Chapter

Introduction

Author(s):
Carlos Sanchez-Munoz, Paul Austin, Alicia Hierro, and Tamara Razin
Published Date:
February 2020
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1. The IMF Committee on Balance of Payments Statistics (Committee) was set up by the IMF Executive Board in February 1992. Initially, its main purpose was to oversee the implementation of the recommendations of two studies on imbalances in the recorded world current account and financial flows. The Committee’s mandate has broadened over the years to (i) advise on setting methodological standards on external sector statistics (ESS); (ii) improve the availability, consistency, and reliability of balance of payments and international investment position (IIP) statistics; (iii) address data gaps on financial interconnectedness and balance sheet analysis; (iv) foster greater coordination of data compilation and dissemination among countries; and (v) facilitate the exchange of statistics.1

2. The Committee held its thirty-second meeting during October 29– November 1, 2019, in Thimphu, Bhutan, hosted by the Royal Monetary Authority of Bhutan. The meeting attendees are listed in Appendix I.

3. The following three sections of this Annual Report examine recent trends in global balance of payments and IIP data; review the work undertaken by the Committee in 2019; and outline the Committee’s work program for 2020.

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