Abstract
This paper discusses a Request from Congo for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) program. Growth in Congo in 2008 was strong, but weakened by the onset of the global financial crisis during the second half of the year that resulted in a deterioration of the country’s terms of trade and large job losses in the mining sector. Macroeconomic policies for the rest of 2009 and 2010 aim at reducing inflation while mitigating the impact of the global financial sector on the economy.
Democratic Republic of the Congo Relations with the Fund
(As of October 31, 2009)
I. Membership Status: Joined September 28, 1963; Article VIII
II. General Resources Account:
| SDR Million | Percent of Quota | |
| Quota | 533.00 | 100.00 |
| Fund holdings of currency | 533.00 | 100.00 |
| SDR Million | Percent of Quota | |
| Quota | 533.00 | 100.00 |
| Fund holdings of currency | 533.00 | 100.00 |
III. SDR Department:
| SDR Million | Percent of Quota | |
| Net cumulative allocation | 510.86 | 100.0 |
| Holdings | 419.46 | 82.11 |
| SDR Million | Percent of Quota | |
| Net cumulative allocation | 510.86 | 100.0 |
| Holdings | 419.46 | 82.11 |
IV. Outstanding Purchases and Loans:
| SDR Million | Percent of Quota | |
| ESF RAC loan | 133.25 | 25.00 |
| Poverty Reduction and Growth Facility (PRGF) Arrangement | 369.46 | 69.32 |
| SDR Million | Percent of Quota | |
| ESF RAC loan | 133.25 | 25.00 |
| Poverty Reduction and Growth Facility (PRGF) Arrangement | 369.46 | 69.32 |
V. Latest Financial Arrangements:
| Type | Approval Date | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
|---|---|---|---|---|
| PRGF | June 12, 2002 | March 31,2006 | 580.00 | 553.47 |
| Stand-By | June 9, 1989 | June 8, 1990 | 116.40 | 75.00 |
| SAF | May 15, 1987 | May 14, 1990 | 203.70 | 145.50 |
| Type | Approval Date | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
|---|---|---|---|---|
| PRGF | June 12, 2002 | March 31,2006 | 580.00 | 553.47 |
| Stand-By | June 9, 1989 | June 8, 1990 | 116.40 | 75.00 |
| SAF | May 15, 1987 | May 14, 1990 | 203.70 | 145.50 |
VI. Projected Payments to Fund:
(SDR million; based on current use of resources and present holdings of SDRs):
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2009 | 2010 | 2011 | 2012 | 2013 | |
| Principle | 42.00 | 105.35 | 110.69 | 68.69 | 24.03 |
| Charges/interest | 1.32 | 2.39 | 1.85 | 1.31 | 1.09 |
| Total | 43.32 | 107.75 | 112.55 | 70.01 | 25.12 |
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2009 | 2010 | 2011 | 2012 | 2013 | |
| Principle | 42.00 | 105.35 | 110.69 | 68.69 | 24.03 |
| Charges/interest | 1.32 | 2.39 | 1.85 | 1.31 | 1.09 |
| Total | 43.32 | 107.75 | 112.55 | 70.01 | 25.12 |
VII. Implementation of HIPC Initiative:
| I. Commitment of HIPC assistance | Enhanced Framework | ||||
| Decision point date | July 2003 | ||||
| Assistance committed by all creditors (US$ millions) | 6,311.00 | ||||
| of which: IMF assistance (US$ millions) | 318.90 | ||||
| (SDR equivalent millions) | 228.30 | ||||
| Completion point date | Floating | ||||
| II. Disbursement of IMF assistance (SDR millions) | |||||
| Assistance disbursed to the member | 3.39 | ||||
| Interim assistance | 3.39 | ||||
| Completion point balance | -- | ||||
| Additional disbursement of interest income | -- | ||||
| Total disbursement | 3.39 | ||||
| I. Commitment of HIPC assistance | Enhanced Framework | ||||
| Decision point date | July 2003 | ||||
| Assistance committed by all creditors (US$ millions) | 6,311.00 | ||||
| of which: IMF assistance (US$ millions) | 318.90 | ||||
| (SDR equivalent millions) | 228.30 | ||||
| Completion point date | Floating | ||||
| II. Disbursement of IMF assistance (SDR millions) | |||||
| Assistance disbursed to the member | 3.39 | ||||
| Interim assistance | 3.39 | ||||
| Completion point balance | -- | ||||
| Additional disbursement of interest income | -- | ||||
| Total disbursement | 3.39 | ||||
VIII. Implementation of MDRI Assistance: Not applicable
IX. Exchange Rate Arrangement:
The currency of the Democratic Republic of the Congo is the Congo franc which, since May 26, 2001, has been freely floating. On November 25, 2009, the rate was US$1=CF 905.
