## D4D Progress Report and Work Plan

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### Executive Summary — major outcomes and strategic decisions
- The D4D Fund enabled the IMF to play a key role in supporting capacity development (CD) for better data for decision-making across low- and lower-middle-income countries (LLMICs).
- Consolidation of IMF statistics CD under the D4D Fund produced flexibility in resource allocation and efficiency gains in CD delivery.
- The new work plan running from May 2022 to October 2023 will support about two thirds of the IMF’s externally financed headquarters-based statistics CD.
- IMF proposes a two-year, budget-neutral extension of the current phase of the D4D Fund to:
  - (i) allow a broader resumption of CD in support of medium-term projects;
  - (ii) finance two more online learning courses thanks to cost savings; and
  - (iii) continue flexible eligibility rules established by the June 2020 Steering Committee.

### Delivery, adaptation, and innovations during the pandemic
- Implementation of the FY 2022 work plan was robust through adaptation to absorptive capacity constraints and continued provision of remote CD.
- Demand shifted away from medium-term projects toward short and targeted ad hoc advisory services, which more than doubled in FY 2022.
- Nearly three-quarters of the D4D-eligible fragile states were served through the ad hoc advisory initiative.
- The IMF deepened exploration of Big Data integration for statistics compilation (example: using Google indicators to nowcast tourism trends).
- Five online courses in statistics launched; IMF adopted a blended learning approach combining independent online learning and interactive instructor-led sessions.
- Traditional surveys remain central; cooperation with the World Bank and other development partners is important.

### Financial access and gender data (FAS)
- Number of FAS reporters recovered to 166 countries in 2021.
- Mobile money reporting: out of 82 reporting jurisdictions in 2021, four newly started reporting data, including two LLMICs.
- Gender-disaggregated reporting increased from 62 in 2020 to 71 countries reporting gender-disaggregated data in 2021, including 34 LLMICs.
- Reporting on mobile and internet banking: out of 91 reporters in 2021, eight newly started reporting data, including five LLMICs.
- Reporting by FCS remained strong: 26 countries reporting data in 2021, covering close to two thirds of fragile states.
- Financial Access COVID-19 Policy Tracker downloaded over 4,000 times as of April 2022.

### Donor engagement request
- IMF seeks donors’ endorsement of:
  - the new work plan and associated budget;
  - the extension of the D4D Fund’s Phase I by two years and addition of two more online learning courses; and
  - continuation of flexible eligibility rules established by the June 2020 Steering Committee.

---

### Strategic directions for official statistics in the digital world
- D4D Fund is IMF’s main funding source to address data constraints in LLMICs and positions the IMF among top global providers of statistics CD.
- Pandemic effects:
  - Four in ten NSOs reported increased data collection costs as of May 2021; NSOs in LLMICs reported greatest challenges at 61 percent (PARIS21 2021 Partner Report).
  - Traditional surveys became more expensive, unreliable, and sometimes unavailable due to lockdowns.
- Shifts toward administrative data and Big Data:
  - Over four-fifths of NSOs identified expanding capacity related to administrative data as a high priority.
  - Between 2011-2019, international development finance to administrative data systems doubled while official development assistance to data and statistics remained relatively stagnant.
  - Supply-side constraints persist because lack of inter-agency coordination limits access to administrative data; Memoranda of Understanding supported by IMF STA had mixed success.
- Integrating Big Data with statistical standards:
  - STA guidance includes technical advice on scanner data for price statistics; engagement with online retailers for online prices and e-commerce platforms in CPI compilation; support for credit card information to measure cross-border travel services; use of mobile money data to estimate remittances.
  - STA developed a methodological toolkit for using Google data to develop high-frequency indicators and nowcast sectoral trends.

### Survey financing and donor coordination
- World Bank funding increases:
  - Global Data Facility funding objective: $200 million over ten years.
  - First regional statistics project for West Africa budget: $379 million.
- Many countries receiving World Bank projects also receive D4D-funded CD; intensified IMF–World Bank coordination to align survey definitions and statistical infrastructure investments.

