Abstract
TRINIDAD AND TOBAGO
Title Page
TRINIDAD AND TOBAGO
STAFF REPORT FOR THE 2021 ARTICLE IV CONSULTATION—INFORMATIONAL ANNEX
January21, 2022
Prepared By
The Western Hemisphere Department
Contents
FUND RELATIONS
RELATIONS WITH DEVELOPMENT BANK OF LATIN AMERICA (CAF)
RELATIONS WITH OTHER FINANCIAL INSITUTIONS
STATISTICAL ISSUES
Fund Relations
(As of December 31, 2021)
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
| Membership Status: Joined: September 16, 1963; | Article VIII | |
|---|---|---|
| I. General Resources Account: | SDR Million | %Quota |
| Quota | 469.80 | 100.00 |
| IMF’s Holdings of Currency (Holdings Rate) | 345.58 | 73.56 |
| Reserve Tranche Position | 124.22 | 26.44 |
| II. SDR Department | SDR Million | % Allocation |
| Net cumulative allocation | 771.42 | 100.00 |
| Holdings | 771.43 | 100.00 |
| III. Outstanding Purchases and Loans: None | ||
| IV. Latest Financial Commitments: | ||||
| Arrangements: | ||||
| Type | Date of Arrangement | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
| Stand-By | Apr 20, 1990 | Mar 31, 1991 | 85.00 | 85.00 |
| Stand-By | Jan 13, 1989 | Feb28, 1990 | 99.00 | 99.00 |
| V. Overdue Obligations and Projected Payments to Fund1/ (SDR Million; based on existing use of resources and present holdings of SDRs): | |||||
| Forthcoming | |||||
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Principal | |||||
| Charges/Interest | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Total | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
| Membership Status: Joined: September 16, 1963; | Article VIII | |
|---|---|---|
| I. General Resources Account: | SDR Million | %Quota |
| Quota | 469.80 | 100.00 |
| IMF’s Holdings of Currency (Holdings Rate) | 345.58 | 73.56 |
| Reserve Tranche Position | 124.22 | 26.44 |
| II. SDR Department | SDR Million | % Allocation |
| Net cumulative allocation | 771.42 | 100.00 |
| Holdings | 771.43 | 100.00 |
| III. Outstanding Purchases and Loans: None | ||
| IV. Latest Financial Commitments: | ||||
| Arrangements: | ||||
| Type | Date of Arrangement | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
| Stand-By | Apr 20, 1990 | Mar 31, 1991 | 85.00 | 85.00 |
| Stand-By | Jan 13, 1989 | Feb28, 1990 | 99.00 | 99.00 |
| V. Overdue Obligations and Projected Payments to Fund1/ (SDR Million; based on existing use of resources and present holdings of SDRs): | |||||
| Forthcoming | |||||
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Principal | |||||
| Charges/Interest | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Total | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
Implementation of HIPC Initiative: Not applicable
Implementation of Multilateral Debt Relief Initiative: Not applicable
Implementation of Catastrophe Containment and Relief (CCR): Not applicable
Exchange Arrangements
Trinidad and Tobago has accepted the obligations of Article VIII, Sections 2, 3, and 4. Trinidad and Tobago’s dejure exchange rate arrangement is floating. Its de facto exchange rate arrangement is stabilized arrangement.
Trinidad and Tobago maintains an exchange restriction and two multiple currency practices subject to the Fund’s approval under Article VIII, Section 2(a) and Section 3. The exchange restriction arises from the authorities’ restriction of the exchange rate (i.e., by restricting the maximum market buy and sell rates, and prohibiting foreign exchange (FX) transactions beyond the maximum rates), while not providing enough FX (i.e., through the CBTT ‘s FX interventions) to meet all demand for current transactions at that rate. The CBTT also limits sales of its FX intervention funds to meeting only “trade-related” demand, which do not include non-trade transactions that are, however, current international transactions as defined under Article XXX(d) of the IMF’s Articles of Agreement and encourages authorized dealers to similarly prioritize sales of FX obtained from other sources. Further, the authorities prioritize provision of FX to certain manufacturers and importers of necessities (foods and medicines) through special FX facilities within the EximBank. These actions result in undue delays in accessing FX to make payments or transfers for current international transactions and external payment arrears.
