Global Conferences on DGI
June 2, 2016
In 2009, the G-20 Finance Ministers and Central Bank Governors (FMCBG) endorsed 20 recommendations to address data gaps revealed by the global financial crisis. The initiative, aimed at supporting enhanced policy analysis, is led by the Financial Stability Board (FSB) and the International Monetary Fund (IMF). The Inter-Agency Group on Economic and Financial Statistics (IAG)1 plays the global facilitator role to coordinate and monitor the implementation of the DGI recommendations.
The first phase of the DGI was successfully concluded in September 2015 and the second phase of the initiative (DGI-2) was endorsed by the G-20 FMCBG. The key objective of the DGI-2 is to implement the regular collection and dissemination of comparable, timely, integrated, high quality, and standardized statistics for policy use. DGI-2 encompasses 20 new or revised recommendations, focused on datasets that support: (i) monitoring of risk in the financial sector; and (ii) analysis of vulnerabilities, interconnections and spillovers, not least cross-border.
Ongoing consultative process
The Statistics Department of the IMF jointly with the FSB Secretariat has been organizing Global Conferences on the G-20 DGI since 2009. These annual events are part of the consultation process leading to the preparation of the progress reports that are delivered to the G-20 FMCBG. The Global Conferences are alternatively hosted by the IMF and the FSB and are attended by senior officials from the G-20 economies and from non-G-20 FSB member countries, and by the IAG member agencies.
1 The IAG members are BIS, ECB, Eurostat, IMF (chair), OECD, United Nations and World Bank.