---

### Delivery of D4D-funded CD during the pandemic — implementation summary and barriers
- Of the 196 planned CD activities for the 18-month work plan, 93 activities were implemented during the 12 months of FY 2022.
- 38 activities (including placeholders) in the FY 2022 work plan were not implemented; limited demand for medium-term projects is main reason.
- Recipient countries varied in ability to adjust to remote CD; mitigation included renting conference rooms with IT equipment when IMF and World Bank local offices could not host authorities.
- Most deferred activities were included in the new FY 2023 – FY 2024 Q2 work plan under assumption that pandemic-related constraints will ease and reflecting declared country interest.
- Short ad hoc advisory services more than doubled in FY 2022; Steering Committee approved around $300,000 for such interventions in June 2020.
- Africa region received 49 percent of CD activities; APD 24 percent; MCD 19 percent; WHD 5 percent; EUR 3 percent.
- Among 88 eligible countries, 36 are FCS countries (around 40 percent). Only four FCS did not benefit in this cycle: Eritrea, Kosovo, Myanmar, and Syrian Arab Republic.

### Financial status and utilization (exact figures)
- Steering Committee approved cumulative projected spending of $20.3 million by end-FY 2022.
- Actual cumulative spending by end-FY 2022 was $13.5 million.
- Total signed contributions remain at $31.1 million, $2 million below the target five-year program budget of $33.1 million.
- Contributions received to date amount to $27.8 million and are expected to reach $31.4 million by the end of the new work plan period (October 2023).

### Proposed work program and extension scenario (exact figures)
- Proposed work program May 2022 to October 2023 requires an additional budget of $2.1 million.
- Spending forecast:
  - $3.4 million for October 2022 – April 2023.
  - $4.3 million for May – October 2023.
- Baseline construction:
  - FY 2020 D4D Fund spending baseline: $6.5 million.
  - After adjusting baseline for inflation, projected FY 2023 spending would reach $7.8 million.
  - Assuming same level of spending in FY 2024 would leave around $2.3 million for FY 2025.
- IMF proposes extending D4D Fund by two years until June 2025.
- Assumption in expenditure forecast figure: in-person delivery of CD is 75% in FY23 and 80% in FY24.

### Efficiency gains in online learning
- STA developed online courses and translations rapidly, generating sizable cost savings.
- Efficiency gains would allow adding two more online learning courses in FY 2024; translations of those two courses would be completed in 2025.

---

### Module I — Real Sector Statistics and High-Frequency Indicators (HFI)
- Purpose: support development of robust macroeconomic statistics (real, external, fiscal) to aid early detection and monitoring of risks.
- Of 21 CD activities planned for HFI, six were delivered in FY 2022.
- Experimental Monthly Indicator of Economic Growth (MIEG) developed by STA for countries with limited absorptive capacity; examples delivered in Bhutan, Togo, and Uganda.
- National accounts benchmarking/rebasing:
  - From 33 activities in last work plan, 18 were implemented.
  - Work program focused on Step 2 (improving source data) including administrative data, redesigned household and business surveys, price statistics, and informal economy measurement.
  - STA assessing readiness for Step 3; proposed two-year extension would provide time to complete Step 4 to meet strategic log frame target of 15 countries releasing re-based GDP estimates.
- Prices CD and HFI training:
  - QNA/HFIx and CPIx blended learning courses planned for FY 2023.
  - APD workshop attracted 130 participants.
- RPPI progress:
  - From 13 RPPI activities in the work plan, five were implemented.
  - Completion of RPPI compilation in Cambodia after three years of D4D-funded engagement.
  - New work plan includes projects for Armenia, Jordan, Moldova, the Philippines, Tunisia, Uganda, and Zambia.
  - Cambodia disseminated new RPPI data series in June 2022.

### HFI country specifics and planned missions
- Experimental MIEG delivered in: Bhutan, Togo, and Uganda.
- Follow-up and planned missions: Bhutan, Uganda, Sierra Leone, Ethiopia (IPI and PPI), Angola (Purchasing Managers Index), Mauritania, Pakistan, Mongolia, Sudan.
- Placeholder capacity: 15 missions for experimental MIEG CD.

---

### External Sector Statistics (ESS) — delivery, challenges, and priorities
- From 57 activities in ESS work plan, 33 were implemented.
- May 2021 questionnaire: 27 countries responded (45 percent response rate); priority topics confirmed and new areas identified including digital trade and crypto assets.
- Training:
  - Blended remittances workshops achieved 80 percent course completion rate.
  - BOP-IIPx SPOC courses and thematic workshops planned across regions and languages.
- Country-level outcomes: multiple missions delivered improvements in reserve assets compilation, BOP/IIP coverage, external debt recording, remittances, and trade compilation across identified country list.
- Notable country statistic: in Zambia, BOP data show large unidentified outflows amounting to about 30 percent of GDP over 2020-21.
- Future priorities: continue priority on external debt; increase focus on cross-border transactions related to digitalization (crypto assets, digital trade).
- Work plan includes 20 placeholder missions for flexibility.

