Evaluate the resources required to strengthening the National Accounts Division (NAD), to accomplish the actions mentioned in this Plan.

Assign additional and upgrade computer equipment and software.

Establish a mechanism to contact users and identify their opinion on the usefulness of the national accounts and their new and emerging data requirements.

Review the recommendation and practical implication in the external sector and national accounts of splitting multiterritory enterprises (single enterprises—such as hydroelectric schemes on border rivers—with large operations in two or more territories but with unidentifiable branches) into separate units prorated on the basis of equity shares and other factors (recommended by the BOP Technical Expert Group working on the 1993SNA and BPM5 update). Collaboration between compilers of the territories concerned is needed.

Formulate a project to compile the set of institutional sector accounts as a second stage of the 1993 SNA implementation process.

Compile an integrated economic account for the total economy and the rest of the world accounts (until net lending), attending the minimum requirements established by ISWGNA to consider that the 1993 SNA is being implemented.

Reactivate the discontinued supply and use tables, incorporating the presently compiled aggregates and some additional available information, in order to use them as an internal consistency compilation tool.

Apply to the government consumption expenditures a functional classification. Apply a classification by purposes (COICOP) to households consumption expenditure, once data from the income and expenditure survey, being jointly conducted by the CBP and the DGSSC, will be available .

Assess the recording of government’s expenditures on an “obligado” basis, and evaluate how adequate it is as a proxy for an accrual basis.

Formulate a comprehensive data collection program of economic censuses and surveys.

Conduct the programmed economic censuses, covering industry, trade and service activities.

Formulate and implement a project to update the national accounts’ reference year.

Assess the possibility of applying the perpetual inventory method to estimate consumption of fixed assets.

Compile a Volume Index of Industrial Production and improve the coverage and quality of volume measures for construction, commerce and service activities.

Assess the possibility of compiling directly the changes in inventories for some important products.

Evaluate the requirements and availability of basic data for the compilation of quarterly GDP accounts and prepare an implementation plan.

Assess the possibility of using the DGSSC’s permanent households survey, and other sources, whereas available, to estimate the participation of the informal sector in GDP, and changes through time in employment and income generation.

Apply a better method for the recording of consumption expenditure of nonresident visitors.

Disseminate GDP by production and expenditure approaches, without waiting to complete the income approach, in order to better attend users improve timeliness.

Prepare and disseminate a bridge table, showing how to reconcile the national accounts and GFS figures.

Disseminate a schedule for the revision cycle of the national accounts and explain reasons for its adoption.

Identify revised data in the publications and explain the revisions.

Inform the public about the possibility and procedures to get access to data that not disseminated.

Disseminate a preannounced schedule with the dates the statistics will be released, and release statistics according to the preannounced schedule.

Prepare the metadata for the new national accounts series for inclusion in the GDDS website.

Provide the users a specific point of contact for national accounts.

Upgrade computer equipment and software.

Provide adequate staff, as well as targeted training, for additional planned tasks, such as updating the CPI, based on the supply table by product.

Conduct a structure/periodic process of consultation with data users to obtain their views on the relevance and practical utility of the data.

Prepare monthly reports to inform management of the quality of surveys’ data (surveys’ response rate, coverage, response errors, etc.).

Prepare a plan to compile a new CPI with updated weights and 2007 as the reference year.

Follow the recommendations of the IMF’s Consumer Price Index Manual 2004, the ILO, and the 1993 SNA/1995 ESA for the definition of all monetary household consumption expenditures.

Compiling a new CPI with broader share of consumption expenditure and geographic coverage.

Define the basket of a new CPI using systems broadly consistent with internationally accepted standards, in accordance with:

Update the new CPI basket of goods and the system of weights, using data from the 2005/2006 Household Budget Survey.

Asses CPI data source and calculate the variance or sampling errors to guide the new CPI sample design.

Employ better statistical techniques to improve treatment of seasonal products, missing items, quality changes, and introduction of new products.

Disseminate a preannounced schedule with the dates the statistics are to be released, and release statistics according to the preannounced schedule.

Improve the dissemination of contact points by e-mail and on the web page.

Upgrade computer equipment and software.

Provide adequate staff, as well as targeted training, for additional planned tasks, such as updating the producer price index, based on the supply table by product.

Conduct a structure/periodic process of consultation on data users’ views on the relevance and practical utility of price statistics (preferably through users’ surveys).