The two multiple currency practices arise from the absence of a mechanism to prevent the potential deviation of more than two percent at any given time among several effective exchange rates regulated by the authorities, for spot exchange transactions; namely:
The potential two percent deviation between: (i) on the one hand, the CBTT’s intervention rate and the authorized dealers’ sell rates (the maximum of which is anchored on the intervention rate plus fixed margins), and (ii) on the other hand, the authorized dealers’ buy rates (the maximum of which is limited at the previous day’s mid-rate).
The potential two percent deviation between: (i) on the one hand, the buy and sell rates for FX transactions between the CBTT and the government, and (ii) on the other hand, the authorized dealers’sell rates.
Last Article IV Consultation
The 2018 Article IV Consultation was concluded by the Executive Board, on a lapse-of-time basis, on August 31, 2018, Trinidad and Tobago is on the 12-month consultation cycle (IMF Country Report No. 18/285). A staff visit took place during January 15–21, 2020.
Financial Sector Assessment Program (FSAP) Participation
The 2020 joint IMF-World Bank FSAP missions were held during November 5–19, 2019 and January 21-February4, 2020. The Financial System Stability Assessment (FSSA) was presented to the Executive Board for discussion, on a lapse-of-time basis, on August 31, 2020 (IMF Country Report No. 20/291).
| Technical Assistance | ||
|---|---|---|
| Department | Dates | Purpose |
| CARTAC | September 13–29, 2021 | Strengthening of RBS Framework for on-Site and off-Site Reviews |
| CARTAC | July 19–30,2021 | Provide Support to Treasury Function IPSAS Compliance and Reporting |
| CARTAC | June 7—July 21, 2021 | Development and Implementation of a Risk-Based Capital Adequacy Framework for TTSEC Registrants. |
| CARTAC | April26-May7, 2021 | Improving the Estimates of GDP |
| CARTAC | May 5–12, August 2 24, 2021 | Capital (Leverage Rations) |
| CARTAC | November 14–27, 2018 | Developing a Medium-Term Fiscal Framework |
| FAD | July 2019 | Revenue Administration Gap Analysis Program-the VAT GAP |
| FAD | October 7–18, 2019 | Building Effective Tax Administration Functions |
| CARTAC | July 19–20,2018 | Digital Currencies and Central Banks’Regulatory Response |
| STA | May-June 2018 | National Accounts |
| FAD | April-May 2018 | Fiscal Transparency Evaluation |
| STA | May 2018 | Price Statistics |
| CARTAC | April 2018 | Macro Fiscal Framework |
| STA | March, 2018 | External Sector Statistics |
| MCM | February 2018 | Transitioning Mutual Funds |
| MCM | October 2017 | Credit Unions Regulation |
| CARTAC | October 2017 | Central Fiscal Oversight and Analysis of Public Corporation Risks |
| FAD | September 2017 | Tax Administration Diagnostic Assessment Tool |
| STA | Monday, May 1,2017 | National Accounts Statistics |
| STA | Wednesday, March 1,2017 | Price Statistics |
| FAD | September 2016 and June 2017 | New Directions in Fiscal Regimes for Oil and Gas |
| FAD | November 2016 | Strengthening Institutional Arrangements and Core Operations |
| FAD | June 2016 | Establishing a Tax Policy Unit |
| STA | October 2016 | External Sector Statistics |
| STA | May 2016 | National Accounts Statistics |
| STA | March 2016 | External Sector Statistics |
| STA | January 2016 | National Accounts Statistics, Price Statistics |
| MCM | August 2015 | Monetary Policy Framework |
| MCM | April 2016 | Macroprudential Pol icy Framework |
| STA | March 2015 | External Sector Statistics |
| FAD | March 2015 | Revenue Administration |
| STA | May 2015 | Financial Sector Statistics/FSI Compilation |
| MCM-LEG | March 2014 | National Financial Crisis Contingency Plan |
| FAD | July 2013 | Tax Administration |
| FAD | January 2013 | Tax Policy |
| MCM | October 2012 | Non-life Insurance Regulation |
| STA | June 2012 | Monetary and Financial Statistics |
| STA | April 2012 | Consumer and Price Statistics |
| STA | March 2012 | Monetary and Balance of Payments Statistics |
| STA | February 2012 | Consumer and Producer Price Statistics |
| MCM | June 201, September2010, March 2011, and June 2011 | Insurance Supervision |