---

### Fiscal and Debt Reporting (GFS/PSDS) — achievements and plans
- Delivery and coverage:
  - 24 bilateral CD activities delivered in the workstream in FY 2022.
  - From 56 activities in work plan, 28 were implemented.
  - 74 D4D-eligible countries benefitted from at least one of the 70 CD activities delivered since FY 2019.
- Training reach:
  - GFSx courses (English, French, Spanish) had 376 participants from 40 D4D Fund eligible countries joining at least one virtual session.
- Country outcomes:
  - PSDS follow-up to Tunisia compiled PSDS for over 90 percent of SOEs; identified debt averaging around 45 percent of GDP over a three-year period.
  - CD to Mozambique reduced statistical discrepancy from 4 percent of GDP to 0.4 percent of GDP.
- Ad hoc demand:
  - 75 ad hoc requests from 37 countries on recording in fiscal and debt statistics.
- Future work plan:
  - The work plan has a strong focus on FCS that represent 55 percent of the planned bilateral CD activities.
  - Continuous GFSx and PSDSx courses in English, French and Spanish will continue.
  - Two specialized blended learning courses planned on SOEs and fiscal consolidation.
  - Placeholders allocated: 15 for GFS, seven placeholders for PSDS, four placeholders for SOEs missions.

---

### Module II — Financial Access Survey (FAS) detailed points
- FAS collects supply-side information annually from regulatory/supervisory institutions including central banks.
- Two FAS indicators adopted to monitor Target 8.10.1 of the 2030 Agenda for Sustainable Development; nine FAS indicators endorsed by the G20 as G20 Financial Inclusion Indicators.
- 2021 reporting highlights:
  - 166 reporters in 2021.
  - Mobile money reporting: 82 reporters in 2021, four newly started reporting (two are LLMICs).
  - Gender reporting: 71 reporters in 2021, up from 62 in 2020 (including 34 LLMICs).
  - Reporting on mobile and internet banking: 91 reporters in 2021, eight newly started reporting (five LLMICs).
  - 26 FCS reported in 2021, covering close to two thirds of fragile states.
- Improvements planned:
  - Improved validation tools including automated data visualization and outlier detection.
  - Pilot data collection with FAS compilers to test feasibility of collecting more relevant fintech and vulnerable groups data (SMEs and women).
  - Continued exploration of non-traditional data sources including Google Maps API geolocational data.
- Workshops and outreach:
  - Webinars/workshops to continue during FAS 2022 round; webinars to remain a permanent complement to face-to-face workshops.
  - Five webinars/workshops envisaged: two APD webinars (June 2022), one WHD webinar (Spanish, January 2023), one in-person workshop for Middle East and Central Asia (second half 2023), and a UNESCWA webinar on SDG indicators including FAS.

---

### Module III — Online learning curriculum and Statistical Information Management (Module 4)
- Online learning targets:
  - Develop new online curriculum covering ten fundamental statistical topical courses; translation in up to 5 languages.
  - Phasing in of online courses: one in Year 1; two in Year 2-4; three in Year 5.
  - Target: Increase reach of STA training by at least 50 percent by end of D4D Fund period.
  - Efficiency gains allowed adding two more online courses in FY 2024; translations completed in 2025.
- Module 4 budget item noted: Statistical Information Management $0.33 million (Tables 4 & 11).
- Module 4 outcomes: disseminate best practices in statistical data and metadata management, governance structures, technical standards, and project design. Pilots referenced: Kenya (2017) and planned pilots in Lebanon, Egypt and/or Tunisia.

---

### Strategic log frame highlights (Annex IV)
- Strategic objective: Assist LLMICs in strengthening national statistical systems to cope with challenging environments, promote transparency and accountability, and offer efficient CD solutions. Impact outcome: More and better data available for decision-makers and analysts to inform economic policies and SDG monitoring.
- Module-specific end-of-five-year targets (selected):
  - HFIs: supported at least 10 countries currently not producing HFIs; assisted at least 15 additional countries to strengthen HFIs.
  - National accounts rebasing/benchmarking: supported at least 15 countries in release of updated benchmark estimates of GDP.
  - RPPI: bring compilation and dissemination in line with Handbook guidelines for around one-tenth of eligible countries already with basic RPPI; increase staff capacity for one-eighth of eligible countries working on RPPI; regional workshops for four-fifths of eligible countries with no RPPI.
  - ESS: provide more accurate and comprehensive data on international trade in goods and services for at least 15 eligible countries; strengthen coverage of financial account and remittances for at least 15 eligible countries.
  - FAS targets by end of five-year period:
    - Annual response rate increased to 95 percent of IMF membership.
    - Number of jurisdictions providing gender breakdown doubled compared to 2017 benchmark.
    - Number of jurisdictions providing indicators of innovative channels of financial access increased by 50 percent compared to 2017 benchmark.
  - Online learning: rollout of ten courses with translations and certification; increase STA training reach by at least 50 percent.