Prepare monthly reports to inform management of the quality of surveys’ data (surveys’ response rate, coverage, response errors, etc.).

Prepare a plan to improve the quality of the PPI, using data from the supply/use tables based on the new national accounts series.

Adopt the concepts and definitions following the 1993 SNA, such as the inclusion of new PPI weights, changes in inventories, and own-account production for final use. series.

Change the base year of the PPI, updating its weights by using output by industry including all goods producing activities.

Update the PPI basket of goods and the system of weights in order to improve the coverage of current national output, using data from the supply/use tables based on the new national accounts series.

Assess PPI data source and calculate the variance or sampling errors to guide the new PPI sample design.

Assess PPI data source and calculate response rate, coverage, response errors, etc.

Employ better statistical techniques to improve treatment of seasonal products, missing items, quality changes, and introduction of new products.

Adopt the recommendations in the 1993 SNA and the new PPI Manual 2004, including:

• Inclusion of work in progress in the in the agricultural PPI weights;

• Use of the geometric mean for price changes; and

• Calculation of retroactive index series using chain linking, between old a new series.

Base PPI updates on a program of regular censuses and surveys.

Disseminate electronic tables and longer time series in addition to “pdf” formats.

Disseminate a preannounced schedule with the dates the statistics are to be released, and release statistics according to the preannounced schedule.

Improve the dissemination of contact points by e-mail and on the web page.

Establish a MOF/BCP working group to reconcile GFS data classified above-the-line with those below-the-line.

Establish a working group in the MOF, including staff of the FPD, accounting and public credit and debt units to improve data sharing and coordination.

Attend courses offered by the IMF and other organization on GFS methodology.(Two economists, one from the MOF and other from the CBP, will attend to the 2006 GFS course based on the GFSM 2001 methodology.)

Establish mechanisms to obtain feedback from GFS users regarding relevance and practical utility of fiscal data.

Establish mechanisms, legal and technical, to audit data reporting and cross-checking in the compilation of GFS.

Complete and update terms and conditions of GFS compilation and make them public.

Provide advance notice to the public about all changes in the methodology and others that affect the GFS.

Improve data reporting to STA for publication in the GFS Yearbook using the GFSM 2001 framework.

Prepare a migration plan to the GFSM 2001 analytical framework.

Prepare a comprehensive data set of GFS, including local government and all government operations.

Create, legal and technical mechanisms, to include all short-term domestic and external public debt operations (e.g., accounts payable of ANDE and PETROPAR).

Include in the ISFMED all liabilities of the ANDE with Argentina and Brazil to capitalize the binational enterprises Itaipú and Yacyretá.

Compile and disseminate data for central government as defined by the international best practices.

Compile GFS for central administration excluding operations of the Postal Service Directorate (PSD). The PSD should be sectorized as a nonfinancial public corporation.

Compile GFS for nonfinancial public sector excluding operations of four employer social insurance schemes. These social insurance schemes should be treated as financial corporations.

Classification all the transactions of central administration following international standards, especially those related to external debt and financing. In other words, make the necessary changes in recording the operations of public institutions in the balance sheet, budget execution statements, and GFS, to meet international standards for recording external financing operations and non-guaranteed direct debt, for which disbursements and/or service has been transferred to another entity under an internal arrangement.

Revise financing and debt classifications aligning them to the international recommendations. External debt and financing categories should be compiled by financial instrument and maturity, and internal debt and financing should be compiled by debt holder.

Prepare a bridge table between financial information in the chart of account and balance classification as recommended in the GFSM 2001.

Prepare complete GFS datasets on accrual and cash basis.

Value debt securities with coupons and with zero coupons at their present value in the AS and the ISFMED.

Apply penalties in accordance with Law No.1535 to ensure data provision.

Continue expanding the coverage of units which report data on line to the AS.

Include data for local governments in the AS.

Include all nonfinancial public sector data in the AS, especially data of ESSAP and COPACO.

Monitor response errors and misreported data through a follow up of the report processing for a sample of central government units.

Establish the main shortcomings in the report processing.

Train fiscal data compilers on how to report financial data (budgetary execution and balance) in a more accurate manner using the information obtained in from the previous actions.

Create a working group to assess and establish differences between data recording in the AS and the ISFMED.

Investigate statistical discrepancies between deficit/surplus and financing, and between financing and changes in debt stocks.

Prepare studies and analyses of data revisions.

Compile GFS for central government following the recommendations of the GDDS.

