## 25 Years of IMF Capacity Development in Statistics — Getting Results in Macroeconomic Statistics

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### Role and strategic importance of macroeconomic and financial statistics
- Reliable, timely and internationally comparable macroeconomic and financial statistics are essential for policymakers, international institutions, rating agencies, markets and the public.
- These statistics underpin economic policy formulation, provide transparency on government actions, and guide private-sector decisions including foreign investments and financing decisions.

### STA capacity development (CD): scale, funding, and institutional position
- Capacity development in technical assistance and training is central to the IMF Statistics Department’s (STA) work to improve statistics and data collection.
- CD increased more than five-fold between 1991 and 2016.
- CD constitutes more than half of STA’s spending today.
- STA is the third largest provider of technical assistance within the IMF and ranks second in training after the IMF Institute for Capacity Development.
- Financing composition:
  - More than half of STA CD activities is financed through nine multi-partner Regional Technical Assistance Centers.
  - More than a quarter of STA CD activities is funded by multi-partner trust funds and bilateral partners led by Japan, the United Kingdom, Switzerland, Belgium, and the Netherlands.
  - STA received funding from the Bill and Melinda Gates Foundation (first IMF department to receive private foundation funding).
- Participation and outputs:
  - 184 countries—almost all IMF members—participate in one of the IMF’s Data Standards Initiatives.
  - The brochure presents 30 selected cases from 25 years of STA CD work.

### Objectives and approaches of STA CD
- Fundamental objective: help countries build statistical infrastructure or produce a basic suite of macroeconomic statistics after conflict, transition, or for new IMF members.
  - Examples: guidance on statistical legislation or institutional organization (Bosnia and Herzegovina, Cambodia); support for first comprehensive statistics (Palau).
- Topic-specific CD: targeted improvements in areas such as GDP rebasing, price indices, monetary statistics, external sector statistics, government finance statistics, and crisis-related data reliability.
  - Examples: Zambia (rebasing GDP, case 13); Lebanon (price indices, case 25); Ukraine (monetary statistics, case 1); Indonesia (GFS standards, case 18); Greece (reliability during debt crisis, case 14).
- Data dissemination and transparency: support for IMF Data Standards Initiatives, including introduction of e-GDDS in Africa and China’s subscription to SDDS.
- Regional and harmonization projects: promote peer learning and integration (e.g., EAC GFS harmonization, case 27; Central America monetary statistics harmonization, case 8).
- Expansion into advanced statistical domains:
  - STA CD helped 48 developing countries produce Financial Soundness Indicators (FSIs) (case 30).
  - STA developed and implemented the Data Template on Foreign Reserves and International Currency Liquidity (case 4).
  - STA implemented the Financial Access Survey (FAS) to collect financial inclusion information (case 9).

### Results, evaluations, and illustrative success factors
- General outcomes:
  - Multi-year and multi-sector CD often produce substantial and sustained improvements in statistical compilation, dissemination, and policy use.
  - STA CD supports “data for decisions” by enabling evidence-based policymaking, improved policy analysis and IMF surveillance.
- Key success factors observed across cases:
  - Multi-year, consistent engagement and resident advisors for day-to-day support.
  - Multisector approaches to ensure cross-sector consistency.
  - Strong domestic commitment and adequate resourcing of statistical agencies.
  - Use of regional technical assistance centers and multi-partner trust funds to scale CD activities.
  - Hands-on training combined with remote follow-up and peer learning in regional workshops.

### Representative case outcomes (selected highlights)
- Case 1 — Ukraine (monetary statistics)
  - STA engaged 1991–2002; by 1996 methodological gaps were substantially reduced and a country page was published in IFS.
  - By 2002 Ukraine’s monetary and financial statistics met SDDS periodicity and timeliness requirements; Ukraine became the 52nd SDDS subscriber in 2003.
- Case 2 — Bosnia and Herzegovina (statistical infrastructure)
  - Resident Multisector Statistics Advisor (1999–2004) helped draft a state-wide statistics law, establish a statistics division in the Central Bank, and produce first GDP and BOP estimates in line with international methodologies.
  - Country page published in IFS in 2001; statistics considered broadly adequate for IMF surveillance.
- Case 3 — WAEMU external statistics (regional compilation system)
  - Resident advisor at BCEAO (1996–99) helped develop a common compilation system compliant with BPM5 for WAEMU members; response rates to BOP questionnaires increased dramatically and system expanded to other francophone African countries.
  - System positioned as the migration base to BPM6 and to support coordinated surveys.
- Financial Access Survey (FAS)
  - FAS provides more than a decade of internationally comparable financial inclusion statistics covering 189 economies.
  - Collaboration with the Bill & Melinda Gates Foundation led to inclusion of mobile money statistics in 2014; mobile money data cover around 80 percent of FAS reporters in Sub-Saharan Africa.
  - Contributors grew from 138 in 2010 to 189 currently; FAS is an official data source for the G-20 Set of Financial Inclusion Indicators and contributors to selected SDG indicators.
- Case 10 — Bhutan price statistics (2010–13)
  - Bhutan increased CPI coverage from capital-city only to national, increased frequency from quarterly to monthly, and launched its first-ever PPI in 2012.
- Case 11 — EDDI (2010–15)
  - 25 African countries; outcomes included development of quarterly national accounts, rebasing in several countries, IIP compilation in all balance of payments module countries, publication of national summary data pages in 12 countries and advance release calendars in 13 countries.
  - Mid-term evaluation in 2012 rated EDDI very favorably on relevance, efficiency, impact, sustainability, and effectiveness.
- Case 12 — East Africa rebasing (2010–15)
  - By 2014 all partner countries except Eritrea published improved rebased national accounts.
  - Rebasing results: Tanzania’s GDP increased by one-third; Kenya’s by a quarter; Uganda’s by more than ten percent.
- Case 13 — Zambia rebasing (2011–14)
  - Rebasing from 1994 to 2010 released March 2014; the rebased national accounts were about 25 percent higher than measured before.
- Case 14 — Greece monthly government data (2011–14)
  - Joint FAD-STA project produced monthly fiscal reports; as of April 2014 Greece released monthly aggregates and detailed data within a maximum of 30 days after the reporting period.
- South Sudan — MFS and FSIs
  - South Sudan independent July 2011; joined the IMF April 2012.
  - STA developed MFS frameworks and a country page was introduced in the November 2013 IFS issue; FSI data compiled for surveillance but not publicly disseminated.
- Case 21 — Montenegro quarterly national accounts
  - First quarterly GDP expenditure-based estimates released in 2015; statistics deemed broadly adequate for surveillance and relevant for EU accession (chapter 18).
- Case 22 — Template on government revenues from natural resources (2012–16)
  - STA designed a standard revenue template consistent with the 2014 GFSM; the EITI resource transparency standard is implemented in 49 countries and more than 30 have started submitting revenue templates.
- Case 23 — e-GDDS and Open Data Platform for Africa (ODP)
  - By July 2016, five African countries adopted ODPs for publishing NSDPs; ODPs allow automatic data retrieval via SDMX and re-dissemination through IFS.
- Case 24 — Palau macroeconomic statistics (2012–15)
  - In 2015 Palau compiled its first full suite of macroeconomic statistics and began reporting to the IMF for surveillance.
- Case 25 — Lebanon CPI (2013–16)
  - CPI reinitiated and revised; revised CPI released March 2014 with methodological improvements, monthly rent data collection, expanded outlet sample, and regional indexes; CPI compiled monthly since 2014.
- Case 26 — External sector statistics in Central Asia (2014–16)
  - Tajikistan moved from annual BOP to quarterly BOP and IIP reporting and quarterly external debt statistics to the World Bank; Kyrgyz Republic achieved similar outcomes from a more advanced baseline.
- Case 27 — Harmonizing GFS in East African Community (EAC)
  - Within two years partner states aligned GFS with GFSM 2014 and now compile general government statistics including extra-budgetary units, social security funds, and local governments.
- Case 28 — Paraguay GFSM 2014 implementation (2014–15)
  - Paraguay disseminated GFSM2014-compliant government finance statistics in April 2015.
- Case 29 — Bolivia external sector statistics (2015–16)
  - By August 2016 Bolivia made good progress toward BPM6 adoption and implemented the data template on foreign reserves and international currency liquidity; Bolivia aspires to SDDS subscription.
- Case 30 — FSIs in Africa, Asia and the Pacific (2013–17)
  - Project covered 48 selected countries; as of April 2016, 20 countries started reporting FSIs to the IMF, providing an average of over 11 out of the 12 core indicators; by July 2016 another five countries reported; most remaining 23 countries agreed to disseminate FSIs by April 2017.
  - Reported uses include Botswana (identify abnormal areas), Malawi (stress-testing and off-site supervision), Namibia (annual Financial Stability Report), and Sudan (early warning systems).