Effective February 10, 2003, the DRC accepted the obligations of Article VIII, Sections 2 (a), 3, and 4, of the Fund’s Articles of Agreement; however, the DRC maintains measures that give rise to one restrictions and one multiple currency practice subject to Fund approval. The exchange restrictions involves an outstanding net debt position against other contracting members under the inoperative regional payments agreement with the Economic Community of the Great Lakes Countries. The multiple currency practice relates to a fixed exchange rate set quarterly applying to transactions through the bilateral payments agreement with Zimbabwe.
X. Last Article IV Consultation:
(a) Consultations with the Democratic Republic of the Congo are held in accordance with the provisions of the decision on consultation cycles approved on July 15, 2002.
(b) The last Article IV consultation was concluded by the Executive Board on September 5, 2007.
XI. Safeguards Assessment:
A safeguards assessment of the central bank (BCC) was completed on December 24, 2002, and updated in January 2008. Both initial and updated assessments concluded that there may be substantial risks of misreporting or misuse due to vulnerabilities in the external audit mechanism, financial reporting, and system of internal controls. Staff findings, recommendations related to program conditionality, and other recommendations may be found in IMF Country Report No. 03/161 and IMF Country Report No. 07/328. In the context of the proposed PRGF, an update safeguards assessment of the Banque Centrale du Congo (BCC) is currently in progress.
X. Technical Assistance:
STA
FY 2004 – Multisector statistics
FY 2010 – Monetary statistics
MCM
Capacity building assistance to the central bank
Strengthening capacity in Anti-Money Laundering/Combating Financial Terrorism (AML/CFT)
FY 2005 – One short visit
FY 2006 – Two short visits
Strengthening capacity in monetary policy implementation, exchange operations, and liquidity management