Compile GFS for general government following the recommendations of the GDDS.

Working groups (those recommended in 0.1 and 3.4 above) will promote internal consistency of GFS and their consistency with other datasets.

Document and formalize data revision processes.

Prepare and disseminate advance release calendars.

Update metadata and include it in the MOF set of publications.

Assign staff to the Monetary and Financial Studies Department (MFSD) to assist with data entry and processing, to improve the productivity of the professional staff.

Implement the data integration project that will allow electronic transmission of data between CBP’s departments and between the CBP and outside sources.

Introduce electronic data transmission from the Bank Superintendence (BS) and the Accounting Department (AD) to the Monetary Studies Division (MSD).

Establish a system of regular consultation on data users’ views on the relevance and practical utility of monetary data.

Introduce regular procedures for revisions of the monetary data.

Announce in advance any major changes in the compilation of monetary statistics (e.g., the expansion of the coverage to include deposit-taking cooperatives).

In coordination with the INCOOP, expand the coverage of the ODC survey with the inclusion of deposit-taking cooperatives. In a first stage, estimate the accounts of the sector based on a sample of monthly data from the 20 largest credit unions and the 20 largest production cooperatives (which also receive deposits).

Obtain data for the entire cooperative sector on a quarterly basis, which could be used to verify the estimated monthly data.

Include the accounts of banks in liquidation in the ODC survey, but show their position separately in the analytical accounts.

Reclassify the national component of the binational entities Itaipú and Yacyretá from nonresident units to public nonfinancial corporations.

Split the accounts of “Other resident sectors” into “Other nonfinancial corporations”, “Households,” and “Nonprofit institutions serving households” (NPISHs).

Sectorize accrued interest of ODCs and report it together with the underlying instruments.

Reclassify “Provisions for loan losses” from “Capital accounts” to “Other accounts payable.”

Transmit—in an electronic format—monthly data for individual commercial banks and finance companies, from the BS to the MSD. This would allow the MSD to verify the quality of the source data of individual institutions.

Introduce systematic validation procedures for monetary data: (i) ODCs position with the CBP against CBP’s accounting records, (ii) interbank position at the level of the individual institution, (iii) ODCs reporting of government securities holdings against CBP’s debt registry, (iv) banking sector records on credit to government and government deposits against fiscal data, and (v) monetary data on international reserves and foreign assets against data from external sector (already performed).

Keep systematic records of detected problems in monetary data to help improve the statistical process.

Speed the dissemination of monetary data through the posting of the monetary tables of Informe Económico— in an Excel format—on the CBP website as soon as they become available, without waiting for the publication of the Informe Económico.

Reconcile monetary statistics with fiscal data.

Publish studies and analyses of revisions.

Update on a regular monthly basis the time series posted in an Excel format on the CBP website.

Introduce and make public an advance release calendar for monetary statistics.

Provide detailed contact information for users of monetary statistics.

Include in quarterly questionnaires for compiling balance of payments (BOP) and international investment position (IIP) data references to the CBP Law 489 (CBP’s responsibility for collecting and disseminating BOP data, confidentiality of reported data, and legal mandate for statistical reporting).

Assign to the Balance of Payments Division additional staff with appropriate training in statistics, accounting, and finance, and a predisposition for survey work.

Upgrade computer equipment and software.

Secure funds for supporting developmental work (surveys on travel services and conduct/update specialized studies).

Conduct a structure/periodic process of consultation on data users’ views on the relevance and practical utility of BOP/IIP data (preferably through users’ surveys).

Prepare weekly/monthly reports to inform management of the quality of surveys’ data (surveys’ response rate, coverage, response errors, etc.).

Review the recommendation and practical implication in the external sector (BOP, IIP, and external debt) and national accounts of splitting multiterritory enterprises (single enterprises—such as hydroelectric schemes on border rivers—with large operations in two or more territories but with unidentifiable branches) into separate units prorated on the basis of equity shares and other factors (recommendation made by the BOP Technical Expert Group working on the BPM5 update, which emphasized the need for collaboration between compilers of the territories concerned).

Design and conduct sample surveys (based on a comprehensive business register) to capture data for items currently excluded from BOP statistics (some services, direct and portfolio investment abroad, real estate, and other private sector transactions).

In line with BPM5, reclassify goods for processing (“maquila”) and nonmonetary gold as separate goods categories, instead of aggregating them under merchandise.