### Lessons learned and future directions
- Multi-year, consistent engagement is crucial for sustainable statistical reform in economies undergoing deep transition or fragility.
- Resident advisors and multisector approaches accelerate institutional development and cross-sector consistency.
- External funding, regional technical assistance centers, and multi-partner trust funds are central to scaling CD activities.
- STA will use the Results-Based Management (RBM) framework for future CD monitoring and evaluation to enhance accountability for IMF management, member countries, external funding partners and other stakeholders.
- The documented cases provide baselines and lessons to guide future CD efforts and to measure future achievements.

*International Monetary Fund, 25 Years of IMF Capacity Development in Statistics, September 2016*

### Section 1

### GETTING RESULTS IN MACROECONOMIC STATISTICS

### Role and strategic importance of macroeconomic and financial statistics
- Reliable, timely and internationally comparable macroeconomic and financial statistics are essential for policymakers and international institutions, as well as for private users, such as rating agencies, markets and the public.
- These statistics are the basis for economic policy formulation within countries, provide transparency on government actions, and guide private sector and other stakeholders in their decision-making, such as on foreign investments and financing decisions.

### STA capacity development (CD): scale, funding, and institutional position
- Capacity development in the form of technical assistance and training is at the core of the IMF Statistics Department’s (STA) efforts to assist countries around the world to improve statistics and data collection.
- CD increased more than five-fold between 1991 and 2016.
- CD constitutes more than half of STA’s spending today.
- STA is now the third largest provider of technical assistance across departments within the IMF, and ranks second in training only after the IMF Institute for Capacity Development.
- More than half of STA CD activities is financed through the nine multi-partner Regional Technical Assistance Centers.
- More than a quarter of STA CD activities is funded by multi-partner trust funds and bilateral partners led by Japan, the United Kingdom, Switzerland, Belgium, and the Netherlands.
- STA was the first IMF department to receive funding from a private foundation, the Bill and Melinda Gates Foundation.
- 184 countries—almost all IMF members—participate in one of the IMF’s Data Standards Initiatives, committing to more transparent compilation and dissemination practices and future statistical improvements.
- The brochure presents 30 selected cases from 25 years of STA CD work.

### Objectives and approaches of STA CD
- Fundamental objective: help countries build statistical infrastructure or produce a basic suite of macroeconomic statistics (e.g., after prolonged conflict, economic transition, or for new IMF members).
  - Examples: guidance on statistical legislation or institutional organization (cases on Bosnia and Herzegovina and Cambodia), support for first comprehensive statistics (case on Palau).
- Topic-specific CD: improve macroeconomic statistics in a specific area.
  - Examples: rebasing GDP estimates in Zambia (case 13); developing price indices in Lebanon (case 25); developing monetary statistics after Ukraine’s transition (case 1); improving external sector statistics in three Central Asian countries (case 26); implementing government finance statistics standards in Indonesia (case 18); improving reliability of statistics during Greece’s debt crisis (case 14).
- Data dissemination and transparency: supporting countries to meet IMF Data Standards Initiatives (e.g., introduction of e-GDDS in Africa; China’s subscription to SDDS).
- Regional and harmonization projects: promote peer learning, regional harmonization, and economic integration.
  - Examples: harmonization of government finance statistics for East African Community monetary union (case 27); harmonization of monetary statistics in Central America (case 8).
- Expansion into advanced statistical domains:
  - STA CD helped 48 developing countries produce Financial Soundness Indicators (FSIs) (case 30).
  - STA developed and implemented the Data Template on Foreign Reserves and International Currency Liquidity (case 4).
  - STA implemented the Financial Access Survey to collect information on financial inclusion (case 9).

### Results, evaluations, and success factors (illustrative cases)
- General outcomes:
  - Multi-year and multi-sector CD efforts often produce substantial and sustained improvements in statistical compilation, dissemination, and use for policymaking and transparency.
  - STA CD supports “data for decisions” by enabling countries to use data for evidence-based policymaking, improving policy analysis and IMF surveillance.
- Case 1 — Ukraine (Adopting International Standards in Monetary Statistics)
  - Context and approach: STA multisector missions in 1991 and 1992 identified major shortcomings in monetary and financial statistics after the dissolution of the Soviet Union; STA supported the National Bank of Ukraine (NBU) over 1993-2002 to compile monetary statistics in line with international standards.
  - Outcomes:
    - By 1996, Ukraine had substantially reduced the methodological gap and had its country page published in the IMF’s International Financial Statistics (IFS) (data.imf.org).
    - By 2002, coverage, periodicity and timeliness of Ukraine’s monetary and financial statistics were largely in line with requirements under the Special Data Dissemination Standard (SDDS).
    - Ukraine became the 52nd subscriber to the SDDS in 2003 and the first country in the Commonwealth of Independent States to fulfill SDDS requirements.
  - Evaluation and success factors:
    - CD activities in the first decade after independence were relevant, effective, and sustainable, helping the NBU bring monetary statistics in line with international standards.
    - Progress required cultural change at the NBU during rapid economic transition; sustained, consistent long-term engagement accelerated reforms.
- Case 2 — Bosnia and Herzegovina (Building Statistical Infrastructure)
  - Context and approach: Following the 1992-96 war, Bosnia and Herzegovina’s statistical infrastructure was inadequate; a resident Multisector Statistics Advisor (MSA) was placed during 1999-2004 to support reorganization and first compilation of macroeconomic statistics across sectors.
  - Outcomes:
    - The MSA helped draft a state-wide statistics law and establish a statistics division in the new Central Bank.
    - TA and training supported production of macroeconomic statistics across all areas, including the first GDP and balance of payments estimates in line with international methodologies.
    - In 2001, Bosnia and Herzegovina had a country page in the IMF’s International Financial Statistics (IFS) (data.imf.org).
    - By the end of the MSA appointment, statistical legal and organizational changes provided the foundation for subsequent improvements; statistics are considered broadly adequate for IMF surveillance.
    - Bosnia and Herzegovina’s formal application for EU membership in February 2016 can be expected to further improve statistics, since statistics constitutes one of the 35 chapters of the acquis communautaire (2013, chapter 18).
  - Evaluation and success factors:
    - Long-term resident advisory support provided day-to-day assistance and promoted multi-sector consistency.
    - Faster progress in monetary statistics than in real sector statistics reflected differences in legislative basis, reform urgency, commitment, and resources between the central bank and the state statistical office, highlighting the importance of a supportive and adequately resourced host institution.