FY 2005 – Three short visits
FY 2006 – Two short visits
FY 2007 – Seven short visits
FY 2008 – Three short visits
FY 2009 – One short visit
Restructuring and reorganization of the central bank
FY 2009 – One short visit
FY 2010–One short visit
Strengthening capacity in banking supervision and financial sector development
FY 2005 – One short visit on bank supervision and regulation
FY 2008 – Two short visits on bank supervision and regulation
FY 2010 – Three short visits on bank supervision and regulation
FY 2006 – One short visit on internal audit
FY 2008 – One short visit on internal audit
FY 2007 – Action plan for developing the financial system
FY 2008 – One short visit on TA assessment
FAD
Public financial management
FY 2007 – Short visit
FY 2009 – Short visit
Revenue administration
FY 2004 – Two short visits
FY 2005 – One short visit
FY 2006 – One short visit
FY 2007 – Short visit
FY 2007 – short visit
FY 2009 – short visit
Fiscal decentralization
FY 2005 – Short visit
XIII. Long-term Resident Experts:
| Expenditure management | Mr. Catalan | Jan. 2002–Jun. 2004 |
| Mr. Nguenang | Since Sept. 2004 | |
| Customs administration | Mr. Bremeersch | Jan. 2002–Jan. 2004 |
| Tax administration | Mr. Fossat | Sept 2005 |
| Advisor to Governor of BCC | Mr. Nyssens | Jan. 2004–Jan. 2005 |
| Mr. d’Ambrieres | Since Feb. 25, 2006 | |
| Capacity building of BCC | Mr. Pauwels | Since Sept. 2004 |
| Statistics | Mr. Métreau | Oct. 2004 |
| Mr. Gbossa | Dec. 2005–08 |
| Expenditure management | Mr. Catalan | Jan. 2002–Jun. 2004 |
| Mr. Nguenang | Since Sept. 2004 | |
| Customs administration | Mr. Bremeersch | Jan. 2002–Jan. 2004 |
| Tax administration | Mr. Fossat | Sept 2005 |
| Advisor to Governor of BCC | Mr. Nyssens | Jan. 2004–Jan. 2005 |
| Mr. d’Ambrieres | Since Feb. 25, 2006 | |
| Capacity building of BCC | Mr. Pauwels | Since Sept. 2004 |
| Statistics | Mr. Métreau | Oct. 2004 |
| Mr. Gbossa | Dec. 2005–08 |
XIV. Resident Representative: Mr. Jahjah assumed his duties as Resident Representative in January 2009.
Democratic Republic of the Congo: Relations with the World Bank Group Joint Managerial Action Plan (JMAP)
(As of October 31, 2009)
1. The IMF and World Bank Democratic Republic of Congo teams discussed a joint managerial action plan under this initiative.
2. The World Bank’s work program entails moving forward in FY10 with a Development Policy Operation (DPO) to provide US$100 million in budget support, a Diagnostic Trade Integration Study (DTIS) and a Country Economic Memorandum (CEM) that will focus on constraints to growth.
3. The IMF’s work program entails a new PRGF arrangement.
4. The staffs are working together to deliver (a) a JSAN of the implementation of the existing PRSP and (b) the HIPC completion point document.
5. Both institutions are supporting an FSAP that will take place during FY11.
| Title | Products | Provisional timing of missions | Actual or Expected delivery date |
|---|---|---|---|
| A. Mutual information on relevant work program | |||
| World Bank work program in the next 12 months | Extension of Interim HIPC debt relief | None | October 2009 |
| Development Policy Operation that may provide | September 2009–November 2009 | March 2010 | |
| US$100 million in budget support | February 2010 | ||
| Diagnostic Trade Integration Study | October 2009 | March 2010 | |
| Country Economic | October 2009 | September 2010 | |
| Memorandum | July 2009 | ||
| IMF work program in the next | Article IV and PRGF program | – | December 2009 |
| 12 months | First review of PRGF | February/March 2010 | June 2010 |
| B. Requests for work program inputs | |||
| Fund request to Bank | Provide comments on implications of sector-specific issues, including developments in the mining, energy, telecom and agricultural sectors. | None | FY 10 |
| Bank request to Fund | Macroeconomic scenarios for HIPC Interim Debt Relief, DPO, DTIS and CEM | None | FY 10 |
| C. Agreement on joint products and missions | |||
| Joint products in the next 12 months | JSAN of PRSP progress report | February/March 2010 | June 2010 |
| HIPC/MDRI completion point document | March 2010 | June 2010 | |
| Public Finance Management (PFM) technical assistance | FY10–11 | FY10–11 | |
| Banking sector supervision technical assistance | FY10–11 | FY10–11 | |
| Title | Products | Provisional timing of missions | Actual or Expected delivery date |
|---|---|---|---|
| A. Mutual information on relevant work program | |||
| World Bank work program in the next 12 months | Extension of Interim HIPC debt relief | None | October 2009 |
| Development Policy Operation that may provide | September 2009–November 2009 | March 2010 | |
| US$100 million in budget support | February 2010 | ||
| Diagnostic Trade Integration Study | October 2009 | March 2010 | |
| Country Economic | October 2009 | September 2010 | |
| Memorandum | July 2009 | ||
| IMF work program in the next | Article IV and PRGF program | – | December 2009 |
| 12 months | First review of PRGF | February/March 2010 | June 2010 |
| B. Requests for work program inputs | |||
| Fund request to Bank | Provide comments on implications of sector-specific issues, including developments in the mining, energy, telecom and agricultural sectors. | None | FY 10 |
| Bank request to Fund | Macroeconomic scenarios for HIPC Interim Debt Relief, DPO, DTIS and CEM | None | FY 10 |
| C. Agreement on joint products and missions | |||
| Joint products in the next 12 months | JSAN of PRSP progress report | February/March 2010 | June 2010 |
| HIPC/MDRI completion point document | March 2010 | June 2010 | |
| Public Finance Management (PFM) technical assistance | FY10–11 | FY10–11 | |
| Banking sector supervision technical assistance | FY10–11 | FY10–11 | |
Democratic Republic of the Congo: Statistical Issues Appendix
(As of October 31, 2009)
