Chapter

7. External Sector: Data Coverage, Periodicity, and Timeliness

Author(s):
International Monetary Fund. Statistics Dept.
Published Date:
December 2013
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7.1 This chapter discusses the coverage, periodicity, and timeliness of data of the external sector. It covers the balance of payments, external debt and debt service schedule, international reserves, the data template on international reserves and foreign currency liquidity, merchandise trade, international investment position, and exchange rates.

Balance of Payments

7.2 The balance of payments and the international investment position represent the two interrelated comprehensive statistical frameworks for the external sector, with the former covering external transactions over a specific period of time (flows) and the latter presenting external positions at a point in time (stocks). The IMF’s latest available Balance of Payments and International Investment Position Manual (sixth edition) provides the internationally accepted guidelines for the compilation of these data.

7.3 For the balance of payments, the GDDS recommends the dissemination of annual data within two quarters after the end of the reference year. However, quarterly data are strongly encouraged, within two quarters after the end of the reference quarter.

External Debt and Debt Service Schedule

7.4 The latest available External Debt Statistics: Guide for Compilers and Users provides the internationally accepted guidelines for the compilation of external debt statistics.

7.5 The GDDS recommends that the data cover: (i) the public and publicly guaranteed external debt, broken down by maturity; a breakdown by instrument is encouraged; (ii) public and publicly guaranteed external debt service schedule; the service schedule disaggregated by principal and interest is encouraged; and (iii) private external debt not publicly guaranteed; a private external debt service schedule is encouraged.

7.6 The GDDS recommends the dissemination of public and publicly guaranteed external debt data on a quarterly basis with a lag of 1–2 quarters. A semiannual periodicity with a lag of 1–2 quarters is recommended for a public and publicly guaranteed external debt service schedule. The GDDS recommends the dissemination of private external debt not publicly guaranteed data on an annual basis with a lag of 2–3 quarters.

7.7 Table 8, the external debt template, at the end of this chapter presents a framework for the presentation of the data based on the presentation shown in Table 4.1 of the latest available Debt Guide.

Official Reserve Assets

7.8 For countries with fixed exchange rates or less than fully flexible exchange rates, international reserves can serve as a tracking category, providing a more frequent and timely indicator of external sector developments than the comprehensive framework of balance of payments.

7.9 The GDDS recommends the dissemination of data on official reserve assets on a monthly basis within one to four weeks after the end of the reference month. Unlike balance of payments statistics, which are flow data covering transactions over a reference period, official reserves assets are stock data, referring to holdings of such assets at a point in time—for example, on the last day of a calendar month, or on the last day of a week, or on any given day.

7.10 The data are to cover foreign currency reserve assets, gold, reserve position in the IMF, SDRs, and other reserve assets. The definition of official reserve assets is provided in the latest available Balance of Payments Manual and is amplified in the IMF’s latest available International Reserves and Foreign Currency Liquidity, Guidelines for a Data Template (Reserves Template Guidelines). Presenting data in U.S. dollars or other SDR-basket currencies (euros, yen, and sterling) facilitates international comparisons.

7.11 If relevant, countries are encouraged to disseminate reserve-related liabilities to permit calculation of a net international reserves measure. Reserve-related liabilities refer to short-term foreign currency liabilities of the monetary authorities. They are also stock data referring to liabilities outstanding at a given point in time. To be useful for analysis, the stock data should refer to the same point in time as that for official reserve assets.

7.12 The coverage of reserve assets—and reserve-related liabilities, if relevant—is to be described in the metadata, with reference to the latest available Balance of Payments Manual and the Reserves Template Guidelines, noting differences between a country’s practices and the international guidelines.

Data Template on International Reserves and Foreign Currency Liquidity

7.13 The data template, an encouraged extension of official reserve assets, is to be disseminated on a monthly basis with no more than a three-month lag.

7.14 There are four integral sections of the data template:

  • (1) Official reserve assets and other foreign currency assets

  • (2) Predetermined short-term net drains on foreign currency assets

  • (3) Contingent short-term net drains on foreign currency assets

  • (4) Memo items

7.15 Dissemination of the data template requires that all of its four sections be released; the disclosure of nonactivity in certain items is as informative as the reporting of certain activities. The four sections of the template together are intended to provide a comprehensive picture of a country’s foreign currency liquidity position, facilitating assessments of a country’s external vulnerability, especially its risks to foreign currency shocks. Guidelines for reporting the template data are provided in the IMF’s latest available Reserves Template Guidelines.1

7.16 Table 7 at the end of this chapter presents the Data Template on International Reserves and Foreign Currency Liquidity. Participants are strongly encouraged to submit the data template to the IMF for re-dissemination on the IMF database at http://www.imf.org/external/np/sta/ir/index.htm. That database is maintained by the IMF’s Statistics Department; it presents historical data on countries’ data templates and allows users to view, print, and download the information.