### Lessons learned and future directions
- Multi-year, consistent engagement is crucial for substantial and sustainable statistical reform, especially in economies undergoing deep transition or fragility.
- Resident advisors and multisector approaches can accelerate institutional development and cross-sector consistency.
- External funding, regional technical assistance centers, and multi-partner trust funds play a central role in scaling CD activities.
- STA’s future CD monitoring and evaluation will use the Results-Based Management (RBM) framework to enhance accountability for IMF management, member countries, external funding partners, and other stakeholders.
- The brochure’s cases provide baselines and lessons to guide future CD efforts and to measure future achievements.

*International Monetary Fund, 25 Years of IMF Capacity Development in Statistics, September 2016*

### Section 2

### Case 3 Developing a Common Compilation System for External Statistics in West Africa

### Context and approach
- Beneficiary countries: Benin, Burkina Faso, Cote d'Ivoire, Guinea Bissau, Mali, Niger, Senegal, Togo (WAEMU member countries).
- Problem statement: As one of the world’s longest-standing monetary unions, the West African Economic and Monetary Union (WAEMU) requires consolidated statistics to make policy decisions for its eight member countries.
- Timing and inputs:
  - Placement of a resident statistical advisor at the Central Bank of West African States (BCEAO).
  - Topical focus: External Sector Statistics.
  - Period: 1996-99.
  - Funded by the Government of Japan.
- Technical objective: Assist the BCEAO to develop an improved common compilation system for external statistics for WAEMU members on the occasion of the transition to the fifth edition of the Balance of Payments Manual (BPM5).

### Outcomes
- The common compilation system enabled all WAEMU member states to collect, compile, and disseminate balance of payments and international investment position data in compliance with the BPM5.
- The BCEAO was able to compile the same statistics for the WAEMU as a single economic territory.
- Response rates to the balance of payments questionnaires increased dramatically after questionnaires were accompanied by tables that mapped entries to the common accounting system of francophone West Africa.
- The common accounting system was later expanded to other francophone African countries.
- Increased response rates led to considerable improvements in the coverage and quality of external sector statistics.
- Future-oriented outcomes:
  - The common compilation system will serve as the basis to migrate to the sixth edition of the BPM (BPM6).
  - The system will support implementation of new statistical surveys that have emerged over the last decade (e.g., the Coordinated Direct Investment Survey and the Coordinated Portfolio Investment Survey).
  - A new Japan-financed project was launched in August 2016 to accompany the countries in these endeavors.

### Evaluation
- Relevance and impact:
  - The technical assistance (TA) provided by the resident statistics advisor was relevant and had sustained impact.
  - The common compilation system devised with the advisor’s assistance is still in place.
  - The system inspired the compilation system in the six member countries of the Economic Community of Central African States.
- Sustainability and forward utility:
  - The common compilation system enhances availability of external sector statistics (ESS) in the region and is positioned as the migration base to BPM6 and to implement new coordinated surveys.

### Success factors
- Sustained, resident presence:
  - The sustained appointment of the IMF statistics advisor at BCEAO headquarters allowed sufficient time to understand institutional and economic backgrounds and facilitated day-to-day support in implementation.
- Relevant expertise:
  - The long-term expert’s accounting background was relevant for the design of the common compilation system.

*Compiled with input from Antonio Galicia-Escotto (Balance of Payments Division, STA).*

### Section 3

### Section 3

### Financial Access Survey (FAS): evolution, outcomes, evaluation, and success factors
- Context and approach
  - Since its launch, the FAS has continuously evolved to meet the demands of users, reflect the capacity of data compilers, and capture new developments in financial services delivery.
  - Collaboration with the Bill & Melinda Gates Foundation led to the inclusion of statistics on mobile money services in 2014.
  - STA designs the survey in consultation with stakeholders, administers the database and corresponding web portal, resolves methodological challenges, and offers guidance and support to implement the survey.
- Outcomes
  - The FAS is one of the most comprehensive databases on financial inclusion, containing statistics from a wide array of financial service providers around the world.
  - The most recent version of the FAS provides policymakers and analysts with more than a decade of internationally comparable statistics on access to, and use of, formal financial services by households and firms in 189 economies.
  - Coverage of indicators is steadily increasing, even for recently emerged financial services. The database contains statistics on mobile money services for around 80 percent of all FAS reporters in Sub-Saharan Africa, although these were only launched a few years ago in many countries.
- Evaluation
  - The FAS is a relevant statistical innovation that addressed a demand to close an important data gap.
  - The FAS is an officially recognized data source for the Set of Financial Inclusion Indicators of the G-20.
  - Selected FAS indicators have been nominated to be part of the Sustainable Development Goals (SDGs) indicator framework of the UN.
  - The data are increasingly used in Financial Sector Assessment Programs of the World Bank and the IMF.
  - Sustainability is underlined by an increasing number of economies that signed the Maya declaration, committing to deliver concrete financial inclusion results to the unbanked, and requiring reliable statistics to track progress.
  - A streamlined data processing and validation system, combined with remote assistance provided to compilers, ensures that STA is efficiently hosting the FAS.
- Success factors
  - Provision of data for the FAS is voluntary, yet contributors grew from 138 in 2010 to 189 currently.
  - Expansion is due to increased interest in financial inclusion and recognition of the FAS as one of the key databases on this topic.

*Compiled with input from Peter van Oudheusden (Financial Institutions Division, STA).*

### Case 10 — Improving Real Sector Statistics in the Asian-Pacific Region, especially price statistics in Bhutan
- Coverage and timeline
  - 14 Asian and Pacific Island countries, including Bhutan.
  - Three-year project with country-specific missions and regional workshops.
  - Real Sector Statistics, 2010-13; Funded by the Government of Japan.
- Context and approach
  - Real sector statistics were considered inadequate for policy purposes and IMF surveillance in many developing countries in the Asia-Pacific region.
  - STA supported 14 Asian countries to improve the frequency and accuracy of national accounts and price statistics.
- Outcomes
  - All project countries made notable progress within a relatively short period.
  - Bhutan increased CPI coverage from capital-city only to national level, improved index compilation methods, and increased frequency from quarterly to monthly dissemination.
  - Bhutan compiled its first-ever Producer Price Index (PPI), launched in 2012.
- Evaluation
  - Capacity development was relevant and highly effective.
  - More reliable CPI data strengthened monetary policy decisions and provided a basis for more realistic adjustments to salaries and wages.
  - New PPI data will allow Bhutan to produce better measures of real GDP, informing domestic economic policy formulation and IMF surveillance dialogue.
- Success factors
  - High level of commitment of authorities and statistical compilers in Bhutan.
  - Effective combination of hands-on training workshops, regular missions, and continuous remote support and follow-up contact.