| I. Assessment of Data Adequacy for Surveillance |
| General: Data provision to the Fund is broadly adequate for surveillance and program monitoring purposes, but upgrades to the national accounts, balance of payments, and government finance statistics would be helpful. In spite of difficulties, the authorities have continued to produce an array of economic and financial statistics, most of which are published in the annual report of the Central Bank of the Congo (BCC) or its monthly statistical bulletin. |
| National accounts: Annual national accounts are compiled in constant and current prices by the Directorate of Research of the BCC and published yearly. The compilation methodology conforms to the System of National Accounts 1968 (1968 SNA) and is based on the balance sheets of enterprises and surveys of public and semipublic enterprises and agencies, most of which date from the late 1980s. The activities of the traditional sector (including the informal sector) are estimated with extrapolation techniques using industry-specific data that are outdated. As a result, GDP is likely to be underestimated. With assistance from AFRITAC, work on the national accounts is underway to update the base year to 2005, incorporate the results of a recent 1-2–3 household survey, as well as implement the methodological recommendations of the 1993 SNA. While outputs of this work remain to be validated and officially published, as expected, the 2005 GDP estimates show a considerable upward revision compared to previously published estimates. |
| Price statistics: Consumer price indices are calculated for Kinshasa by the BCC, the National Statistics Institute (INS), the Institute of Economic and Social Research (IESR), and the Economics Section of the U.S. Embassy in Kinshasa. The IESR also calculates a monthly consumer price index for the Lubumbashi market. The household surveys on which these calculations are based date back to the late 1980s; they need to be updated to account for changes in household consumption patterns and demographic shifts, while geographical coverage should be expanded. |
| Government finance statistics: The BCC produces aggregated monthly statistics on a cash basis based on its own accounting for the government cash operations. The treasury produces two sets of monthly statistics based on its own records: one relates to the transactions executed through the BCC, the other set attempts to consolidate operations through commercial bank accounts and off-budget operations. These statistics do not rely on an integrated double-entry public accounting system and do not provide sufficient details about the nature of expenditures owing to problems in the expenditure chain. However, the treasury has started to produce quarterly expenditure data reports by ministry and institution. The current work on tax administration and expenditure control is expected to improve the quality and timeliness of fiscal statistics. In parallel with technical assistance on public expenditure management, a STA multisector statistics advisor has been advising on government finance statistics, producing improvements in the quality of the statistics. Furthermore, adoption of a simplified double-entry bookkeeping system should significantly improve the availability of data on government financial operations. In 2003 the DRC reported annual data up to 2002 for the IMF’s Government Finance Statistics Yearbook in the format of the Government Finance Statistics Manual 2001, but has not reported subsequently. |
| Monetary statistics: The BCC Directorate of Research regularly produces timely monetary statistics. These statistics are now generally reliable, but some problems remain with the classification of accounts. Since STA money and banking statistics mission of June 2000, BCC reporting of data for publication in the IMF’s International Financial Statistics (IFS) has improved and monetary data are currently reported on time. A 2003 multisector statistics mission recommended a new chart of accounts for the BCC and other deposit-taking institutions, including the information needed for improved sectorization of economic units and classification of financial assets. |
| Balance of payments: Annual balance of payments statistics are compiled with information on the exports and imports of large public and semipublic enterprises, BCC payment records, and a survey of the foreign operations of residents. The estimates also take account of information on the informal sector and foreign aid flows provided by the World Bank and the local UN Development Program (UNDP) office, which collects the data from the European Union, embassies, and nongovernmental organizations. However, the 2003 multisector mission found that, due to computer problems, data have not been processed since 1999, so in effect balance of payments statistics are compiled using data from different sources, supplemented by estimates. The mission suggested that the BCC implement a system of quarterly surveys of corporations that are authorized to hold accounts overseas. The mission also recommended reinvigoration of a working group comprising staff of the customs and other agencies to prepare quarterly foreign trade data and take measures to improve data on services and transfers. No external sector data are reported to STA for publication. |
| II. Data Standards and Quality |
| Since April 24, 2004, the Democratic Republic of the Congo participates in the general Data Dissemination System (GDDS). The metadata needs to be updated. |
| I. Assessment of Data Adequacy for Surveillance |
| General: Data provision to the Fund is broadly adequate for surveillance and program monitoring purposes, but upgrades to the national accounts, balance of payments, and government finance statistics would be helpful. In spite of difficulties, the authorities have continued to produce an array of economic and financial statistics, most of which are published in the annual report of the Central Bank of the Congo (BCC) or its monthly statistical bulletin. |
