soundness7Data Quality – Accuracy and reliability8
Exchange RatesJune 2009June 2009DDD
International Reserve Assets and Reserve Liabilities of the Monetary Authorities1May 2009June 2009MMM
Reserve/Base MoneyMay 2009June 2009MMMLO, LO, LO, LOO, O, O, O, O
Broad MoneyMay 2009June 2009MMM
Central Bank Balance Sheet5/31/096/2/09Every 10 daysEvery 10 daysEvery 10 days
Consolidated Balance Sheet of the Banking SystemApr 2009June 2009MMM
Interest Rates2June 2008June 2008DDD
Consumer Price IndexMay 2009May 2009MMMO, LO, O, OO, O, LO, O, O
Revenue, Expenditure, Balance and Composition of Financing3 - General Government42007Feb 2009AAAO, LNO, O, OLO, O, O, O, LO
Revenue, Expenditure, Balance and Composition of Financing3- Central Government2007Feb 2009AAA
Stocks of Central Government and Central Government-Guaranteed Debt5Mar 2009May 2009QQQ
External Current Account BalanceApr 2009June 2009MMMO, O, LO, OLO, O, O, O, O
Exports and Imports of Goods and ServicesApr 2009June 2009MMM
GDP/GNP2009 Q1May 2009QQQO, O, O, O,LO, LO, O, O, LNO
Gross External DebtMar 2009June 2009QQQ

Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.

Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

Foreign, domestic bank, and domestic nonbank financing.

The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).

Reflects the assessment provided in the data ROSC or the Substantive Update (published on May 17, 2006, and based on the findings of the mission that took place during September 2005) for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O); largely observed (LO); largely not observed (LNO); not observed (NO); and not available (NA).

Same as footnote 7, except referring to international standards concerning (respectively) source data and its assessment, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.

Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.

Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

Foreign, domestic bank, and domestic nonbank financing.

The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).

Reflects the assessment provided in the data ROSC or the Substantive Update (published on May 17, 2006, and based on the findings of the mission that took place during September 2005) for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O); largely observed (LO); largely not observed (LNO); not observed (NO); and not available (NA).

Same as footnote 7, except referring to international standards concerning (respectively) source data and its assessment, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.

Annex II. Japan—Fund Relations

(As of April 30, 2009)

I. Membership Status: Joined 8/13/52; Article VIII

II. General Resources Account:

SDR Million% Quota
Quota13,312.80100.00
Fund holdings of currency11,187.4884.04
Reserve position in Fund2,125.9515.97

III. SDR Department:

SDR Million% Allocation
Net cumulative allocation891.69100.00
Holdings1,944.39218.06

IV. outstanding purchases and Loans: None

V. Latest Financial Arrangements: None

VI. Projected Obligations to Fund: None

VII. Exchange Rate Arrangement:

Japan maintains a floating exchange rate regime. The exchange system is free of restrictions on the making of payments and transfers for current international transactions, with the exceptions of restrictions maintained against the Taliban, Al-Qaeda, the former Iraqi regime, and others, pursuant to UN Security Council Resolutions 1267, 1333, 1390, 1373, 1483, and 1532.

VIII. Article IV Consultation:

The 2008 Article IV consultation discussions were held during May 13–22, 2008; the Executive Board discussed the Staff Report (IMF Country Report No. 08/253) and concluded the consultation on July 21, 2008. The concluding statement, staff report, staff supplement, selected issues paper, and PIN were all published.

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