*Compiled with input from Brian Graf (Real Sector Division, STA).*

### Case 11 — Enhancing Macroeconomic Statistics and Data Dissemination in Africa (EDDI)
- Coverage and timeline
  - 25 African countries.
  - Five-year project with country-specific missions and regional workshops.
  - Multi-sector Statistics and Data Dissemination, 2010-15; Funded by the United Kingdom (DfID).
- Context and approach
  - EDDI aimed to support wide-ranging improvements in compilation and dissemination of macroeconomic statistics across 25 African countries, including several fragile states.
  - TA and training were delivered through ten modules structured around groups of countries with similar needs in macroeconomic statistics and data dissemination.
- Outcomes
  - Development of quarterly national accounts and rebasing of national accounts in several countries.
  - Compilation of international investment position statistics among all countries in the balance of payments module.
  - Increased data dissemination: publishing national summary data pages (12 countries) and advance release calendars (13 countries).
  - Project aimed for five new SDDS subscribers; only two—Mauritius and Seychelles—became new subscribers during the project.
- Evaluation
  - Mid-term evaluation in 2012 rated EDDI very favorably for relevance, efficiency, impact, sustainability, and effectiveness.
  - Improved data—particularly quarterly national accounts—became important inputs for Central Banks and Ministries of Finance.
  - An extended second phase, EDDI2, succeeded EDDI in 2015 and is a cornerstone of the IMF’s statistical capacity development strategy for two IMF area departments.
- Success factors
  - Built on previous initiatives in Africa, enabling effective project organization.
  - Module design allowed country participation when interest and need were expressed.
  - Combination of a joint opening workshop, regional training workshops, and individual country missions facilitated peer learning.
  - Most progress achieved where human resources levels and skills mix were adequate and where reforms benefited from available source data and strong political commitment.

*Compiled based on documentation by Thomas Morrison (formerly Resource Management Division, STA).*

### Case 12 — Rebasing National Accounts Statistics in East Africa
- Coverage and timeline
  - Kenya, Rwanda, Tanzania, Uganda, Malawi, Ethiopia, Eritrea.
  - TA coordinated by a regional TA center (East AFRITAC).
  - Real Sector Statistics, 2010-15; Funded by the East AFRITAC partners.
- Context and approach
  - Many African countries’ real sector statistics were based on outdated reference points.
  - East AFRITAC helped partner countries rebase GDP estimates to reflect the current structure of the economy.
- Outcomes
  - By 2014, all partner countries except Eritrea published improved and rebased national accounts, accounting for omitted activities and assigning higher weights to fast-growing industries.
  - Rebasing showed East African economies were significantly larger: Tanzania’s GDP increased by one-third, Kenya’s by a quarter, and Uganda’s by more than ten percent.
  - The four EAC countries covered by East AFRITAC—Kenya, Rwanda, Tanzania and Uganda—produced improved quarterly GDP estimates in current and constant prices.
- Evaluation
  - Improvement of national accounts statistics is relevant; UN recommends rebasing every five years to reflect the economic structure.
  - TA was effective in six out of seven East AFRITAC countries.
  - New national accounts estimates are being used to assess and inform fiscal revenue policies and forecasting and policy analysis systems for monetary policy decisions.
- Success factors
  - Authorities recognized the need to rebase GDP.
  - EAC partner states committed at the ministerial level to harmonize and update national account statistics as part of EAC monetary union work.
  - Political will translated into ownership and commitment by heads of statistics agencies and technical staff.
  - Regional approach and coordination with other CD efforts (such as EDDI) supported collective improvement.

*Compiled with input from Todor Dimitrov Todorov (Real Sector Division, STA).*

### Case 13 — Rebasing National Accounts Statistics in Zambia
- Coverage and timeline
  - Zambia.
  - TA coordinated by a regional TA center (South AFRITAC).
  - Real Sector Statistics, 2011-14; Funded by the South AFRITAC partners.
- Context and approach
  - Zambia’s national accounts were largely compiled using the 1968 SNA methodology and a 1994 economic census, an outdated benchmark.
  - IMF South AFRITAC statistics resident advisor supported design and implementation of a thorough rebasing exercise.
- Outcomes
  - Zambian authorities revised and rebased national accounts from 1994 to 2010 and expanded coverage to include previously omitted activities.
  - The 2010 benchmark fully adhered to the 2008 SNA guidelines.
  - Released in March 2014, the rebased national accounts were about 25 percent higher than measured before.
- Evaluation
  - Rebasing was highly relevant; TA was effective and had significant impact, forcing policymakers to revisit assessments of the economy (debt sustainability, money demand, inclusiveness of growth).
  - The Zambian case has demonstration effects across Africa.
  - Concern remains about sustainability: rebasing needs to become a routine (roughly 5-yearly) procedure; it is critical that statistical authorities retain staff who worked on rebasing and continue to train new staff in current methodologies.
- Success factors
  - Authorities’ commitment and public promotion of the economic census (including street posters).
  - Strong demand for better economic statistics; external critiques (e.g., Morten Jerven’s “Poor Numbers”) provided stimulus for improving national accounts.

*Compiled with input from Miguel Angelo Alves (FAD, and formerly Government Finance Division, STA) and Viera Karolova (Government Finance Division, STA).*

### Case 14 — Compiling Monthly General Government Data in Greece
- Coverage and timeline
  - Greece.
  - Multiple single-topic TA missions.
  - Government Finance Statistics, 2011-14; Funded by the European Union through a joint project with the IMF’s Fiscal Affairs Department (FAD).
- Context and approach
  - Greece’s public debt crisis was linked to faulty statistics: understatement of government deficit in 2002 and underreporting revealed in 2010.
  - In 2011-14, IMF joint FAD-STA project designed monthly fiscal reports to improve collection, compilation and dissemination of reliable monthly government finance statistics.
- Outcomes
  - IMF TA helped Greece to: (i) design new monthly fiscal reports; (ii) implement IT-supported processes to automatically collect, compile and disseminate fiscal data; (iii) ensure appropriate quality; and (iv) coordinate statistical work between the Ministry of Finance, the Bank of Greece and the Hellenic Statistical Office.
  - Starting in April 2014, Greece released monthly aggregates and detailed data on revenue, expenditure, financing, and balancing items for general government and its subsectors, as well as data on state debt including arrears and state guarantees.
  - Statistics follow internationally accepted methodology and are published after a maximum of 30 days after the reporting period, following an online publication calendar.
- Evaluation
  - Reliable monthly government finance statistics are highly relevant for Greece to monitor budgets timely, assess fiscal performance under the financial assistance program, and restore market confidence.
  - The TA program was effective; resulting monthly fiscal data are considered the most comprehensive, high-frequency data available in Greece.
  - Work is ongoing to further improve these data to benefit authorities and support the country’s financial assistance program.
- Success factors
  - Close cooperation between STA and FAD ensured STA’s work was embedded in other fiscal reforms underlying the financial assistance program.
  - STA coordinated with Eurostat and interacted with other partners of the financial assistance program (European Commission, European Central Bank) to set priorities.