| National accounts: Annual national accounts are compiled in constant and current prices by the Directorate of Research of the BCC and published yearly. The compilation methodology conforms to the System of National Accounts 1968 (1968 SNA) and is based on the balance sheets of enterprises and surveys of public and semipublic enterprises and agencies, most of which date from the late 1980s. The activities of the traditional sector (including the informal sector) are estimated with extrapolation techniques using industry-specific data that are outdated. As a result, GDP is likely to be underestimated. With assistance from AFRITAC, work on the national accounts is underway to update the base year to 2005, incorporate the results of a recent 1-2–3 household survey, as well as implement the methodological recommendations of the 1993 SNA. While outputs of this work remain to be validated and officially published, as expected, the 2005 GDP estimates show a considerable upward revision compared to previously published estimates. |
| Price statistics: Consumer price indices are calculated for Kinshasa by the BCC, the National Statistics Institute (INS), the Institute of Economic and Social Research (IESR), and the Economics Section of the U.S. Embassy in Kinshasa. The IESR also calculates a monthly consumer price index for the Lubumbashi market. The household surveys on which these calculations are based date back to the late 1980s; they need to be updated to account for changes in household consumption patterns and demographic shifts, while geographical coverage should be expanded. |
| Government finance statistics: The BCC produces aggregated monthly statistics on a cash basis based on its own accounting for the government cash operations. The treasury produces two sets of monthly statistics based on its own records: one relates to the transactions executed through the BCC, the other set attempts to consolidate operations through commercial bank accounts and off-budget operations. These statistics do not rely on an integrated double-entry public accounting system and do not provide sufficient details about the nature of expenditures owing to problems in the expenditure chain. However, the treasury has started to produce quarterly expenditure data reports by ministry and institution. The current work on tax administration and expenditure control is expected to improve the quality and timeliness of fiscal statistics. In parallel with technical assistance on public expenditure management, a STA multisector statistics advisor has been advising on government finance statistics, producing improvements in the quality of the statistics. Furthermore, adoption of a simplified double-entry bookkeeping system should significantly improve the availability of data on government financial operations. In 2003 the DRC reported annual data up to 2002 for the IMF’s Government Finance Statistics Yearbook in the format of the Government Finance Statistics Manual 2001, but has not reported subsequently. |
| Monetary statistics: The BCC Directorate of Research regularly produces timely monetary statistics. These statistics are now generally reliable, but some problems remain with the classification of accounts. Since STA money and banking statistics mission of June 2000, BCC reporting of data for publication in the IMF’s International Financial Statistics (IFS) has improved and monetary data are currently reported on time. A 2003 multisector statistics mission recommended a new chart of accounts for the BCC and other deposit-taking institutions, including the information needed for improved sectorization of economic units and classification of financial assets. |
| Balance of payments: Annual balance of payments statistics are compiled with information on the exports and imports of large public and semipublic enterprises, BCC payment records, and a survey of the foreign operations of residents. The estimates also take account of information on the informal sector and foreign aid flows provided by the World Bank and the local UN Development Program (UNDP) office, which collects the data from the European Union, embassies, and nongovernmental organizations. However, the 2003 multisector mission found that, due to computer problems, data have not been processed since 1999, so in effect balance of payments statistics are compiled using data from different sources, supplemented by estimates. The mission suggested that the BCC implement a system of quarterly surveys of corporations that are authorized to hold accounts overseas. The mission also recommended reinvigoration of a working group comprising staff of the customs and other agencies to prepare quarterly foreign trade data and take measures to improve data on services and transfers. No external sector data are reported to STA for publication. |
| II. Data Standards and Quality |
| Since April 24, 2004, the Democratic Republic of the Congo participates in the general Data Dissemination System (GDDS). The metadata needs to be updated. |
The Democratic Republic of the Congo: Table of Common Indicators Required for Surveillance
(As of November 25, 2009)
Any reserves 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 national values of financial derivatives to pay and receive foreign currency, including those linked to a foreign curreny but settled by other means.
Both market-based and officially-determined, including discount rates, money markets rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
Including currency and maturity composition.
Includes external gross financial asset and libility positions vis-à-vis nonresidents.