---

### Operational guidance and governance (Annex V)
- Steering Committee (SC):
  - Provides strategic guidance, sets priorities, and endorses work plans, budgets, and annual reports.
  - Composition: representatives from each Contributor and the IMF; Chair and Vice-Chair elected by consensus for one-year terms with Vice-Chair becoming Chair at term end.
  - Decisions made by consensus; lapse-of-time decision-making period is 15 days when used.
  - SC meets annually in person or by videoconference; Chair may convene ad hoc meetings.
- Work plan governance:
  - Work plan distributed three weeks before SC meeting.
  - SC endorsement required for changes to objectives within a Module (Modules 2, 3, 4) and Sub-modules (Module 1) or budget changes >25 percent.
- Reporting and evaluation:
  - Annual reporting to SC; Technical Assistance Reports provided on Partners Connect.
  - Activities financed under the D4D Fund are subject to an external, independent evaluation; SC to endorse terms of reference and methodology.

---

*Source: D4D Progress Report and Work Plan, Statistics Department, IMF.*

### EXECUTIVE SUMMARY __________________________________________________________________________ 5

### EXECUTIVE SUMMARY

### Major outcomes and strategic decisions
- The D4D Fund enabled the IMF to play a key role in supporting capacity development (CD) for better data for decision-making across low- and lower-middle-income countries (LLMICs).
- The consolidation of IMF statistics CD under the D4D Fund produced flexibility in resource allocation and efficiency gains in CD delivery.
- The new work plan running from May 2022 to October 2023 will support about two thirds of the IMF’s externally financed headquarters-based statistics CD.
- The IMF proposes a two-year, budget-neutral extension of the current phase of the D4D Fund to (i) allow a broader resumption of CD in support of medium-term projects, (ii) finance two more online learning courses thanks to cost savings, and (iii) continue flexible eligibility rules established by the June 2020 Steering Committee.

### Delivery, adaptation, and innovations during the pandemic
- Implementation of the FY 2022 work plan was robust due to adaptation to absorptive capacity constraints and continued provision of remote CD.
- Demand shifted away from medium-term projects toward short and targeted ad hoc advisory services, which more than doubled in FY 2022.
- Nearly three-quarters of the D4D-eligible fragile states were served through the ad hoc advisory initiative.
- The IMF deepened exploration of Big Data integration for statistics compilation (for example, using Google indicators to nowcast tourism trends).
- Traditional surveys will continue to play a central role; close cooperation with the World Bank and other development partners remains important.
- Five online courses in statistics have already been launched; the IMF adopted a blended learning approach combining independent online learning and interactive instructor-led sessions.

### Financial access and gender data
- The Financial Access Survey (FAS) saw a strong recovery in country reporting rates after the drop in FY 2021.
- The IMF integrated more gender-disaggregated data in the FAS in cooperation with the United Nations.
- With rising poverty and inequality rates, the FAS is well positioned to provide data to guide policies to enhance access to financial services.

### Donor engagement request
- The IMF seeks donors’ endorsement of:
  - the new work plan and associated budget;
  - the extension of the D4D Fund’s Phase I by two years and addition of two more online learning courses; and
  - the continuation of flexible eligibility rules established by the June 2020 Steering Committee.

*Source: D4D Progress Report and Work Plan (Executive Summary), IMF.*

---

### I. STRATEGIC DIRECTIONS FOR OFFICIAL STATISTICS IN THE DIGITAL WORLD

### Role and positioning of the D4D Fund
- The D4D Fund is the IMF’s main funding source to address data constraints in LLMICs and positions the IMF among top global providers of statistics CD.
- The consolidation under the D4D Fund enabled more flexible resource allocation and efficiency gains.

### Pandemic-driven constraints and priorities
- The COVID-19 pandemic made absorptive capacity unpredictable and increased demand for urgent, targeted CD to respond to disruptions in statistical operations.
- Traditional data sources such as surveys became more expensive, unreliable, and sometimes unavailable due to lockdowns.
- PARIS21 2021 Partner Report on Support to Statistics: as of May 2021, four in ten national statistical offices (NSOs) reported that data collection costs had increased since the beginning of the pandemic, with NSOs in LLMICs reporting the greatest challenges (61 percent).

