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

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

(As of September 30, 2017)

Membership Status: Joined: August 31, 1951; Article VIII.

General Resources Account:SDR MillionPercent of Quota
Quota4,430.00100.00
Fund holdings of currency (Exchange Rate)4,288.8196.81
Reserve Tranche Position141.203.19
Lending to the Fund
New Arrangements to Borrow294.31
SDR Department:SDR MillionPercent Allocation
Net cumulative allocation2,248.96100.00
Holdings2,057.0691.47

Outstanding Purchases and Loans: None

Latest Financial Arrangements: None

Projected Payments to Fund:

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

Forthcoming
20172018201920202021
Principal
Charges/Interest0.261.101.101.101.10
Total0.261.101.101.101.10

Exchange Rate Arrangements:

The Krona has been floating freely since November 19, 1992. Sweden has accepted the obligations of Article VIII (sections 2(a), 3 and 4) and maintains an exchange system free of restrictions on payments and transfers for current international transactions, apart from those notified to the Fund pursuant to Decision No. 144-(52/51).

Resident Representative: None

Article IV Consultation:

Sweden is on the 12-month consultation cycle.

FSAP Participation:

A mandatory FSAP has been conducted in time for the 2016 Article IV consultation, in line with the five-year cycle for members or members’ territories with financial sectors that are determined to be systemically important pursuant to Decision No. 15495-(13/111), adopted December 6, 2013.

Statistical Issues

(As of October 7, 2017)

I. Assessment of Data Adequacy for Surveillance
General: Data provision is adequate for surveillance. The country has a full range of statistical publications, many of which are on the internet. The quality and timeliness of the economic database are generally very good.
II. Data Standards and Quality
Subscriber to the Fund’s Special Data Dissemination Standard (SDDS) since May 31, 1996. Uses an SDDS flexibility option for timeliness on the data category production index.

The authorities have expressed initial interest to adhere to the Special Data Dissemination Standard Plus.
A data ROSC was published in September 2001, followed by an update in November 2002.

National Accounts: Sweden publishes the national accounts according to the European System of Accounts (ESA) 2010 since September 2014.

Government Finance Statistics: Government finance statistics were published based on ESA 2010 methodology in September 2014.

External Sector Statistics: Sweden publishes external sector statistics based on the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) format since December 2014.

Monetary and Financial Statistics: Monetary data reported for International Financial Statistics are based on the European Central Bank’s (ECB) framework for collecting, compiling, and reporting monetary data.

Sweden: Table of Common Indicators Required for Surveillance(As of October 7, 2017)
Date of latest observationDate receivedFrequency of Data7Frequency of Reporting7Frequency of Publication7
Exchange RatesCurrentCurrentDDD
International Reserve Assets and Reserve Liabilities of the Monetary Authorities12017/10/012017/10/07WWW
Reserve/Base Money2017/10/012017/10/07WWW
Broad Money2017/10/012017/10/07WWW
Central Bank Balance Sheet2017/10/012017/10/07WWM
Consolidated Balance Sheet of the Banking System2017/092017/10MMM
Interest Rates2CurrentCurrentDDD
Consumer Price Index2017/92017/10MMM
Revenue, Expenditure, Balance and Composition of Financing3––General Government420152017/8AAA
Revenue, Expenditure, Balance, and Composition of Financing3––Central Government20152017/8AAA
Stocks of Central Government and Central Government-Guaranteed Debt520152017/8AAA
External Current Account Balance2017 Q22017/08QQQ
Exports and Imports of Goods and Services2017 Q22017/08QQQ
GDP2017 Q22017/09QQQ
Gross External Debt
International Investment Position62017 Q22017/08QQQ

Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.

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.

Includes external gross financial asset and liability positions vis-à-vis nonresidents.

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

Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.

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.

Includes external gross financial asset and liability positions vis-à-vis nonresidents.

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

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