Merchandise Trade

7.17 Merchandise trade serves as yet another tracking category for the balance of payments, providing a more frequent and timely indicator of developments in the current account of the balance of payments.

7.18 The GDDS recommends that data for merchandise trade on a monthly basis be disseminated within 2–3 months after the end of the reference month.

7.19 The GDDS recommends that both total merchandise imports and total merchandise exports be disseminated within the indicated timeliness. Dissemination of disaggregated components of imports and those of exports by major categories, even with a slightly longer lag if needed, is encouraged.

International Investment Position

7.20 The IIP shows a country’s financial claims on, and liabilities to, the rest of the world at a point in time.2 The GDDS recommends the dissemination of annual IIP data within 2–3 quarters after the end of the reference year. Data presented in the IIP are stock data. The IMF’s latest available Balance of Payments and International Investment Position Manual provides guidance on the compilation of IIP data.3

7.21 Key components of the IIP (corresponding to the major components of the financial account of the balance of payments) are shown ahead;4 assets and liabilities are to be separately shown accordingly:

  • Direct investment

  • Portfolio investment, disaggregated into equity securities and debt securities

  • Other investment

  • Reserve assets (included only in assets)

7.22 The GDDS strongly recommends a disaggregation of assets and liabilities by sector (monetary authorities or central bank, general government, other depository corporations, and other sectors).

Exchange Rates

7.23 The GDDS recommends dissemination of exchange rates daily. The GDDS recognizes that exchange rates are widely available from private sources and dissemination by official producers is therefore not time-sensitive. The metadata should indicate the principal nongovernmental primary sources, if any, of exchange rates. Official producers are, nevertheless, encouraged to redisseminate information on exchange rates.

Table 7.1Data Template on International Reserves and Foreign Currency Liquidity
(Information to be disclosed by the monetary authorities and other central government, excluding social security)1,2,3
I. Official reserve assets and other foreign currency assets (approximate market value)4
A. Official reserve assets
(1) Foreign currency reserves (in convertible foreign currencies)
(a) Securities
of which: issuer headquartered in reporting country but located abroad
(b) Total currency and deposits with:
(i) other national central banks, BIS and IMF
(ii) banks headquartered in the reporting country
of which: located abroad
(iii) banks headquartered outside the reporting country
of which: located in the reporting country
(2) IMF reserve position
(3) SDRs
(4) Gold (including gold deposits and, if appropriate, gold swapped)5
—volume in fine troy ounces
(5) Other reserve assets (specify)
—financial derivatives
—loans to nonbank nonresidents
—other
B. Other foreign currency assets (specify)
—securities not included in official reserve assets
—deposits not included in official reserve assets
—loans not included in official reserve assets
—financial derivatives not included in official reserve assets
—gold not included in official reserve assets
—other
Footnotes

In principle, only instruments denominated and settled in foreign currency (or those whose valuation is directly dependent on the exchange rate and that are settled in foreign currency) are to be included in categories I, II, and III of the template. Financial instruments denominated in foreign currency and settled in other ways (e.g., in domestic currency or commodities) are included as memo items under Section IV.

Netting of positions is allowed only if they have the same maturity, are against the same counterparty, and a master netting agreement is in place. Positions on organized exchanges could also be netted.

Monetary authorities defined according to the IMF Balance of Payments Manual.

In cases of large positions vis-à-vis institutions headquartered in the reporting country, in instruments other than deposits or securities, they should be reported as separate items.

The valuation basis for gold assets should be disclosed; ideally this would be done by showing the volume and price.

Including interest payments due within the corresponding time horizons. Foreign currency deposits held by nonresidents with central banks should also be included here. Securities referred to are those issued by the monetary authorities and the central government (excluding social security).

In the event that there are forward or futures positions with a residual maturity greater than one year, which could be subject to margin calls, these should be reported separately under Section IV.

Only bonds with a residual maturity greater than one year should be reported under this item, as those with shorter maturities will already be included in Section II.

Reporters should distinguish potential inflows and potential outflows resulting from contingent lines of credit and report them separately in the specified format.