### Shifts toward administrative data and Big Data
- Over four-fifths of NSOs identified expanding capacity related to administrative data as a high priority (Survey on the Implementation of the Cape Town Global Action Plan for Sustainable Development Data).
- Between 2011-2019, international development finance to administrative data systems doubled while official development assistance to data and statistics remained relatively stagnant.
- Supply-side constraints persist because lack of inter-agency coordination limits access to administrative data; Memoranda of Understanding supported by IMF STA have had mixed success.
- Central banks in some countries led efforts to establish centralized databases for source data to improve inter-agency cooperation.

### Integrating Big Data with statistical standards
- Analytical work is needed to extract Big Data in ways consistent with international statistical standards.
- Areas with more advanced Big Data integration include satellite imagery (e.g., intensity of light to estimate activity, vessel movements to estimate trade).
- Research is intensifying in scanner, mobile phone, social media, and online platform data.
- STA guidance includes:
  - technical advice on the use of scanner data for price statistics;
  - engagement with online retailers to develop guidelines for online prices and e-commerce platforms in CPI compilation;
  - support for use of credit card information to measure cross-border travel services; and
  - use of mobile money data to estimate remittances.
- STA developed a methodological toolkit for using Google data to develop high-frequency indicators and nowcast sectoral trends (see Austin, Paul et alia: “Using the Google Places API and Google Trends Data to Develop High Frequency Indicators of Economic Activity”, IMF Working Paper No. 2021/295).

### Survey financing and donor coordination
- Surveys will remain important; World Bank funding has increased significantly:
  - The Global Data Facility has a funding objective of $200 million over ten years.
  - The first regional statistics project for West Africa covers seven ECOWAS countries with a budget of $379 million, focusing mainly on survey funding and statistical infrastructure.
- Many countries receiving World Bank projects also receive D4D-funded CD; IMF–World Bank coordination has intensified to align survey definitions and statistical infrastructure investments.
- World Bank projects’ focus on statistics infrastructure can address persistent IT obstacles that hamper absorptive capacity for data CD across IMF-supported statistical areas.

*Source: D4D Progress Report and Work Plan (Executive Summary), IMF.*

---

### II. DELIVERY OF D4D-FUNDED CAPACITY DEVELOPMENT DURING THE PANDEMIC – THEMES, ACHIEVEMENTS AND CHALLENGES

### Demand patterns and shifting priorities
- Demand for CD continued to prioritize near-term needs; multi-year CD projects with medium-term objectives (e.g., rebasing GDP) weakened since mid-2020.
- Examples of disrupted data collection:
  - Price reports used to compile the CPI became unavailable during widespread lockdowns, limiting appetite to work on new datasets such as Residential Property Price Indexes (RPPI) or High-Frequency Indicators (HFI) despite their policy relevance.
- Central banks and regulatory agencies—better resourced—recovered reporting to the Financial Access Survey in FY 2022.
- Ministries of Finance experienced very high staff turnover as crisis management was prioritized, increasing demand for training of new staff.

### Delivery modalities and outputs
- Short and targeted ad hoc advisory services experienced strong demand and more than doubled in FY 2022, particularly from African countries on government finance and debt statistics.
- Close to three-quarters of the D4D-eligible fragile states were served through the ad hoc advisory services initiative.

### Implementation barriers and consequences for CD
- Source data problems emerged as a prominent challenge across the D4D CD portfolio, constraining implementation of activities related to real and external sector statistics.
- High staff turnover in ministries and NSOs reduced capacity to pursue medium-term statistical development projects.
- These constraints necessitated increased emphasis on innovation (administrative data, Big Data) and remote delivery methods, including blended learning formats.

*Source: D4D Progress Report and Work Plan (Executive Summary), IMF.*

### 8.      CD delivery under the D4D Fund continued to be strong because it adapted to absorptive

### 8.      CD delivery under the D4D Fund continued to be strong because it adapted to absorptive capacity constraints and the conditions imposed by the pandemic, including the requirement to provide CD remotely.

### CD delivery, implementation, and adaptations
- Of the 196 planned CD activities for the 18-month work plan, 93 activities were implemented during the 12 months of FY 2022.
- 38 activities (including placeholders) in the FY 2022 work plan were not implemented; limited demand for projects with medium-term objectives is the main reason.
- Recipient countries varied in ability to adjust to remote CD:
  - Some countries used remote delivery to spread CD over a longer period.
  - Others faced IT and connectivity issues and data confidentiality considerations that made remote CD difficult.
  - Mitigation measures included renting conference rooms with IT equipment in hotels when IMF and World Bank local offices could not host country authorities.
- Most deferred activities were included in the new FY 2023 – FY 2024 Q2 work plan under the assumption that pandemic-related constraints will ease and reflecting declared country interest.

