Abstract
SWEDEN
Title page
SWEDEN
STAFF REPORT FOR THE 2023 ARTICLE IV CONSULTATION—INFORMATIONAL ANNEX
February 17, 2023
Prepared By
European Department
(In consultation with other departments)
Contents
FUND RELATIONS
STATISTICAL ISSUES
Fund Relations
(As of December 31, 2022)
Membership Status: Joined: August 31, 1951; Article VIII.
| General Resources Account: | SDR Million | Percent of Quota |
| Quota | 4,430.00 | 100.00 |
| Fund holdings of currency (Exchange Rate) | 3,140.79 | 70.90 |
| Reserve Tranche Position | 1,209.69 | 29.14 |
| Lending to the Fund | ||
| New Arrangements to Borrow | 21.62 | |
| SDR Department: | SDR Million | Percent Allocation |
| Net cumulative allocation | 6,494.92 | 100.00 |
| Holdings | 6700.10 | 103.16 |
| General Resources Account: | SDR Million | Percent of Quota |
| Quota | 4,430.00 | 100.00 |
| Fund holdings of currency (Exchange Rate) | 3,140.79 | 70.90 |
| Reserve Tranche Position | 1,209.69 | 29.14 |
| Lending to the Fund | ||
| New Arrangements to Borrow | 21.62 | |
| SDR Department: | SDR Million | Percent Allocation |
| Net cumulative allocation | 6,494.92 | 100.00 |
| Holdings | 6700.10 | 103.16 |
Outstanding Purchases and Loans: None
Latest Financial Arrangements: None
Projected Payments to Fund:
(SDR million; based on existing use of resources and present holdings of SDRs):
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2023 | 2024 | 2025 | 2026 | 2027 | |
| Principal | |||||
| Charges/Interest | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Total | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2023 | 2024 | 2025 | 2026 | 2027 | |
| Principal | |||||
| Charges/Interest | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Total | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
Exchange Rate Arrangements: The Krona has been floating freely since November 19, 1992. Sweden has accepted the obligations of Article VIII (sections 2(a), 3 and 4) and maintains an exchange system free of restrictions on payments and transfers for current international transactions, apart from those notified to the Fund pursuant to Decision No. 144-(52/51).
Article IV Consultation: Sweden is on the 12-month consultation cycle.
FSAP Participation: A mandatory FSAP has been conducted in time for the 2023 Article IV consultation, in line with the five-year cycle for members or members’ territories with financial sectors that are determined to be systemically important pursuant to Decision No. 15495-(13/111), adopted December 6, 2013.
Statistical Issues
(As of December 31, 2022)
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision is adequate for surveillance. The country has a full range of statistical publications, many of which are on the internet. The quality and timeliness of the economic database are generally very good. | |
| II. Data Standards and Quality | |
| Subscriber to the Fund’s Special Data Dissemination Standard Plus (SDDS Plus) since February 11, 2015. | A data ROSC was published in September 2001, followed by an update in November 2002. |
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision is adequate for surveillance. The country has a full range of statistical publications, many of which are on the internet. The quality and timeliness of the economic database are generally very good. | |
| II. Data Standards and Quality | |
| Subscriber to the Fund’s Special Data Dissemination Standard Plus (SDDS Plus) since February 11, 2015. | A data ROSC was published in September 2001, followed by an update in November 2002. |
National Accounts: Sweden publishes the national accounts according to the European System of Accounts (ESA) 2010 since September 2014.
Government Finance Statistics: Government finance statistics (GFS) are compiled on an accrual basis according to the ESA 2010 methodology and reported to Eurostat on a quarterly and annual basis. Fiscal data in the GFSM 2014 framework is reported through the Eurostat convergence project with the IMF. The IMF GFS datasets cover data on the general government operations and financial balance sheet.
External Sector Statistics: Sweden publishes external sector statistics based on the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) format since December 2014.
Monetary and Financial Statistics: Monetary statistics are timely and of good quality. Monetary data reported for International Financial Statistics are based on the European Central Bank’s (ECB) framework for collecting, compiling, and reporting monetary data.