*Compiled with input from Zia Abbasi (Real Sector Division, STA).*

*25 Years of IMF Capacity Development in Statistics — Section 3.*

### Section 4

### Section 4 — Case Studies of IMF Statistical Capacity Development (2011–15)

### Increasing GDDS Participation in Asia, the Pacific, Middle East and Central Asia (Case 15)
- Scope and funding:
  - Targeted countries: seven Pacific Island countries (Marshall Islands, Federated States of Micronesia, Palau, Papua New Guinea, Samoa, Tuvalu, and Cook Islands), Lao PDR, Myanmar, Timor-Leste, Iran, Turkmenistan, and Uzbekistan.
  - Four-year project with country-specific missions and regional workshops.
  - Thematic focus: Data Dissemination.
  - Timeframe: 2011-15.
  - Funded by the Government of Japan.
- Context and approach:
  - The IMF’s two-tiered initiative (SDDS and GDDS/e-GDDS) guides member countries on timely and comprehensive data dissemination.
  - By 2011, 90 percent of IMF member countries had started to participate in one of the initiatives.
  - The project aimed to close the gap for 13 targeted countries in Asia, the Pacific, the Middle East and Central Asia.
- Outcomes:
  - By the end of the project, ten of the 13 project countries were participating in the GDDS as intended.
  - Lao PDR, Turkmenistan and Uzbekistan had not yet committed to disseminate their data to the public by the end of the project.
- Evaluation:
  - Increasing GDDS/e-GDDS participation is a relevant step toward promoting data dissemination and obtaining more reliable, accurate and timely data from as many countries as possible.
  - To become a GDDS participant, a country develops metadata reflecting current compilation and dissemination practices and drafts plans for improvements.
  - Metadata have not always been updated in some targeted countries, indicating scope for more consistent updates to ensure sustainability.
- Success factors:
  - Commitment of national authorities was crucial to bring countries into the GDDS.
  - STA’s rapport with national statistical authorities in the Pacific induced early GDDS commitments.
  - Collaboration with the Secretariat of the Pacific Community generated synergies with ongoing capacity development activities.

### Enhancing the Monthly Index of Economic Activity in Guatemala (Case 16)
- Scope and funding:
  - Country: Guatemala.
  - TA delivered by CAPTAC-DR (regional TA center).
  - Thematic focus: Real Sector Statistics.
  - Timeframe: 2011-13.
  - Funded by the CAPTAC-DR partners.
- Context and approach:
  - In the absence of quarterly GDP estimates, the Central Bank of Guatemala compiled a Monthly Index of Economic Activity (MIEA) to monitor short-term changes.
  - The existing MIEA failed to track the 2008 crisis, prompting a request for support to enhance coverage, methodology, and usability.
- Outcomes:
  - Within one year, collaboration between CAPTAC-DR experts and Guatemalan technical staff produced an improved MIEA.
  - An optimized, automatic calculation enabled authorities to have a GDP-related monthly indicator within five weeks from the reference month.
  - The redesigned MIEA clearly shows the 2008 crisis and correlates well with currently available quarterly GDP.
- Evaluation:
  - Since introduction to the Guatemalan Monetary Board in the third-quarter of 2013, the new MIEA became a relevant instrument to monitor short-term economic developments and to inform policy decisions.
  - The MIEA is presented to the Board every month with a lag of 35 days, published for users with a short explanatory note, and closely followed by the press.
  - Established technical capacity and expertise gained during development led to a sustainable product.
- Success factors and implementation challenges:
  - Challenges included limited human and financial resources, competing priorities, lack of source data for some components, and long lags of some data sources.
  - Authorities’ commitment, motivated staff, methodological work to exploit all possible sources, and close collaboration with data-providing agencies and internal departments enabled rapid achievement.

### Producing and Improving External Sector Statistics in Asia and the Pacific (Case 17)
- Scope and funding:
  - Beneficiary countries: eight Asian countries (Bangladesh, Bhutan, Cambodia, Maldives, Mongolia, Nepal, Sri Lanka, and Vietnam) and twelve Pacific region countries (Fiji, Kiribati, Marshall Islands, Micronesia, Palau, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu, and Vanuatu). Lao PDR and Myanmar participated in workshops for the Asian module.
  - Three-year project with country-specific missions and regional workshops.
  - Thematic focus: External Sector Statistics.
  - Timeframe: 2012-15.
  - Funded by the Government of Japan.
- Context and approach:
  - Many countries in the region did not report adequate external sector statistics (ESS) to the IMF, hampering assessment of external situation and related risks.
  - STA launched the project to increase availability, accuracy, and timeliness of ESS.
- Outcomes:
  - By the end of 2015, the ESS of the majority of beneficiary countries had significantly improved.
  - Seventeen of the twenty beneficiary countries now report ESS according to BPM6 (sixth edition of the Balance of Payments and International Investment Position Manual).
  - For some countries, it was the first time that balance of payments and IIP were compiled and reported to STA, or that external debt statistics were compiled and reported to the World Bank.
  - Reported data are published in the IMF’s International Finance Statistics (IFS) and Balance of Payments Statistics Yearbook (data.imf.org), and in the World Bank’s Quarterly External Debt Statistics database (http://datatopics.worldbank.org/debt/qeds).
- Evaluation:
  - The TA was relevant because ESS were previously lacking for sound economic decision-making and hampered IMF surveillance.
  - Improved availability of ESS indicators enables better understanding of vulnerabilities to external factors, such as climate change or reliance on external financial support.
  - The project was effective and largely achieved its objectives within the planned timeframe.
  - By the end of the project, 19 out of 20 countries produced reliable, comparable and timely ESS and provided them to the IMF.
  - Continued dedication of sufficient human resources is needed to ensure sustainability of improvements.
- Success factors:
  - Strong engagement of national authorities correlated with more pronounced improvements.
  - Collaboration with IMF’s Asia and Pacific Department (APD) country teams and resident representatives fostered authorities’ buy-in.
  - STA–APD cooperation to identify data gaps, define priorities, and assess outcomes was key.