Review data availability and analyze customs’ recording practice of goods for processing for adequate classification and valuation of associated transactions in the current and financial account of the balance of payments.

Review data compilation procedures to improve the maturity split (short vs. long term) of external assets and liabilities of the nonfinancial private sector.

Compile interest on public sector external debt on an accrual basis rather than on a due-for-payment basis, including adequate counter-entries in the financial account.

Compile interest on official reserves assets on an accrual basis, including adequate counter-entries in the financial account.

Compile communication services on a gross basis (credit and debit) rather than on a net basis.

Subscribe a formal agreement with Customs to facilitate the CBP’s access to data on freight by carriers’ residence and other related information included in SOFIA (fiscal database on customs tariffs).

Prepare a comprehensive and up-to-date business register as the basis for sample surveys of business units.

Conduct surveys on services (passenger transportation, computer and information services, government services), grants and other current and capital transfers, and private sector financial transactions (based on the business register), for which data are currently based on estimation techniques rather than source data.

Survey questionnaires should follow sound design principles, for which relevant CBP staff would need special training. Seek advice from specialists in sampling techniques and other issues related to the different stages of the survey process.

Conduct a new travel survey (the latest was conducted in 2000) in order to obtain information on expenditures of incoming and outgoing travelers for BOP and national accounts statistics.

Coordinate with MOF the inclusion in DMFAS of medium- and long-term external debt liabilities (transactions and stocks) of ANDE with banks (arising from the financing of its capital share in the binational hydroelectrical enterprises). Currently, these data are included in the BOP, IIP, and external debt statistics compiled by the CBP.

Coordinate with the MOF the inclusion in DMFAS of short-term debt liabilities of the nonfinancial public sector enterprises (e.g., accounts of ANDE and PETROPAR payable to their suppliers of energy and petroleum products, respectively). Currently, these data are included in the BOP, IIP, and external debt statistics compiled by the CBP.

Identify and employ more rigorous follow-up procedures (including closer contact with respondents) to ensure the timely receipt of respondents’ data.

Employ better statistical techniques to adjust data for missing observations.

Review and update, to the extent possible, the statistical techniques to estimate unrecorded trade (smuggling and shuttle trade), for example, by including the results of the ongoing household survey. Seek advice from experts with broad international experience in the calculation of unrecorded trade.

Assess the current methodology of estimating workers’ remittances based on the initial results of data collected from direct reporting of money carriers and other private sector financial intermediaries. Improve the reporters’ response and explore additional data sources for workers’ remittances.

Assess regularly the behavior of travel series and passenger transportation data series.

Monitor closely the developments in the errors and omissions item.

Reconcile on a regular basis the bilateral data with the data of partner countries and international agencies (e.g. BIS, IMF, and OECD).

Document analysis of revisions of balance of payments data and use these results to inform the statistical process.

Initiate the compilation and dissemination of the public and publicly guaranteed external debt service schedule, as recommended by the GDDS.

Initiate the compilation and dissemination of the SDDS prescribed external debt data category.

Assess the viability of accepting the World Bank’s invitation to participate in its quarterly external debt statistics (QEDS) database.

Continue with the preparatory work for the compilation of the reserves template.

Report quarterly balance of payments and IIP data to STA for publication in IMF documents within six months after the end of the reference period.

Improve gradually the timeliness of BOP/IIP data (moving from 6-7 months to three months after the reference quarter).

Initiate a process of quarterly reconciliations of flows and stocks of medium- and long-term external public debt with the MOF. Currently, the methodology for the compilation of the MOF’s public sector external debt data (scope, classification, and recording basis) is not in line with BPM5

Disseminate on the CBP website the results of applying the “Table of outstanding balances by debtor/payer” designed by the 2001 multisector mission (and included in the mission’s report, Appendix V, Annex 3). These table will facilitate data reconciliation by users.

Disseminate policies and practices governing the revisions of BOP and IIP data.

Review and modify, as necessary, the current revision policy and practice to reduce the frequency of revisions. Currently, new quarterly data release are subject to revisions during seven consecutive quarters.

Formal studies and analysis of revisions should be conducted and disseminated to the public.

Disseminate additional summary tables, charts, and commentaries to facilitate users’ analysis.

Disseminate electronic tables and longer time series in addition to “pdf” formats.

Disseminate a preannounced schedule with the dates the statistics are to be released, and release statistics according to the preannounced schedule.