| MCM | December2010 and April 2011 | Public Debt Management, Funding and Medium-term Debt Management Strategies |
| Technical Assistance | ||
|---|---|---|
| Department | Dates | Purpose |
| CARTAC | September 13–29, 2021 | Strengthening of RBS Framework for on-Site and off-Site Reviews |
| CARTAC | July 19–30,2021 | Provide Support to Treasury Function IPSAS Compliance and Reporting |
| CARTAC | June 7—July 21, 2021 | Development and Implementation of a Risk-Based Capital Adequacy Framework for TTSEC Registrants. |
| CARTAC | April26-May7, 2021 | Improving the Estimates of GDP |
| CARTAC | May 5–12, August 2 24, 2021 | Capital (Leverage Rations) |
| CARTAC | November 14–27, 2018 | Developing a Medium-Term Fiscal Framework |
| FAD | July 2019 | Revenue Administration Gap Analysis Program-the VAT GAP |
| FAD | October 7–18, 2019 | Building Effective Tax Administration Functions |
| CARTAC | July 19–20,2018 | Digital Currencies and Central Banks’Regulatory Response |
| STA | May-June 2018 | National Accounts |
| FAD | April-May 2018 | Fiscal Transparency Evaluation |
| STA | May 2018 | Price Statistics |
| CARTAC | April 2018 | Macro Fiscal Framework |
| STA | March, 2018 | External Sector Statistics |
| MCM | February 2018 | Transitioning Mutual Funds |
| MCM | October 2017 | Credit Unions Regulation |
| CARTAC | October 2017 | Central Fiscal Oversight and Analysis of Public Corporation Risks |
| FAD | September 2017 | Tax Administration Diagnostic Assessment Tool |
| STA | Monday, May 1,2017 | National Accounts Statistics |
| STA | Wednesday, March 1,2017 | Price Statistics |
| FAD | September 2016 and June 2017 | New Directions in Fiscal Regimes for Oil and Gas |
| FAD | November 2016 | Strengthening Institutional Arrangements and Core Operations |
| FAD | June 2016 | Establishing a Tax Policy Unit |
| STA | October 2016 | External Sector Statistics |
| STA | May 2016 | National Accounts Statistics |
| STA | March 2016 | External Sector Statistics |
| STA | January 2016 | National Accounts Statistics, Price Statistics |
| MCM | August 2015 | Monetary Policy Framework |
| MCM | April 2016 | Macroprudential Pol icy Framework |
| STA | March 2015 | External Sector Statistics |
| FAD | March 2015 | Revenue Administration |
| STA | May 2015 | Financial Sector Statistics/FSI Compilation |
| MCM-LEG | March 2014 | National Financial Crisis Contingency Plan |
| FAD | July 2013 | Tax Administration |
| FAD | January 2013 | Tax Policy |
| MCM | October 2012 | Non-life Insurance Regulation |
| STA | June 2012 | Monetary and Financial Statistics |
| STA | April 2012 | Consumer and Price Statistics |
| STA | March 2012 | Monetary and Balance of Payments Statistics |
| STA | February 2012 | Consumer and Producer Price Statistics |
| MCM | June 201, September2010, March 2011, and June 2011 | Insurance Supervision |
| MCM | December2010 and April 2011 | Public Debt Management, Funding and Medium-term Debt Management Strategies |
Relations with Development Bank of Latin America (CAF)
(As of December 6, 2021)
Trinidad and Tobago’s Country Strategy covered the period 2016–20 and focuses on four pillars: (i) modernization of the state, (ii) social infrastructure, (iii) transformation of tourism and agriculture, and (iv) education. In particular, the first pillar aims at helping the authorities to reform public enterprises, including the Water and Sewerage Authority (WASA) and enhance digitalization of payments of taxes, the inland revenues and customs, and other aspects of digitalization of services to citizens. The second pillar focuses on improving the country’s infrastructure, including road, air and seaports developments. Under the third pillar, CAF will also provide technical assistance to support the authorities’ efforts to develop a masterplanfor the tourism and agriculture sectors. Finally, increasing the availability of technical and vocational education, improving online education, and enhancing school’s Spanish curriculum are part of the efforts being made within the realm of the education pillar. Under the 2016–20 Strategy, a portfolio of US$1,049 million has been approved, with the latest disbursements amounting to US$301 million in 2020.