### Reforming Public Sector Statistics in Asian and Pacific Countries, Especially Indonesia (Case 18)
- Scope and funding:
  - Participating countries: 28 Asian and Pacific countries, including Indonesia (Asian participants: Bangladesh, Bhutan, Cambodia, India, Indonesia, Lao PDR, Malaysia, Maldives, Myanmar, Nepal, the Philippines, Sri Lanka, Thailand, and Vietnam; Pacific Island participants listed in source).
  - Three-year project with country-specific TA missions, country-specific and regional training missions, and continuous remote consultations.
  - Thematic focus: Government Finance Statistics (GFS).
  - Timeframe: 2012-15.
  - Funded by the Government of Japan.
- Context and approach:
  - STA supported Indonesia to strengthen fiscal statistics in line with GFSM 2001.
  - The project was part of broader public financial management reforms, including overhaul of the chart of accounts and implementation of GFS in central and local government IT systems.
- Outcomes:
  - Indonesia implemented an integrated financial management information system bridged to GFS classifications, enabling compilation of more comprehensive and reliable data.
  - By 2015, coverage of annual GFS expanded from central government to general government (including 33 provinces and 505 local governments and municipalities).
  - By end-2015 Indonesia reported, for the first time, quarterly general government GFS.
  - Indonesia eliminated the discrepancy between deficit/surplus and financing data and reported a functional classification of expenditure.
- Evaluation:
  - GFSM implementation was highly relevant for Indonesia and supported compliance with G-20 Data Gaps Initiative recommendations.
  - The project was highly effective at reaching objectives; improved reliability, granularity and periodicity aided policy makers and the public in identifying and monitoring fiscal risks.
  - At the authorities’ request, capacity development activities in Indonesia were extended to continue through 2018 to deepen the GFS system, increase the pace of development and widen use of GFS data for fiscal analysis and policy making.
  - Continued activities will help sustainably strengthen financial accountability and transparency of government at all levels.
- Success factors:
  - A Ministerial Decree to reform public sector statistics to comply with G-20 Data Gaps Initiative recommendations was a major contributing factor.
  - Transition to GFSM coincided with chart of accounts reform, creating synergies with necessary IT system reforms.
  - Continuity of engagement between IMF and Indonesian authorities, with the same people involved over the project’s duration, supported success.

### Bringing Sri Lanka’s Statistics to Comply with SDDS Requirements (Case 19)
- Scope and funding:
  - Participating countries in the regional project included Bangladesh, Bhutan, Brunei Darussalam, Cambodia, Mongolia, Myanmar, Nepal, Papua New Guinea, Samoa, Sri Lanka, Timor-Leste, and Vietnam.
  - Diagnostic mission, TA and training delivered through a regional project to enhance data dissemination in the Asia and Pacific region.
  - Timeframe: 2012-15.
  - Funded by the Government of Japan.
- Context and approach:
  - Following the end of civil war in 2009, Sri Lanka sought to improve social, economic and institutional outcomes and requested STA assessment against SDDS requirements in 2012.
  - Assessment found nine data categories needed improvement on coverage, periodicity and timeliness.
  - STA engaged a regional statistical project manager to coordinate TA and training to help move countries toward SDDS subscription.
- Outcomes:
  - Sri Lanka closed gaps in the nine data categories: produced new statistics on producer prices, central government-guaranteed debt, official reserves assets components and the reserve data template; improved timeliness of central government debt, central bank assets and official reserve assets.
  - In November 2015, Sri Lanka became the IMF’s 74th SDDS subscriber.
- Evaluation:
  - Supporting Sri Lanka’s SDDS subscription was relevant to the authorities’ request to improve quality and dissemination of macroeconomic statistics.
  - The regional capacity development was effective and efficient; Sri Lanka advanced from e-GDDS to SDDS within the envisaged three years.
  - Observance of higher data dissemination standards commits Sri Lanka to improved coverage, periodicity and timeliness—typically associated with better access to, and lower borrowing costs in, international financial markets.
  - Improvements are likely to be sustainable, as experience of other SDDS subscribers suggests.
- Success factors:
  - Prior TA in topical areas had led to improvements that the project could build on.
  - High SDDS standards and need to build technical capacity slowed initial progress, but formulation of an action plan and steady engagement with the regional project manager accelerated progress.
  - Placement of a regional project manager facilitated day-to-day dialogue and timely resolution of issues among Sri Lankan agencies and STA.

### Compiling Monetary Statistics and Financial Soundness Indicators in South Sudan (Case 20)
- Scope and funding:
  - Country: South Sudan.
  - Multiple missions and placement of a resident monetary and financial statistics advisor.
  - Thematic focus: Financial Institutions (monetary and financial statistics, and financial soundness indicators).
  - Timeframe: 2012-15.
  - Funded by the South Sudan Trust Fund (European Union, Norway, United Kingdom).
- Context and approach:
  - South Sudan became an independent state in July 2011 and joined the IMF in April 2012.
  - Prior to July 2011, the Bank of South Sudan (BSS) operated as a branch of the Central Bank of Sudan and was not involved in statistics compilation activities; statistical capacity of the new central bank was extremely weak.
  - STA fielded TA missions and appointed a resident MFS advisor to assist BSS to build capacity for production and dissemination of MFS and FSIs in line with internationally accepted methodologies.
  - TA included training in methodology and compilation practices for BSS staff and commercial banks.
- Outcomes:
  - With STA TA, a framework was developed for collecting and compiling monetary statistics for the central bank and the other depository corporations (ODCs) based on the IMF's MFS Manual.

*25 Years of IMF Capacity Development in Statistics — Section 4.*

### Section 5

### Section 5

### South Sudan — Monetary and Financial Statistics (MFS) and Financial Soundness Indicators (FSIs)
- Framework components include spreadsheets with source data tables, bridge tables, the IMF's standardized report forms (SRFs) and surveys for the BSS and ODCs, and for monetary aggregates, which the BSS uses to compile and report MFS to the IMF’s African Department (AFR) for surveillance purposes and to STA for publication in the IMF's International Financial Statistics (IFS) (data.imf.org).
- A country page for South Sudan, which also includes data for interest rates, exchange rates, and consumer prices, was introduced in the November 2013 issue of IFS.
- FSI data are compiled and reported to AFR for surveillance purposes; however, the FSIs are not disseminated publicly.
- Evaluation: TA provided to South Sudan was relevant and effective in producing data to support monetary policy decisions and assess financial stability; the BSS uses the data in performing its functions and publishes them in its Monthly Statistical Bulletin.
- Success factors:
  - TA structured in three parts: on-the-job training of BSS data compilers by the advisor on an on-going basis; bilateral meetings between BSS staff and bank compilers on a regular basis; and bi-annual training workshops for BSS compilers and bank compilers on MFS and FSI methodologies.
  - Authorities designated more staff to work on statistics.
  - Regular meetings between the advisor and BSS management ensured timely implementation of key TA recommendations.

### Case 21 — Developing Quarterly National Accounts in Montenegro
- Coverage: Nine Eastern European countries including Albania, Belarus, Bosnia and Herzegovina, Kosovo, FYR of Macedonia, Moldova, Montenegro, Serbia, and Ukraine.
- Timeline and approach: Two-year placement of resident real sector advisors in the region, two-year follow-up project with country-specific missions and regional workshops; STA placed three resident real sector advisors in the first two years and provided TA from headquarters thereafter.
- Outcomes:
  - Statistical Office of Montenegro improved compilation system for annual national accounts and established a compilation system for quarterly national accounts.
  - The first quarterly GDP estimates on an expenditure basis were released in 2015.
  - Montenegro’s statistics are now deemed broadly adequate for surveillance by the IMF.
- Evaluation:
  - Improvements were relevant for Montenegro’s EU accession process (acquis communautaire 2013, chapter 18) opened in 2014.
  - TA was effective, reaching objectives within planned budget and timeframe.
  - Given authorities’ commitment to further improve macroeconomic statistics in line with EU accession requirements, outcomes are likely to be sustained.
- Success factors:
  - Development of concrete objectives and work plans with each country during the first phase ensured alignment and commitment.
  - Political commitment fostered by EU accession prospects, particularly for Montenegro.

