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IMF Research

External Balance Assessment (EBA): Data and Estimates from the Pilot Exercise

Last Updated: August 10, 2015

The IMF's Research Department has developed the External Balance Assessment (EBA) methodology for assessing current accounts and exchange rates. The estimates reported here are derived using a slight modification of the “Version 2.0” of the EBA methodology which was developed in 2013. This modification includes extending the sample used in estimation through 2013 (previously through 2010), as well as allowing for some nonlinearities in the impact of demographics on current accounts. The slightly modified version of the methodology was used to inform the staff assessments in the 2015 External Sector Report.

The information and estimates available here should not be considered as representing the assessments or views of the IMF or its Executive Board. A number of caveats apply to the EBA data inputs. The EBA exercise drew on data and estimates that were available as of Spring 2015 (in preparation for the Spring 2015 WEO round), some of which may since have become outdated. Some data may have different definitions or coverage than IMF or IMF member country statistics, and some data definitions may not be fully comparable across countries. Some data, including for capital controls and foreign exchange intervention policies, are imperfect proxy measures. For that reason, the numerical values used in the exercise to indicate desirable policy settings may be benchmarks that do not necessarily fully represent the views of IMF staff.