Daily(D), Weekly (W), Monthly (M), Quarterly (Q), Irregular (I), Not available (NA).
The Democratic Republic of the Congo: Table of Common Indicators Required for Surveillance
(As of November 25, 2009)
| Date of latest observation | Date received | Frequency of Data 6 | Frequency of Reporting 6 | Frequency of Publication 6 | |
|---|---|---|---|---|---|
| Exchange Rates | 25-Nov-09 | 25-Nov-09 | D | W | D |
| International Reserve Assets and Reserves | Sep-09 | Oct-09 | M | M | M |
| Liabilities of the Monetary Authorities1 | Sep-09 | Oct-09 | M | M | M |
| Reserve/Base money | Sep-09 | Oct-09 | M | M | M |
| Broad money | Sep-09 | Oct-09 | M | M | M |
| Central Bank Balance Sheet | Sep-09 | Oct-09 | M | M | M |
| Consolidated Balance Sheet of the Banking System | Sep-09 | Oct-09 | M | M | M |
| Interest Rates 2 | Sep-09 | Oct-09 | M | M | M |
| Consumer Price Index | 8-Nov-09 | 9-Nov-09 | W | W | W |
| Central Government revenue, expenditure, and financing 3 | Jun-09 | Oct-09 | M | M | M |
| Stock of Central Government and Central Government-Guaranteed Debt 4 | Dec-08 | Aug-09 | A | A | I |
| External Current Account Balance | Dec-08 | Jun-09 | A | A | I |
| Exports and Imports of Goods and Services | Dec-08 | Jun-09 | A | A | I |
| GDP/GNP | Dec-08 | Jun-09 | A | A | I |
| Gross External Debt | Dec-08 | Jun-09 | A | A | I |
| International Investment Position 5 | NA | NA | NA | NA | NA |
Any reserves 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 national values of financial derivatives to pay and receive foreign currency, including those linked to a foreign curreny but settled by other means.
Both market-based and officially-determined, including discount rates, money markets rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
Including currency and maturity composition.
Includes external gross financial asset and libility positions vis-à-vis nonresidents.
Daily(D), Weekly (W), Monthly (M), Quarterly (Q), Irregular (I), Not available (NA).
The Democratic Republic of the Congo: Table of Common Indicators Required for Surveillance
(As of November 25, 2009)
| Date of latest observation | Date received | Frequency of Data 6 | Frequency of Reporting 6 | Frequency of Publication 6 | |
|---|---|---|---|---|---|
| Exchange Rates | 25-Nov-09 | 25-Nov-09 | D | W | D |
| International Reserve Assets and Reserves | Sep-09 | Oct-09 | M | M | M |
| Liabilities of the Monetary Authorities1 | Sep-09 | Oct-09 | M | M | M |
| Reserve/Base money | Sep-09 | Oct-09 | M | M | M |
| Broad money | Sep-09 | Oct-09 | M | M | M |
| Central Bank Balance Sheet | Sep-09 | Oct-09 | M | M | M |
| Consolidated Balance Sheet of the Banking System | Sep-09 | Oct-09 | M | M | M |
| Interest Rates 2 | Sep-09 | Oct-09 | M | M | M |
| Consumer Price Index | 8-Nov-09 | 9-Nov-09 | W | W | W |
| Central Government revenue, expenditure, and financing 3 | Jun-09 | Oct-09 | M | M | M |
| Stock of Central Government and Central Government-Guaranteed Debt 4 | Dec-08 | Aug-09 | A | A | I |
| External Current Account Balance | Dec-08 | Jun-09 | A | A | I |
| Exports and Imports of Goods and Services | Dec-08 | Jun-09 | A | A | I |
| GDP/GNP | Dec-08 | Jun-09 | A | A | I |
| Gross External Debt | Dec-08 | Jun-09 | A | A | I |
| International Investment Position 5 | NA | NA | NA | NA | NA |
Any reserves 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 national values of financial derivatives to pay and receive foreign currency, including those linked to a foreign curreny but settled by other means.
Both market-based and officially-determined, including discount rates, money markets rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
Including currency and maturity composition.
Includes external gross financial asset and libility positions vis-à-vis nonresidents.
Daily(D), Weekly (W), Monthly (M), Quarterly (Q), Irregular (I), Not available (NA).