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Norway: Staff Report for the 2017 Article IV Consultation—Informational Annex

Author(s):
International Monetary Fund. European Dept.
Published Date:
July 2017
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Fund Relations

(As of May 31, 2017)

Membership Status

Joined: December 27, 1945; Article VIII

General Resources Account

SDR MillionsPercent Quota
Quota3,754.70100.00
Fund holdings of currency3,524.7993.88
Reserves tranche position229.936.12
Lending to the Fund
New Arrangements to Borrow302.90

SDR Department

SDR MillionsPercent Allocation
Net cumulative allocations1,563.07100.00
Holdings1385.2688.62

Outstanding Purchases and Loans

None

Latest Financial Arrangements

None

Projected Payments to the Fund

(SDR Million; based on existing use of resources and present holdings of SDRs)

Forthcoming
20172018201920202021
Principal
Charges/Interest0.491.021.021.021.02
Total0.491.021.021.021.02

Implementation of HIPC Initiative

Not applicable

Implementation of Multilateral Debt Relief Initiative

Not applicable

Implementation of Catastrophe Containment and Relief (CCR)

Not applicable

Exchange Arrangements

The de jure and de facto exchange rate arrangements in Norway are classified as freely floating. The exchange system is free of restrictions on the making of payments and transfers for current international transactions other than restrictions notified to the Fund in accordance with Decision No. 144-(52/51).

Article IV Consultation

Norway is on the 12-month consultation cycle.

FSAP Participation

A review under the Financial Sector Assessment Program (FSAP) was completed in 2015.

Technical Assistance

None

Resident Representative

None

Statistical Issues

Statistical Issues Appendix(As of May 31, 2017)
I. Assessment of Data Adequacy for Surveillance
General: Data provision is adequate for surveillance.
National Accounts: Breakdowns for oil-related parts of the mainland economy and other traditional sectors would be useful, in light of growing needs to better understand the impact of oil and gas activity on the mainland economy. The authorities are making progress in this area.
II. Data Standards and Quality
Subscriber to the Fund’s Special Data Dissemination Standard (SDDS) since 1996. Uses SDDS flexibility options on the timeliness of the general government operations and central government debt. SDSS metadata are posted on the Dissemination Standard Bulletin Board (DSBB).Data ROSC completed in 2003 is publicly available.
Norway: Table of Common Indicators Required for Surveillance(As of May 31, 2017)
Date of latest observation (For all dates in table, please use format dd/mm/yy)Date receivedFrequency of Data7Frequency of Reporting7Frequency of Publication7Memo Items:8
Data Quality – Methodological soundness9Data Quality – Accuracy and reliability10
Exchange Rates31/05/1731/05/17DDD
International Reserve Assets and Reserve Liabilities of the Monetary Authorities104/1705/17MMM
Reserve/Base Money04/1705/17MMM
Broad Money04/1705/17MMMO, O,O, LOO, O, O, O, O
Central Bank Balance Sheet04/1705/17MMM
Consolidated Balance Sheet of the Banking System04/1705/17MMM
Interest Rates204/1705/17MMM
Consumer Price Index04/1705/17MMMO, O, O, OO, O, O, O, O
Revenue, Expenditure, Balance and Composition of Financing3 – General Government420162017AAALO, LNO, O, OLO, O, O, O, LO
Revenue, Expenditure, Balance and Composition of Financing3– Central Government04/1705/17MMM
Stocks of Central Government and Central Government-Guaranteed Debt5Q4 201703/17QQQ
External Current Account BalanceQ1 201705/17QQQ
Exports and Imports of Goods and ServicesQ1 201705/17QQQO, O, O, OLO, O, O, O, LO
GDP/GNPQ1 201705/17QQQO, O, O, OO, O, O, O, LO
Gross External DebtQ4 201603/17QQQ
International Investment Position6Q4 201603/17QQQ

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