Relations with Other Financial Insitutions
A. The World Bank Group
B. Inter-American Development Bank (IDB)
https://www.iadb.org/en/countries/trinidad-and-tobago/overview
Statistical Issues
(As of December 2021)
| 1. Assessment of Data Adequacy for Surveillance | |
| General: Data provision is broadly adequate for surveillance. However, some weaknesses remain in both coverage and timeliness, partly reflecting capacity constraints. The authorities are committed to improving data provision, through the establishment of an independent National Statistics Institute (NSI), which will replace the Central Statistical Office (CSO). | |
| National Accounts Statistics: The CSO has made noticeable improvements in the timeliness of data provision since 2015. The GDP estimates have been improved and rebased from 2000 to 2012. Revised real and nominal production—side GDP estimates have been compiled from 2012 to 2017. The CSO is also working on updating the estimates for 2000 to 2011 at broad industry level. The last current price expenditure-side GDP data is for 2017 but constant prices remain for 2008. The CSO developed and released quarterly production-side GDP estimates at current and constant (2012) prices. The publication of the CSO quarterly labor force bulletin is delayed further, with the latest observation for 2020: Q2. | |
| Price Statistics: The compilation methodology to estimate the Retail Price Index (RPI), implemented in mid-2016, corrects a significant upward bias, primarily in the food component. In addition, the RPI basket has been rebased to January 2015, with new weights drawn from the 2008–09 household budgetary survey. The CSO has recompiled and published the RPI for January 2015 to April 2018. The CSO received CARTAC TA in 2018 to develop the Price Index (PPI) and the Domestic Production Index (DPI). The TA also provided guidance to the authorities in planning for household budget survey to rebase the CPI. | |
| Government Finance Statistics: The Ministry of Finance (MoF) compiles fiscal data using a national classification system for government transactions and debt of the central government. The compilation follows the Government Finance Statistics Manual (GFSM) 1986. However, the government accounts for one-off sources (such as asset sales and superdividends) as revenues, whereas these should be accounted for as financing sources according to GFSM 2014. Data on public enterprises and statutory bodies are compiled and published once a year. There are limited data on debt outside of the central government. The authorities report annual GFS data to STA, though with a lag. The last annual data reported was for fiscal year FY2014, which was reported in November 2017. Data is limited to central government revenues, expenditures, financing and COFOG data, no debt or other balance sheet data is reported. | |
| Monetary and Financial Statistics: The monthly monetary accounts currently cover the CBTT and other depository corporations (ODCs), that is, commercial banks and nonbank financial institutions (finance houses, merchant banks, trusts, and mortgage companies). No data are reported by income funds, which act like money market funds and should be included as part of the ODCs sector. Since mutual funds are not regulated by the CBTT, an agreement with the Securities and Exchange Commission of Trinidad and Tobago is needed to obtain their data on a regular basis. Following a TA mission in May 2014, the CBTT has become a quarterly reporter of balance sheet data for the other financial corporations (OFCs) sector, covering insurance corporations, pension funds, the Heritage and Stabilization Fund (HSF), the Agricultural Development Bank (ADB), and the Mortgage Finance Company (TTMF). The CBTT needs to expand the coverage of the OFC sector to include the National Insurance Board (NIB), the Unit Trust Corporation (UTC), the Home Mortgage Bank (HMB), and the credit unions. Since mid-2013, the CBTT reports monetary data to STA using the SRFs. | |
| External Sector statistics: The CBTT is responsible for the compilation and dissemination of balance of payments (BoP) statistics. Quarterly and annual BoP data are disseminated by the CBTT in its national publications, although with some lag. Generally, compilation of BoP statistics is heavily based on administrative records and survey data from entities with cross-border transactions. The CBTT has enhanced the quality of trade in goods data for the BoP with contribution from direct reports from energy companies. Recent TA mission has recommended focusing on improving the quality of trade in customs’non-energy goods data. Despite continued substantial progress, in the recording and scope of repatriated profits under the income account, errors and omissions are still large. Additional TA is scheduled for 2022 to address the remaining issues, with specific emphasis on repatriated earnings under capital outflows of the financial account. The CBTT prepares quarterly external debt statistics (QEDS) following the 2013 External Debt Statistics: Guide for Compilers and Users, which are published on the World Bank’s website since July 2018. | |
| II. Data Standards and Quality | |
| In October 2021, Trinidad and Tobago fully implemented the IMF e-GDDS framework, an important data transparency initiative, by launching a National Summary Data Page (NSDP). The NSDP is a national “data portal” that serves as a one-stop publication vehicle for publishing essential macroeconomic data aligned with data category in the Table of Common Indicators Required for Surveillance, according to pre-announced release calendar. | The data Report on the Observance of Standards and Codes (ROSC) was published in February 2006. |
| 1. Assessment of Data Adequacy for Surveillance | |