Financial Sector Surveillance: Sweden has reported Financial Soundness Indicators beginning from 2005 up to 2022Q3 along with metadata, which are available on the IMF’s website (http://data.imf.org/).
Sweden: Table of Common Indicators Required for Surveillance
(As of December 31, 2022)
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-à-vis nonresidents.
Daily (D), weekly (W), monthly (M), quarterly (Q), annual (A), irregular (I); and not available (NA).
Sweden: Table of Common Indicators Required for Surveillance
(As of December 31, 2022)
| Date of latest observation | Date received | Frequency of Data7 | Frequency of Reporting7 | Frequency of Publication7 | |
| Exchange Rates | Current | Current | D | D | D |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | 2022/12/30 | 2023/01/05 | W | W | W |
| Reserve/Base Money | 2022/12/30 | 2023/01/05 | W | W | W |
| Broad Money | 2022/12/30 | 2023/01/05 | W | W | W |
| Central Bank Balance Sheet | 2022/12/30 | 2023/01/05 | W | W | M |
| Consolidated Balance Sheet of the Banking System | 2022/12 | 2023/01 | M | M | M |
| Interest Rates2 | Current | Current | D | D | D |
| Consumer Price Index | 2022:12 | 2023/01 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3––General Government4 | 2022:Q3 | 2022/12 | Q | Q | A |
| Revenue, Expenditure, Balance, and Composition of Financing3––Central Government | 2022:Q3 | 2022:12 | M | M | A |
| Stocks of Central Government and Central Government-Guaranteed Debt5 | 2022:Q3 | 2022:12 | M | M | M |
| External Current Account Balance | 2022:Q3 | 2022:Q4 | Q | Q | Q |
| Exports and Imports of Goods and Services | 2022:Q3 | 2022:Q4 | Q | Q | Q |
| GDP | 2022:Q3 | 2022/12 | Q | Q | Q |
| Gross External Debt | 2022:Q3 | 2022/12 | Q | Q | Q |
| International Investment Position6 | 2022:Q3 | 2022/12 | 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-à-vis nonresidents.
Daily (D), weekly (W), monthly (M), quarterly (Q), annual (A), irregular (I); and not available (NA).
Sweden: Table of Common Indicators Required for Surveillance
(As of December 31, 2022)
| Date of latest observation | Date received | Frequency of Data7 | Frequency of Reporting7 | Frequency of Publication7 | |
| Exchange Rates | Current | Current | D | D | D |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | 2022/12/30 | 2023/01/05 | W | W | W |
| Reserve/Base Money | 2022/12/30 | 2023/01/05 | W | W | W |
| Broad Money | 2022/12/30 | 2023/01/05 | W | W | W |
| Central Bank Balance Sheet | 2022/12/30 | 2023/01/05 | W | W | M |
| Consolidated Balance Sheet of the Banking System | 2022/12 | 2023/01 | M | M | M |
| Interest Rates2 | Current | Current | D | D | D |
| Consumer Price Index | 2022:12 | 2023/01 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3––General Government4 | 2022:Q3 | 2022/12 | Q | Q | A |
| Revenue, Expenditure, Balance, and Composition of Financing3––Central Government | 2022:Q3 | 2022:12 | M | M | A |
| Stocks of Central Government and Central Government-Guaranteed Debt5 | 2022:Q3 | 2022:12 | M | M | M |
| External Current Account Balance | 2022:Q3 | 2022:Q4 | Q | Q | Q |
| Exports and Imports of Goods and Services | 2022:Q3 | 2022:Q4 | Q | Q | Q |
| GDP | 2022:Q3 | 2022/12 | Q | Q | Q |
| Gross External Debt | 2022:Q3 | 2022/12 | Q | Q | Q |
| International Investment Position6 | 2022:Q3 | 2022/12 | 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-à-vis nonresidents.
Daily (D), weekly (W), monthly (M), quarterly (Q), annual (A), irregular (I); and not available (NA).