Back Matter

Back Matter

Author(s):
International Monetary Fund. Statistics Dept.
Published Date:
February 2018
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Appendix I. Membership of the IMF Committee on Balance of Payments Statistics and Representatives of International Organizations (As of December 31, 2017)
Chair
Louis Marc Ducharme

IMF, Statistics Department
Members
Grace Akrofi1

Bank of Ghana
François Mouriaux

Banque de France
Malik Bani Hani

Central Bank of Jordan
Naglaa Nozahie

Central Bank of Egypt
Pim Claassen

De Nederlandsche Bank
Robert Pupynin

Central Bank of the Russian Federation
Kenneth Egesa

Bank of Uganda
Gabriel Quirós

IMF, Statistics Department
Paul Farello

Bureau of Economic Analysis

United States
Fernando Rocha

Banco Central do Brasil
Keiji Fukuzawa

Bank of Japan
Yangchen Tshogyel

Royal Monetary Authority of Bhutan
Rosabel B. Guerrer

Bangko Sentral ng Pilipinas
Carlos Sánchez-Muñoz

IMF, Statistics Department
Jian Han

State Administration of Foreign Exchange

People’s Republic of China
Ursula Schipper

Deutsche Bundesbank

Germany
Miyuki Izumiyama

Ministry of Finance, Japan
Consuelo Soto

Central Reserve Bank of Peru

Did not attend the October 2017 Committee meeting.

Did not attend the October 2017 Committee meeting.

Representatives of International OrganizationsSecretariat (IMF, Statistics Department)
Bank for International Settlements

Philip Wooldridge
Alicia Hierro

Tamara Razin
European Central Bank

Caroline Willeke
European Commission-Eurostat

Ales Capek
Organization for Economic Co-operation and Development

Fabienne Fortainer
United Nations Conference on Trade and Development

Astrit Sulstarova
United Nations Statistics Division

Ivo Havinga

The Committee’s Terms of Reference are available at http://www.imf.org/external/bopage/bopindex.htm.

Includes 177 IMF members, 12 economies—non-IMF members, and three currency unions.

While, at the global level, the balance of payments current account balances for all economies and international organizations (IOs) combined should be zero, in practice, they are not. Global current account imbalances are of interest to the Committee, as they are a symptom, among others, of estimation errors, incomplete coverage, and asymmetric valuation that, when large, could lead to analytical mistakes.

As in the case of the current account global balance, global financial flows should also cancel out and sum up to zero since any positive financial account balance of any country vis-à-vis the rest of the world (except for holdings of monetary gold bullion) should be offset by a negative financial account balance of its counterparts altogether.

Gold bullion included in monetary gold is recorded as an asset in the IIP accounts, and there is no corresponding liability. Based on data published in the World Tables in International Financial Statistics, holdings of monetary gold were US$ 1.2 trillion at end-2016.

The latter topics will be tackled when launching the process of revisiting the Balance of Payments Manual. Among others, IMF departments have identified topics such as developing stock-flow reconciliation tables, revisiting the definition of income, and assessing additional data needs on the currency composition of cross-border flows and stocks.

STA will start disseminating currency composition data when they are reported by a critical mass of countries.

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