| General: Data provision is broadly adequate for surveillance. However, some weaknesses remain in both coverage and timeliness, partly reflecting capacity constraints. The authorities are committed to improving data provision, through the establishment of an independent National Statistics Institute (NSI), which will replace the Central Statistical Office (CSO). | |
| National Accounts Statistics: The CSO has made noticeable improvements in the timeliness of data provision since 2015. The GDP estimates have been improved and rebased from 2000 to 2012. Revised real and nominal production—side GDP estimates have been compiled from 2012 to 2017. The CSO is also working on updating the estimates for 2000 to 2011 at broad industry level. The last current price expenditure-side GDP data is for 2017 but constant prices remain for 2008. The CSO developed and released quarterly production-side GDP estimates at current and constant (2012) prices. The publication of the CSO quarterly labor force bulletin is delayed further, with the latest observation for 2020: Q2. | |
| Price Statistics: The compilation methodology to estimate the Retail Price Index (RPI), implemented in mid-2016, corrects a significant upward bias, primarily in the food component. In addition, the RPI basket has been rebased to January 2015, with new weights drawn from the 2008–09 household budgetary survey. The CSO has recompiled and published the RPI for January 2015 to April 2018. The CSO received CARTAC TA in 2018 to develop the Price Index (PPI) and the Domestic Production Index (DPI). The TA also provided guidance to the authorities in planning for household budget survey to rebase the CPI. | |
| Government Finance Statistics: The Ministry of Finance (MoF) compiles fiscal data using a national classification system for government transactions and debt of the central government. The compilation follows the Government Finance Statistics Manual (GFSM) 1986. However, the government accounts for one-off sources (such as asset sales and superdividends) as revenues, whereas these should be accounted for as financing sources according to GFSM 2014. Data on public enterprises and statutory bodies are compiled and published once a year. There are limited data on debt outside of the central government. The authorities report annual GFS data to STA, though with a lag. The last annual data reported was for fiscal year FY2014, which was reported in November 2017. Data is limited to central government revenues, expenditures, financing and COFOG data, no debt or other balance sheet data is reported. | |
| Monetary and Financial Statistics: The monthly monetary accounts currently cover the CBTT and other depository corporations (ODCs), that is, commercial banks and nonbank financial institutions (finance houses, merchant banks, trusts, and mortgage companies). No data are reported by income funds, which act like money market funds and should be included as part of the ODCs sector. Since mutual funds are not regulated by the CBTT, an agreement with the Securities and Exchange Commission of Trinidad and Tobago is needed to obtain their data on a regular basis. Following a TA mission in May 2014, the CBTT has become a quarterly reporter of balance sheet data for the other financial corporations (OFCs) sector, covering insurance corporations, pension funds, the Heritage and Stabilization Fund (HSF), the Agricultural Development Bank (ADB), and the Mortgage Finance Company (TTMF). The CBTT needs to expand the coverage of the OFC sector to include the National Insurance Board (NIB), the Unit Trust Corporation (UTC), the Home Mortgage Bank (HMB), and the credit unions. Since mid-2013, the CBTT reports monetary data to STA using the SRFs. | |
| External Sector statistics: The CBTT is responsible for the compilation and dissemination of balance of payments (BoP) statistics. Quarterly and annual BoP data are disseminated by the CBTT in its national publications, although with some lag. Generally, compilation of BoP statistics is heavily based on administrative records and survey data from entities with cross-border transactions. The CBTT has enhanced the quality of trade in goods data for the BoP with contribution from direct reports from energy companies. Recent TA mission has recommended focusing on improving the quality of trade in customs’non-energy goods data. Despite continued substantial progress, in the recording and scope of repatriated profits under the income account, errors and omissions are still large. Additional TA is scheduled for 2022 to address the remaining issues, with specific emphasis on repatriated earnings under capital outflows of the financial account. The CBTT prepares quarterly external debt statistics (QEDS) following the 2013 External Debt Statistics: Guide for Compilers and Users, which are published on the World Bank’s website since July 2018. | |
| II. Data Standards and Quality | |
| In October 2021, Trinidad and Tobago fully implemented the IMF e-GDDS framework, an important data transparency initiative, by launching a National Summary Data Page (NSDP). The NSDP is a national “data portal” that serves as a one-stop publication vehicle for publishing essential macroeconomic data aligned with data category in the Table of Common Indicators Required for Surveillance, according to pre-announced release calendar. | The data Report on the Observance of Standards and Codes (ROSC) was published in February 2006. |
Table of Common Indicators Required for Surveillance
(As of December 6, 2021)
Any reserve 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 notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank,and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability positions vis-a-vis nonresidents. Only from 2011 onwards.