In the event that there are options positions with a residual maturity greater than one year, which could be subject to margin calls, these should be reported separately under Section IV.

These “stress tests” are an encouraged, rather than a prescribed, category of information in the IMF’s Special Data Dissemination Standard (SDDS). Results of the stress tests could be disclosed in the form of a graph. As a rule, notional value should be reported. However, in the case of cash-settled options, the estimated future inflow/outflow should be disclosed. Positions are “in the money” or would be, under the assumed values.

Distinguish between assets and liabilities, where applicable.

Identify types of instruments; the valuation principles should be the same as in Sections I–III. Where applicable, the notional value of nondeliverable forward positions should be shown in the same format as for the nominal value of deliverable forwards/futures in Section II.

Only assets included in Section I that are pledged should be reported here.

Assets that are lent or repoed should be reported here, regardless of whether they have been included in Section I of the template, along with any associated liabilities (in Section II). However, these should be reported in two separate categories, depending on whether they have been included in Section I. Similarly, securities that are borrowed or acquired under repo agreements should be reported as a separate item and treated symmetrically. Market values should be reported and the accounting treatment disclosed.

Identify types of instruments. The main characteristics of internal models used to calculate the market value should be disclosed.

Source: IMF, International Reserves and Foreign Currency Liquidity, Guidelines for a Data Template, 2013.
II. Predetermined short-term net drains on foreign currency assets (nominal value)
Maturity breakdown (residual maturity)
TotalUp to 1 monthMore than 1 month and up to 3 monthsMore than 3 months and up to 1 year
1. Foreign currency loans, securities, and deposits6
—outflows (−)Principal
Interest
—inflows (+)Principal
Interest
2. Aggregate short and long positions in forwards and futures in foreign currencies vis-à-vis the domestic currency (including the forward leg of currency swaps)7
(a) Short positions (−)
(b) Long positions (+)
3. Other (specify)
—outflows related to repos (−)
—inflows related to reverse repos (+)
—trade credit (−)
—trade credit (+)
—other accounts payable (−)
—other accounts receivable (+)
Footnotes

In principle, only instruments denominated and settled in foreign currency (or those whose valuation is directly dependent on the exchange rate and that are settled in foreign currency) are to be included in categories I, II, and III of the template. Financial instruments denominated in foreign currency and settled in other ways (e.g., in domestic currency or commodities) are included as memo items under Section IV.

Netting of positions is allowed only if they have the same maturity, are against the same counterparty, and a master netting agreement is in place. Positions on organized exchanges could also be netted.

Monetary authorities defined according to the IMF Balance of Payments Manual.

In cases of large positions vis-à-vis institutions headquartered in the reporting country, in instruments other than deposits or securities, they should be reported as separate items.

The valuation basis for gold assets should be disclosed; ideally this would be done by showing the volume and price.

Including interest payments due within the corresponding time horizons. Foreign currency deposits held by nonresidents with central banks should also be included here. Securities referred to are those issued by the monetary authorities and the central government (excluding social security).

In the event that there are forward or futures positions with a residual maturity greater than one year, which could be subject to margin calls, these should be reported separately under Section IV.

Only bonds with a residual maturity greater than one year should be reported under this item, as those with shorter maturities will already be included in Section II.

Reporters should distinguish potential inflows and potential outflows resulting from contingent lines of credit and report them separately in the specified format.

In the event that there are options positions with a residual maturity greater than one year, which could be subject to margin calls, these should be reported separately under Section IV.

These “stress tests” are an encouraged, rather than a prescribed, category of information in the IMF’s Special Data Dissemination Standard (SDDS). Results of the stress tests could be disclosed in the form of a graph. As a rule, notional value should be reported. However, in the case of cash-settled options, the estimated future inflow/outflow should be disclosed. Positions are “in the money” or would be, under the assumed values.

Distinguish between assets and liabilities, where applicable.

Identify types of instruments; the valuation principles should be the same as in Sections I–III. Where applicable, the notional value of nondeliverable forward positions should be shown in the same format as for the nominal value of deliverable forwards/futures in Section II.

Only assets included in Section I that are pledged should be reported here.

Assets that are lent or repoed should be reported here, regardless of whether they have been included in Section I of the template, along with any associated liabilities (in Section II). However, these should be reported in two separate categories, depending on whether they have been included in Section I. Similarly, securities that are borrowed or acquired under repo agreements should be reported as a separate item and treated symmetrically. Market values should be reported and the accounting treatment disclosed.