### Case 22 — Introducing a Template on Government Revenues from Natural Resources
- Coverage: Member countries of the Extractive Industries Transparency Initiative (EITI).
- Timeline and approach: Template development and remote TA; Government Finance Statistics; 2012-16; funded by the Managing Natural Resource Wealth Topical Trust Fund (MNRW-TTF).
- Context: FAD requested STA guidance on a template for compiling natural resource revenues; EITI Secretariat requested STA assistance to present revenue data in a comparable format.
- Outcomes:
  - STA designed and field-tested a standard revenue template (consistent with the 2014 GFSM) jointly with the EITI Secretariat.
  - IMF staff worked with compilers in Indonesia, Kazakhstan, Mongolia, Norway, Peru, and Zambia to implement templates; offered multiple training events and ongoing remote assistance.
  - The EITI resource transparency standard is currently being implemented in 49 countries, more than 30 of which have already started to submit their revenue templates to the organization; the standard revenue template has de facto become an international standard.
- Evaluation:
  - Template is a relevant innovation enabling extensive disclosure of government revenues from the natural resource sector and supporting analytical comparability for governments, IMF departments, and the EITI.
  - Template featured in the Natural Resources Fiscal Transparency Guide of the Fiscal Affairs Department and a course by the IMF’s Institute for Capacity Development.
- Success factors:
  - Close cooperation between the IMF and the EITI and extensive outreach within and outside the IMF.
  - EITI helped streamline the template, express revenue categories in terms familiar to extractive enterprises, select pilot countries, enforce implementation on members, and direct questions to STA for remote assistance.
- Funding partners noted: Australia, European Commission, Kuwait, Netherlands, Norway, Oman, Switzerland (SECO).

### Case 23 — Implementing e-GDDS Using the Open Data Platform for Africa (ODP)
- Coverage: Botswana, Lesotho, Namibia, Nigeria, Zambia.
- Timeline and approach: Country-specific TA and training; Data Dissemination; 2013-current; funded by the United Kingdom (DfID) and the African Development Bank (AfDB).
- Context and approach:
  - With implementation of the enhanced General Data Dissemination System (e-GDDS) in 2015, STA merged data collection with capacity development in dissemination technology.
  - STA supported compilation of data in line with e-GDDS standards and implementation of a web-based National Summary Data Page (NSDP) using the Open Data Platform for Africa (ODP), a cloud-based dissemination technology developed with AfDB.
- Outcomes:
  - By July 2016, five African countries adopted ODPs for publishing their NSDPs, improving public access to timely macroeconomic and financial statistics.
  - ODPs allow STA to automatically retrieve data using SDMX standards and re-disseminate through the IFS (data.imf.org) and provide data to IMF area department teams for surveillance.
- Evaluation:
  - Implementing e-GDDS on the basis of ODP is relevant for African data-producing agencies; cloud-based technology reduces reporting burden and encourages data transparency.
  - Direct impact for IMF area departments via more efficient access to timely data.
  - Other international organizations are showing interest in integrating with ODP, which would further reduce reporting burden.
  - As e-GDDS provides a roadmap to SDDS and SDDS Plus, improvements are likely sustainable; STA will closely monitor dissemination practices and report performance to national e-GDDS coordinators and the IMF’s Executive Board.
- Success factors:
  - Cooperation with AfDB to re-use existing ODP technology.
  - Cooperation with IMF area departments to focus on data relevant for surveillance purposes.

### Case 24 — Building Statistical Capacity in Palau
- Coverage: Palau (population less than 20,000 inhabitants).
- Timeline and approach: TA and training delivered through two overlapping multi-country projects and experts based in PFTAC; 2012-15; funded by the Government of Japan and PFTAC partners (Asian Development Bank, Australia, the European Union, Korea, and New Zealand).
- Outcomes:
  - In 2015, Palauan authorities compiled their first full suite of macroeconomic statistics; results aligned with estimates previously produced by foreign consultants.
  - Palau now uses domestically compiled data for policy analysis and forecasting, and has started to report data to the IMF for surveillance.
- Evaluation:
  - Capacity development was highly relevant, delivered efficiently and effectively within the proposed time frame.
  - Results immediately visible; country now compiles, uses, and disseminates its own data.
  - Although remote support is still needed, impact is likely to be sustainable: processes documented and several staff trained.
- Success factors:
  - Pragmatic, cross-project collaboration by IMF staff and experts to minimize overlaps and create synergies; fitting objectives to basic needs of authorities.
  - Ongoing remote support to answer questions and cross-check data; minimized changes among staff and experts.
  - Palauan authorities increased resourcing of statistical compilers and responded in a timely manner to recommendations.

### Case 25 — Reinitiating Consumer Price Indices (CPI) in Lebanon
- Coverage: Lebanon.
- Timeline and approach: Multiple single-topic missions; Real Sector Statistics; 2013-16; funded by the IMF.
- Context:
  - In 2013 Lebanon stopped publishing its CPI for five months, affecting policymaking and IMF surveillance dialogue.
  - STA noted methodological shortcomings and compilation issues in its first mission; subsequent TA and training missions addressed these.
- Outcomes:
  - Revised and improved CPI released in March 2014.
  - Key improvements: updated index calculation methods; increased frequency of rent data collection from annual to monthly; updated and expanded outlet sample; improved price collection methods; compilation and dissemination of detailed regional indexes.
  - STA supported the statistical office to produce and disseminate more detailed sub-indices for specific user needs, notably education and fuel.
- Evaluation:
  - TA was relevant and effective in reinitiating and revising the CPI, significantly supporting monetary policy decisions and IMF policy dialogue.
  - Improved data enhanced the credibility of the national statistical office; the CPI is now accepted as the official measure of inflation for Lebanon.
  - Capacity development sustainable: dedicated team has compiled the CPI on a monthly basis since 2014.
- Success factors:
  - Strong agreement between the authorities and IMF area department on the need for STA TA.
  - Authorities demonstrated commitment, enabling quick progress and lasting results after missions.

### Case 26 — Improving External Sector Statistics in Azerbaijan, Kyrgyz Republic, and Tajikistan
- Coverage: Azerbaijan, Kyrgyz Republic, Tajikistan.
- Timeline and approach: Twenty-month project with country-specific missions and regional workshops; External Sector Statistics; 2014-16; funded by Switzerland (SECO).
- Outcomes:
  - All three countries made progress; Tajikistan stands out:
    - Prior to the project, Tajikistan produced only annual balance of payments (BOP) statistics; now reports quarterly BOP and international investment position (IIP) data to the IMF and quarterly external debt statistics to the World Bank.
    - Tajik National Bank back-cast statistics to provide consistent time series.
  - Kyrgyz Republic achieved similar outcomes starting from a more advanced level.
  - Azerbaijan made important strides and is working towards disseminating new statistical products developed during the project.
- Evaluation:
  - Countries were selected to close remaining ESS gaps in Central Asia.
  - Measurable outcomes achieved mid-project, indicating efficiency and effectiveness.
  - New statistics help countries understand economic interconnectedness and vulnerabilities (e.g., to a drop in oil and gas prices), supporting policy formulation and monitoring.