### Types of demand and priority areas
- Short ad hoc advisory services more than doubled in FY 2022 and faced the strongest demand; used to address business-continuity challenges (e.g., revising seasonal adjustment algorithms, identifying alternative source data when surveys were unreliable).
- The Steering Committee enabled ad hoc interventions in June 2020, approving around $300,000 for such interventions.
- Demand for assistance with Public Sector Debt Statistics/Government Finance Statistics (PSDS/GFS) has been particularly strong.
- The Africa region remained the largest beneficiary of ad hoc advisory services, receiving more than half of the interventions.
- Demand from Fragile and Conflict-Affected States (FCS) was strong, with nearly three-quarters of the D4D-eligible FCS served through the ad hoc initiative.

### Coverage, eligibility, and regional distribution
- Among 88 eligible countries, 36 are FCS countries, equivalent to around 40 percent.
- Only four FCS did not benefit from D4D-funded CD in this work plan cycle: Eritrea, Kosovo, Myanmar, and Syrian Arab Republic.
- AFR received 49 percent of CD activities; APD 24 percent; MCD 19 percent; WHD 5 percent; EUR 3 percent.
- In October 2021, the Steering Committee temporarily granted D4D eligibility to six countries near the LLMIC income threshold; five expressed interest and participated in statistics CD and training workshops (Armenia, Azerbaijan, Georgia, Guatemala, Jordan).

### Financial status, utilization, and cost dynamics
- At its June 2021 meeting, the Steering Committee approved cumulative projected spending of $20.3 million by end-FY 2022.
- Actual cumulative spending by end-FY 2022 was $13.5 million.
- Total signed contributions remain at $31.1 million, $2 million below the target five-year program budget of $33.1 million.
- Contributions received to date amount to $27.8 million and are expected to reach $31.4 million by the end of the new work plan period (October 2023), based on disbursement schedules.
- Lower-than-projected utilization reflects the continued pause on travel, slower recovery of absorptive capacity, and cost savings in online course development and translations.
- FAS-related expenses remained stable except for outreach webinars, which provided savings relative to in-person workshops.

### Proposed work program, budgets, and extension scenario
- The proposed work program for May 2022 to October 2023 requires an additional budget of $2.1 million.
- Spending forecast:
  - $3.4 million for October 2022 – April 2023.
  - $4.3 million for May – October 2023.
- Budget assumptions include a gradual travel resumption, recovery of absorptive capacity, and full-fledged production of online learning courses and translations; CD activities assumed to address primarily medium-term CD objectives while continuing urgent ad hoc support.
- Proposed extension:
  - IMF proposes to the Steering Committee an extension of the D4D Fund by two years until June 2025.
  - Baseline construction: FY 2020 D4D Fund spending baseline of $6.5 million (estimated amount that would have been spent in FY 2020 absent the pandemic and after absorption of CD activities funded by bilateral donor projects).
  - After adjusting the baseline for inflation, projected FY 2023 spending would reach $7.8 million.
  - Assuming the same level of spending in FY 2024 would leave around $2.3 million for FY 2025.
  - An extension by two years would allow continued use of available resources if the strong recovery of CD demand projected for FY 2023 does not fully materialize; the IMF would re-visit the end date of the current phase in close coordination with donors if spending advances as projected.
- Assumption used in expenditure forecast figure: in-person delivery of CD is 75% in FY23 and 80% in FY24.

### Efficiency gains in online learning and implications for outputs
- STA continued developing online courses and translations at a fast pace, responding to strong demand for online training during the pandemic.
- Experience with developing and translating online courses and identifying new service providers generated sizable cost savings.
- Efficiency gains would allow adding two more online learning courses in FY 2024; translations of those two courses would be completed in 2025 (translations usually start about a year after course launch to allow time for course corrections and adjustments).