Identify types of instruments. The main characteristics of internal models used to calculate the market value should be disclosed.

Source: IMF, International Reserves and Foreign Currency Liquidity, Guidelines for a Data Template, 2013.
III. Contingent short-term net drains on foreign currency assets (nominal value)
Maturity breakdown (residual maturity)
TotalUp to 1 monthMore than 1 month and up to 3 monthsMore than 3 months and up to 1 year
1. Contingent liabilities in foreign currency
(a) Collateral guarantees on debt falling due within 1 year
(b) Other contingent liabilities
2. Foreign currency securities issued with embedded options (puttable bonds)8
3. Undrawn, unconditional credit lines9 provided by:
(a) other national monetary authorities, BIS, IMF, and other international organizations
—other national monetary authorities (+)
—BIS (+)
—IMF (+)
(b) banks and other financial institutions headquartered in the reporting country (+)
(c) banks and other financial institutions headquartered outside the reporting country (+)
Undrawn, unconditional credit lines provided to:
(a) other national monetary authorities, BIS, IMF, and other international organizations
—other national monetary authorities (−)
—BIS (−)
—IMF (−)
(b) banks and other financial institutions headquartered in reporting country (−)
(c) banks and other financial institutions headquartered outside the reporting country (−)
4. Aggregate short and long positions of options in foreign currencies vis-à-vis the domestic currency10
(a) Short positions
(i) Bought puts
(ii) Written calls
(b) Long positions
(i) Bought calls
(ii) Written puts
PRO MEMORIA: In-the-money options11
(1) At current exchange rates
(a) Short position
(b) Long position
(2) +5% (depreciation of 5%)
(a) Short position
(b) Long position
(3) -5% (appreciation of 5%)
(a) Short position
(b) Long position
(4) +10% (depreciation of 10%)
(a) Short position
(b) Long position
(5) -10% (appreciation of 10%)
(a) Short position
(b) Long position
(6) Other (specify)
(a) Short position
(b) Long position
Footnotes

In principle, only instruments denominated and settled in foreign currency (or those whose valuation is directly dependent on the exchange rate and that are settled in foreign currency) are to be included in categories I, II, and III of the template. Financial instruments denominated in foreign currency and settled in other ways (e.g., in domestic currency or commodities) are included as memo items under Section IV.

Netting of positions is allowed only if they have the same maturity, are against the same counterparty, and a master netting agreement is in place. Positions on organized exchanges could also be netted.

Monetary authorities defined according to the IMF Balance of Payments Manual.

In cases of large positions vis-à-vis institutions headquartered in the reporting country, in instruments other than deposits or securities, they should be reported as separate items.

The valuation basis for gold assets should be disclosed; ideally this would be done by showing the volume and price.

Including interest payments due within the corresponding time horizons. Foreign currency deposits held by nonresidents with central banks should also be included here. Securities referred to are those issued by the monetary authorities and the central government (excluding social security).

In the event that there are forward or futures positions with a residual maturity greater than one year, which could be subject to margin calls, these should be reported separately under Section IV.

Only bonds with a residual maturity greater than one year should be reported under this item, as those with shorter maturities will already be included in Section II.

Reporters should distinguish potential inflows and potential outflows resulting from contingent lines of credit and report them separately in the specified format.

In the event that there are options positions with a residual maturity greater than one year, which could be subject to margin calls, these should be reported separately under Section IV.

These “stress tests” are an encouraged, rather than a prescribed, category of information in the IMF’s Special Data Dissemination Standard (SDDS). Results of the stress tests could be disclosed in the form of a graph. As a rule, notional value should be reported. However, in the case of cash-settled options, the estimated future inflow/outflow should be disclosed. Positions are “in the money” or would be, under the assumed values.

Distinguish between assets and liabilities, where applicable.

Identify types of instruments; the valuation principles should be the same as in Sections I–III. Where applicable, the notional value of nondeliverable forward positions should be shown in the same format as for the nominal value of deliverable forwards/futures in Section II.

Only assets included in Section I that are pledged should be reported here.

Assets that are lent or repoed should be reported here, regardless of whether they have been included in Section I of the template, along with any associated liabilities (in Section II). However, these should be reported in two separate categories, depending on whether they have been included in Section I. Similarly, securities that are borrowed or acquired under repo agreements should be reported as a separate item and treated symmetrically. Market values should be reported and the accounting treatment disclosed.

Identify types of instruments. The main characteristics of internal models used to calculate the market value should be disclosed.

