First Meeting of the Luxembourg Group June 2006
Last Updated: June 19, 2013
The Luxembourg Group was created as an informal working group of practitioners to consider the difficulties of collecting and compiling remittance data. The objective of the Group is to make recommendations for improvements that should lead to the production of a compilation guide for remittance statistics.
Jointly with Eurostat and the World Bank, the IMF planned the first meeting of the Luxembourg Group (and constituted its secretariat) which was held in June 2006 with participation from 16 countries (including two absentee contributions). The Centre for Latin American Monetary Studies (CEMLA) also reported about progress in their project of developing compilation guidance for Latin American countries (the IMF Statistics Department participates in an advisory capacity).
The meeting demonstrated that varied experience with data systems for the compilation of remittance data exists, making the planned production of a compilation guide a feasible project. The Group concluded that it will move forward, continuing to collect the required material and producing an annotated outline. The next meeting is planned for December 4-5, 2006, and the Central Bank of Lebanon has offered to host it.
The following countries and international institutions prepared contributions to the Luxembourg meeting:
Centre for Latin American Monetary Studies (CEMLA)
Progress Report on CEMLA Remittances Compilation Manual for LAC Countries
International Monetary Fund
Remittances in the Balance of Payments Framework: Current Problems and Forthcoming Improvements
Statistical Measurement of OFW Remittances
Improving Data on Remittances