*Source: 25 Years of IMF Capacity Development in Statistics, Section 5, IMF.*

### Section 6

### Section 6: GETTING RESULTS IN MACROECONOMIC STATISTICS — Featured Cases

### Regional engagement and sustainability
- STA will continue to engage with countries at regular intervals to cement project achievements and help implement more improvements in the medium-term (such as launching large-scale surveys for collecting source data); it is very likely that the progress will be sustainable.
- Success factors for regional projects:
  - Regional approach with historically and linguistically similar countries fostered peer-learning.
  - Regional workshops and an opening workshop consolidated authorities’ views and expectations.
  - Use of experts assigned based on economic and linguistic background supported compilers throughout projects.
  - Close cooperation with source data providers (statistical agencies and Ministries of Finance) fostered inter-agency collaboration.

### Case 27 — Harmonizing Government Finance Statistics in the East African Community (Kenya, Uganda, Tanzania, Rwanda, Burundi)
- Context and approach:
  - 2013: five partner states of the East African Community (EAC) signed a Protocol preparing for a monetary union requiring reliable and comparable data.
  - The IMF regional TA center for East Africa (East AFRITAC) supported partner states to increase coverage, comprehensiveness, and comparability of government finance statistics (GFS) across the five countries.
- Outcomes:
  - Within just two years, partner states largely harmonized their GFS through alignment with the most recent GFS Manual (GFSM 2014).
  - All countries now compile statistics for the general government sector (including extra-budgetary units, social security funds, and local governments in addition to the budgetary central government).
  - Further work on debt, accrual accounting, and public-private partnerships is under development and will be extended as issues arise.
- Evaluation:
  - Harmonization is highly relevant in preparation for a monetary union and was explicitly requested by the EAC Secretariat.
  - EAC Secretariat can better monitor partner states’ readiness for monetary union and conduct effective fiscal and monetary policies once the union is established.
  - Many harmonized statistics are now reported to the IMF and the World Bank and are disseminated nationally.
  - Improvements in timeliness, frequency and coverage provide a better basis for analyses, surveillance and policy advice to the region.
  - Project was delivered effectively and efficiently, reaching objectives within just two years.
- Success factors:
  - Local ownership and control through project design: country visits to form technical working groups (ministries of finance, central banks, statistics bureaus).
  - Assistance to each country to develop fiscal and debt statistics development plans, which were adopted.
  - Peer sharing and learning in regional workshops and continuous engagement accelerated learning and supported sustainability.

### Case 28 — Implementing the Government Finance Statistics Manual in Paraguay
- Context and approach:
  - 2014: Paraguay’s new Minister of Finance asked the IMF to review GFS compilation to modernize methodology.
  - Paraguay agreed to adopt the IMF’s GFS standard under GFSM 2014 and compiled and disseminated the first GFSM-based statistics.
- Outcomes:
  - Paraguay first disseminated GFSM2014-compliant government finance statistics to the public in April 2015.
- Evaluation:
  - Mission was highly relevant, efficient and effective, achieving its aim in only two weeks.
  - Paraguay compiled GFSM-based government sector statistics for reporting to the IMF and for internal use and public dissemination.
  - Transition influenced fiscal policy decisions because Paraguay has a legal limit on the government deficit and GFSM definitions deviate from Paraguay’s previous definition.
- Success factors:
  - High level of ownership by the Minister of Finance ensured inter-department cooperation.
  - Mission built on two preceding missions that identified issues and developed recommendations.

### Case 29 — Improving External Sector Statistics in Bolivia
- Context and approach:
  - Bolivia made progress toward full subscription to the Special Data Dissemination Standard (SDDS).
  - IMF Article IV consultation recommended enhanced classification of units by institutional sector and classification of external assets and liabilities by functional categories and instruments.
  - STA ran an 18-month project during 2015-16 to implement recommendations and move toward BPM6 adoption.
- Outcomes:
  - As of August 2016, Bolivia made good progress to improve institutional sector classifications and treatment of financial transactions in balance of payments statistics.
  - Bolivia is on its way to fully adopt BPM6 methodology by the end of the project.
  - With STA TA, Bolivia implemented the data template on foreign reserves and international currency liquidity, a required component for SDDS subscribers; Bolivia aspires to SDDS subscriber status.
  - A launch event was planned by the authorities in late-2016 to officially present new BPM6-based statistics to users.
- Evaluation:
  - Capacity development was relevant and helped authorities improve external sector statistics in line with SDDS aspirations.
  - Improved statistics will inform economic policymaking and analysis of Bolivia’s relations with the rest of the world.
  - BPM6-based data can be re-disseminated more rapidly through the IMF, increasing data timeliness for users of the IMF’s data platform.
  - Project was conducted efficiently with a limited budget and effective short-term support.
- Success factors:
  - Strong commitment from senior Central Bank staff took ownership, including plans for an official launch of new statistics.
  - Benefit from an experienced expert with a Latin American background and groundwork from previous diagnostic missions.

### Case 30 — Compiling Financial Soundness Indicators in Africa, Asia and the Pacific
- Context and approach:
  - 2001: IMF endorsed a list of Financial Soundness Indicators (FSIs).
  - Post-2008 financial crisis and G-20 Data Gap Initiative recommendations, STA launched a three-year project (later extended to four years) to promote FSI compilation and dissemination across 48 selected countries in Africa, Asia and the Pacific.
  - Project period: 2013-17; funded by the Government of Japan.
- Outcomes:
  - As of April 2016, 20 of the 48 project countries started to report FSIs to the IMF, providing an average of over 11 out of the 12 core indicators.
  - By July 2016, another five countries had provided their FSI data to STA.
  - Most of the remaining 23 countries agreed to disseminate their FSIs by April 2017.
- Evaluation:
  - Project effective at enhancing compilation and dissemination of FSIs; reliable and comparable financial sector information is particularly relevant since the 2008 global financial crisis.
  - Project countries have begun to include FSIs in macro-prudential policies, stress-testing and financial stability frameworks:
    - Botswana: FSIs help identify “abnormal areas that may need attention by policymakers.”
    - Malawi: FSIs used for stress-testing and off-site supervision.
    - Namibia: FSIs constitute inputs for the annual Financial Stability Report.
    - Sudan: FSIs feed into early warning systems.
  - Regular compilation of FSIs increases likelihood that know-how is retained, supporting project sustainability.
- Success factors:
  - Country authorities’ buy-in and ownership of pre-agreed action plans are critical to progress differences across countries.
  - Operationally successful mix of regional workshops, remotely provided TA and in-country missions.
  - Hands-on regional workshops emphasized peer learning and were particularly conducive to achieving objectives.

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_Source: https://www.imf.org/-/media/files/capacity-developement/d4d/25-years-of-sta.pdf_