Source: IMF, International Reserves and Foreign Currency Liquidity, Guidelines for a Data Template, 2013.
IV. Memo items
(1) To be reported with standard periodicity and timeliness:12
(a) short-term domestic currency debt indexed to the exchange rate
(b) financial instruments denominated in foreign currency and settled by other means (e.g., in domestic currency)13
—nondeliverable forwards
—short positions
—long positions
—other instruments
(c) pledged assets14
—included in reserve assets
—included in other foreign currency assets
(d) securities lent and on repo15
—lent or repoed and included in Section I
—lent or repoed but not included in Section I
—borrowed or acquired and included in Section I
—borrowed or acquired but not included in Section I
(e) financial derivative assets (net, marked to market)16
—forwards
—futures
—swaps
—options
—other
(f) derivatives (forward, futures, or options contracts) that have a residual maturity of greater than one year, which are subject to margin calls
—aggregate short and long positions in forwards and futures in foreign currencies vis-à-vis the domestic currency (including the forward leg of currency swaps)
(a) short positions (−)
(b) long positions (+)
—aggregate short and long positions of options in foreign currencies vis-à-vis the domestic currency
(a) short positions
(i) bought puts
(ii) written calls
(b) long positions
(i) bought calls
(ii) written puts
(2) To be disclosed at least once a year:
(a) currency composition of reserves (by groups of currencies)
—currencies in SDR basket
—currencies not in SDR basket
—by individual currencies (optional)
Footnotes

In principle, only instruments denominated and settled in foreign currency (or those whose valuation is directly dependent on the exchange rate and that are settled in foreign currency) are to be included in categories I, II, and III of the template. Financial instruments denominated in foreign currency and settled in other ways (e.g., in domestic currency or commodities) are included as memo items under Section IV.

Netting of positions is allowed only if they have the same maturity, are against the same counterparty, and a master netting agreement is in place. Positions on organized exchanges could also be netted.

Monetary authorities defined according to the IMF Balance of Payments Manual.

In cases of large positions vis-à-vis institutions headquartered in the reporting country, in instruments other than deposits or securities, they should be reported as separate items.

The valuation basis for gold assets should be disclosed; ideally this would be done by showing the volume and price.

Including interest payments due within the corresponding time horizons. Foreign currency deposits held by nonresidents with central banks should also be included here. Securities referred to are those issued by the monetary authorities and the central government (excluding social security).

In the event that there are forward or futures positions with a residual maturity greater than one year, which could be subject to margin calls, these should be reported separately under Section IV.

Only bonds with a residual maturity greater than one year should be reported under this item, as those with shorter maturities will already be included in Section II.

Reporters should distinguish potential inflows and potential outflows resulting from contingent lines of credit and report them separately in the specified format.

In the event that there are options positions with a residual maturity greater than one year, which could be subject to margin calls, these should be reported separately under Section IV.

These “stress tests” are an encouraged, rather than a prescribed, category of information in the IMF’s Special Data Dissemination Standard (SDDS). Results of the stress tests could be disclosed in the form of a graph. As a rule, notional value should be reported. However, in the case of cash-settled options, the estimated future inflow/outflow should be disclosed. Positions are “in the money” or would be, under the assumed values.

Distinguish between assets and liabilities, where applicable.

Identify types of instruments; the valuation principles should be the same as in Sections I–III. Where applicable, the notional value of nondeliverable forward positions should be shown in the same format as for the nominal value of deliverable forwards/futures in Section II.

Only assets included in Section I that are pledged should be reported here.

Assets that are lent or repoed should be reported here, regardless of whether they have been included in Section I of the template, along with any associated liabilities (in Section II). However, these should be reported in two separate categories, depending on whether they have been included in Section I. Similarly, securities that are borrowed or acquired under repo agreements should be reported as a separate item and treated symmetrically. Market values should be reported and the accounting treatment disclosed.

Identify types of instruments. The main characteristics of internal models used to calculate the market value should be disclosed.

Source: IMF, International Reserves and Foreign Currency Liquidity, Guidelines for a Data Template, 2013.
Footnotes

In principle, only instruments denominated and settled in foreign currency (or those whose valuation is directly dependent on the exchange rate and that are settled in foreign currency) are to be included in categories I, II, and III of the template. Financial instruments denominated in foreign currency and settled in other ways (e.g., in domestic currency or commodities) are included as memo items under Section IV.

Netting of positions is allowed only if they have the same maturity, are against the same counterparty, and a master netting agreement is in place. Positions on organized exchanges could also be netted.