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A); Irregular (I); Not Available (NA).
Table of Common Indicators Required for Surveillance
(As of December 6, 2021)
| Date of latest observation | Date received | Frequency of Data7 | Frequency of Reporting7 | Frequency of publication7 | |
|---|---|---|---|---|---|
| Exchange Rates | Dec 2021 | Dec 2021 | D | D | D |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | Sept 2021 | Dec 2021 | M | M | M |
| Reserve/Base Money | Aug 2021 | Nov2021 | M | M | M |
| Broad Money | Aug 2021 | Nov2021 | M | M | M |
| Central Bank Balance Sheet | Aug 2021 | Nov2021 | M | M | M |
| Consolidated Balance Sheet of the Banking System | Aug 2021 | Nov2021 | M | M | M |
| Interest Rates2 | Sept 2021 | Nov2021 | M | M | M |
| Consumer Price Index | Sept 2021 | Dec 2021 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3-General Government4 | NA | NA | NA | NA | NA |
| Revenue, Expenditure, Balance and Composition of Financing3-Central Government | Sept 2021 | Oct 2021 | Q | I | A |
| Stocks of Central Government and Central Government-Guaranteed Debt5 | Oct 2021 | Oct 2021 | Q | I | Q |
| External Current Account Balance | 2020: Q2 | Dec 2021 | Q | Q | Q |
| Exports and Imports of Goods and Services | 2020: Q2 | Dec 2021 | Q | Q | Q |
| GDP/GNP | 2021: Q1 | Sept 2021 | Q | Q | Q |
| Gross External Debt | Sept 2021 | Nov2021 | M | M | M |
| International Investment Position6 | 2020: Q2 | Dec 2020 | Q | Q | Q |
Any reserve 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 notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank,and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability positions vis-a-vis nonresidents. Only from 2011 onwards.
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A); Irregular (I); Not Available (NA).
Table of Common Indicators Required for Surveillance
(As of December 6, 2021)
| Date of latest observation | Date received | Frequency of Data7 | Frequency of Reporting7 | Frequency of publication7 | |
|---|---|---|---|---|---|
| Exchange Rates | Dec 2021 | Dec 2021 | D | D | D |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | Sept 2021 | Dec 2021 | M | M | M |
| Reserve/Base Money | Aug 2021 | Nov2021 | M | M | M |
| Broad Money | Aug 2021 | Nov2021 | M | M | M |
| Central Bank Balance Sheet | Aug 2021 | Nov2021 | M | M | M |
| Consolidated Balance Sheet of the Banking System | Aug 2021 | Nov2021 | M | M | M |
| Interest Rates2 | Sept 2021 | Nov2021 | M | M | M |
| Consumer Price Index | Sept 2021 | Dec 2021 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3-General Government4 | NA | NA | NA | NA | NA |
| Revenue, Expenditure, Balance and Composition of Financing3-Central Government | Sept 2021 | Oct 2021 | Q | I | A |
| Stocks of Central Government and Central Government-Guaranteed Debt5 | Oct 2021 | Oct 2021 | Q | I | Q |
| External Current Account Balance | 2020: Q2 | Dec 2021 | Q | Q | Q |
| Exports and Imports of Goods and Services | 2020: Q2 | Dec 2021 | Q | Q | Q |
| GDP/GNP | 2021: Q1 | Sept 2021 | Q | Q | Q |
| Gross External Debt | Sept 2021 | Nov2021 | M | M | M |
| International Investment Position6 | 2020: Q2 | Dec 2020 | Q | Q | Q |
Any reserve 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 notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank,and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability positions vis-a-vis nonresidents. Only from 2011 onwards.
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A); Irregular (I); Not Available (NA).