### Module I — Addressing Data Needs and Quality Concerns (Real Sector Statistics and High-Frequency Indicators)
- Module I supports development of more robust and consistent macroeconomic statistics (real, external, and fiscal sector statistics) to aid early detection and monitoring of economic risks and vulnerabilities.
- Real sector statistics continued to be impacted by the pandemic because NSOs typically prepare them; implementation pace for reforms did not recover as expected.
- CD activities on High-Frequency Indicators (HFIs) and Residential Property Price Indices were fewer than expected, but demand gradually recovered for CD on source data development for national accounts rebasing/benchmarking.
- STA developed an approach to take over operational tasks in data compilation to address limited absorptive capacity in many NSOs; under this approach STA experts:
  - developed the experimental Monthly Indicator of Economic Growth (MIEG) using source data inputs provided by the country as well as other available open data or Big Data;
  - presented the results to the NSO, the relevant policymakers, and the IMF country team; and
  - drafted a sources and methods document related to the experimental estimates, for metadata and institutional memory purposes.
- Once pandemic pressures ease, lead responsibility for compiling the MIEG will shift back to NSO staff to achieve a sustainable CD outcome; experimental estimates can inform fiscal and monetary policy and support Fund surveillance and program negotiations.
- Outreach and demand-building:
  - The 2022 IMF/World Bank Spring Meetings introduced the MIEG product to country delegations.
  - Interest in nowcasting models in many LLMICs offers openings for HFI work and increased recipient-country interest for such activities in FY 2023.
- HFI and nowcasting synergies:
  - HFIs (e.g., IPIs, MIEG, composite leading/sentiment indicators) provide inputs for timelier, higher-frequency GDP compilation and nowcasting.
  - STA is working to develop methodologies to facilitate use of non-traditional data sources or Big Data (examples: flight data as a tourism proxy; vessel traffic to estimate merchandise trade; collaboration with private companies like Google).
  - STA uses a two-stage approach: (i) assist economies to develop HFIs (collect/process/analyze data; apply statistical techniques), and (ii) train authorities to integrate indicators into nowcasting procedures.

*IMF — D4D Fund Progress Report and Work Plan*

### 22.      Looking at the results achieved in FY 2022, the link to nowcasting work was critical for

### d4d-progress-report-and-work-plan - 22.      Looking at the results achieved in FY 2022, the link to nowcasting work was critical for

### Nowcasting and Training Participation
- Nowcasting work was critical for attracting participants to training workshops for AFR and APD regions.
- Participants from central banks and ministries of finance were mainly motivated by the value added of the training for ongoing nowcasting projects.
- Close coordination with regional training centers with strong networks among country authorities helped raise awareness for this CD product.
- Launch of online courses planned during FY 2023:
  - Quarterly national accounts statistics/high-frequency indicators (QNA/HFIx).
  - Consumer price indices (CPIx).
- QNA/HFIx blended learning course will combine asynchronous online learning with synchronous classroom-type interfaces.
- Recent experience shows blended learning courses offer major cost savings while resulting in high participation rates and learning impact.

### CD Activities on High-Frequency Indicators (HFI)
- From the 21 CD activities in the work plan, six were delivered.
- Experimental MIEG delivered in: Bhutan, Togo, and Uganda.
  - Preparations underway to facilitate knowledge transfer to NSOs once absorptive capacity exists.
- Ethiopia: CD delivered in FY 2022 but delays in collecting source data hampered delivery of new price data, essential for MIEG and GDP compilation and monetary policymaking.
- Countries of interest and status:
  - Kenya and São Tomé and Príncipe (attended FY 2022 workshops) expressed interest in individual CD missions; already reflected in previous work plan.
  - Jordan and Bangladesh remain on the work plan (absorptive capacity constraints prevented implementation in FY 2022).
  - Mongolia: planned activities reduced because implementation of past CD recommendations has been slow.
  - Sudan: CD delayed because of political turbulences but remains on the work plan despite fragility risks to implementation.
  - Follow-up missions planned for Bhutan, Togo, Uganda, and Sierra Leone to improve indicators, knowledge transfer, and data dissemination.
  - Mauritania and Pakistan are new countries expressing interest.
- Growing demand for prices CD reflecting rising concerns about inflation.
- Angola requested CD on developing a Purchasing Managers Index.