Monetary authorities defined according to the IMF Balance of Payments Manual.

In cases of large positions vis-à-vis institutions headquartered in the reporting country, in instruments other than deposits or securities, they should be reported as separate items.

The valuation basis for gold assets should be disclosed; ideally this would be done by showing the volume and price.

Including interest payments due within the corresponding time horizons. Foreign currency deposits held by nonresidents with central banks should also be included here. Securities referred to are those issued by the monetary authorities and the central government (excluding social security).

In the event that there are forward or futures positions with a residual maturity greater than one year, which could be subject to margin calls, these should be reported separately under Section IV.

Only bonds with a residual maturity greater than one year should be reported under this item, as those with shorter maturities will already be included in Section II.

Reporters should distinguish potential inflows and potential outflows resulting from contingent lines of credit and report them separately in the specified format.

In the event that there are options positions with a residual maturity greater than one year, which could be subject to margin calls, these should be reported separately under Section IV.

These “stress tests” are an encouraged, rather than a prescribed, category of information in the IMF’s Special Data Dissemination Standard (SDDS). Results of the stress tests could be disclosed in the form of a graph. As a rule, notional value should be reported. However, in the case of cash-settled options, the estimated future inflow/outflow should be disclosed. Positions are “in the money” or would be, under the assumed values.

Distinguish between assets and liabilities, where applicable.

Identify types of instruments; the valuation principles should be the same as in Sections I–III. Where applicable, the notional value of nondeliverable forward positions should be shown in the same format as for the nominal value of deliverable forwards/futures in Section II.

Only assets included in Section I that are pledged should be reported here.

Assets that are lent or repoed should be reported here, regardless of whether they have been included in Section I of the template, along with any associated liabilities (in Section II). However, these should be reported in two separate categories, depending on whether they have been included in Section I. Similarly, securities that are borrowed or acquired under repo agreements should be reported as a separate item and treated symmetrically. Market values should be reported and the accounting treatment disclosed.

Identify types of instruments. The main characteristics of internal models used to calculate the market value should be disclosed.

Source: IMF, International Reserves and Foreign Currency Liquidity, Guidelines for a Data Template, 2013.
Table 7.2Gross External Debt Position by Sector ***
Gross External Debt PositionEnd Period
General Government
Short term
Money market instruments
Loans
Trade credits
Other debt liabilities*
Long term
Bonds and notes
Loans
Trade credits
Other debt liabilities*
Monetary Authorities
Short term
Money market instruments
Loans
Currency and deposits**
Other debt liabilities*
Long term
Bonds and notes
Loans
Currency and deposits**
Other debt liabilities*
Banks
Short term
Money market instruments
Loans
Currency and deposits2
Other debt liabilities*
Long term
Bonds and notes
Loans
Currency and deposits2
Other debt liabilities*
Other Sectors
Short term
Money market instruments
Loans
Currency and deposits2
Trade credits
Other debt liabilities*
Long term
Bonds and notes
Loans
Currency and deposits**
Trade credits
Other debt liabilities*
Direct Investment: Intercompany Lending
Debt liabilities to direct investment enterprises or fellow enterprises abroad
Debt liabilities to direct investors
Gross External Debt
Source: SDDS legal text published at www.imf.org/external/np/pp/eng/2012/090712.pdf.

Note:

Other debt liabilities are other liabilities in the IIP statement.

It is recommended that all currency and deposits be included in the short-term category unless detailed information is available to make the short-term/long-term attribution.

Based on BPM5 categories; BPM6 basis data should be presented in equivalent detail.

Source: SDDS legal text published at www.imf.org/external/np/pp/eng/2012/090712.pdf.

Note:

Other debt liabilities are other liabilities in the IIP statement.

It is recommended that all currency and deposits be included in the short-term category unless detailed information is available to make the short-term/long-term attribution.

Based on BPM5 categories; BPM6 basis data should be presented in equivalent detail.

An electronic version of this publication is available at http://dsbb.imf.org/pages/sdds/sddsguide.aspx.

Note that monetary gold and SDRs, as components of reserve assets, are covered under the IIP.

An electronic version of the IMF’s Balance of Payments and International Investment Position Manual (sixth edition) can be found on the IMF’s website: http://www.imf.org/external/pubs/ft/bop/2007/pdf/bpm6.pdf.

The components are in accordance with BPM5 categories. Data on financial derivatives assets and liabilities (or on net financial derivatives) are encouraged extensions. BPM6 basis data should be presented in equivalent detail.

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