### National Accounts Benchmarking and Rebasing — Progress and Focus
- GDP rebasing with D4D Fund assistance underway in several countries; pandemic created CD delivery challenges, especially in AFR where NSOs prioritized business continuity.
- From the 33 activities in the last work plan, 18 were implemented.
- Work program focused on Step 2 (improving source data) of the four-step national accounts enhancement approach:
  - Emphasis on better use of administrative data, redesigned household and business surveys, expanded collection and processing of price statistics, and improved measurement of the informal economy.
- Example CD interventions:
  - Business registers and surveys: Afghanistan, Lesotho, Sierra Leone.
  - Comprehensive assessment of source data for re-basing/benchmarking: Kenya.
  - Memoranda of Understanding prepared to address institutional obstacles to accessing administrative data: Ethiopia, Lesotho, Malawi.
  - Source data improvements to estimate the informal sector: Vietnam.
- STA assessing benchmarking exercises against Step 2 activities to determine readiness for Step 3; proposed two-year D4D Fund extension would provide time to complete Step 4 required to meet the strategic log frame of 15 countries having released re-based GDP estimates.
- Training:
  - Two workshops in FY 2022 focused on prices and source data for re-basing/benchmarking.
  - APD workshop attracted 130 participants, benefiting from cooperation with the IMF regional training center.
- Forward priorities:
  - Source data CD to focus on survey and business register design and updates, and strengthening measures of the informal sector, which in most LLMICs accounts for far more than half of economic activity and is measured poorly.
  - New World Bank IDA19-funded statistics project for West Africa to collect source data across seven countries; close IMF–World Bank cooperation to ensure survey design suitability for rebasing/benchmarking.
  - Planned training includes a general workshop on data sources and a specialized workshop on recording digital-based activities in national accounts.
- Prices CD:
  - Included for Sri Lanka, India, Bangladesh, and Bhutan.
  - CD will benefit from CPIx launch in April 2022.
  - Only one in-person prices workshop planned, focusing on services sector producer price index (PPI).

### Residential Property Price Indexes (RPPIs)
- Residential property price statistics are critical for financial stability analysis; RPPI development helps monitor risks and vulnerabilities from property price fluctuations.
- Source data is the primary challenge for RPPI compilation; CD uses flexible approaches including Big Data techniques and web-scraping of publicly available property listings to generate source data.
- FY 2022 achievements:
  - Completion of RPPI compilation in Cambodia after three years of D4D-funded engagement.
  - From 13 CD activities in the work plan, five were implemented.
- New work plan:
  - Includes rolled-over activities and new projects for Armenia, Jordan, Moldova, the Philippines, Tunisia, Uganda, and Zambia.
  - Georgia requested follow-up CD after prior bilateral donor support led to new RPPI dissemination.
  - Three placeholder activities to allow flexibility for additional requests.
  - Planned intensification of training with two workshops focused on peer learning to address source data problems.
  - IMF requests SC approval for a new RPPI online learning course to leverage training CD.

### External Sector Statistics (ESS) — Needs, Delivery, and Training Outcomes
- ESS are crucial to assess exchange rate developments and external vulnerability; increased relevance due to supply chain interruptions, trade sanctions, and globalization.
- May 2021 questionnaire to LLMICs to identify pressing CD needs:
  - 27 countries responded (45 percent response rate).
  - Confirmed priority topics from 2020: addressing source data challenges; using enterprise financial statements and the international transaction reporting system for BOP/IIP; external debt statistics recording; compilation of remittances.
  - Identified new areas: measuring international trade in services and digital trade; recording crypto assets in ESS; compilation of informal transactions; non-financial corporation assets and liabilities.
- CD delivery and results:
  - From 57 activities in the ESS work plan, 33 were implemented.
  - ESS are mainly compiled by central banks which are on average better equipped than NSOs; crisis management needs affected absorptive capacity and some countries preferred in-person delivery.
  - Main CD topics addressed:
    - Source data problems and estimation techniques to fill data gaps from high nonresponse rates during the pandemic; alternative and administrative data sources.
    - Debt-related CD: Burkina Faso, The Gambia, Iraq, Malawi, The Philippines, São Tomé and Príncipe, Togo.
    - Estimating informal transactions and services: Chad, Djibouti, El Salvador, South Sudan, Tajikistan.
    - Compilation of goods: Central African Republic, Djibouti, El Salvador, Iraq, Malawi, Niger, South Sudan, Uzbekistan.
    - Periodicity and timeliness improvements: Burkina Faso, Chad, Mali.
    - BOP coverage improvements: Congo, Iraq, Sierra Leone.
    - Addressing inconsistency: Guinea-Bissau, The Philippines.
    - Improving source data: Liberia.
    - CDIS and Coordinated Portfolio Investment Survey: Cameroon, Central African Republic.
    - Compilation of reserves: Angola.
    - Financial account: Zambia.
  - With Bitcoin as legal tender in El Salvador, authorities requested IMF support on its statistical treatment, including in ESS.
- Training outcomes:
  - Heavy focus on external debt and remittances.
  - New blended learning techniques in three remittances workshops combined asynchronous online material with synchronous, hands-on breakout-room training.
  - Share of participants completing the workshops was 80 percent.

*D4D Progress Report and Work Plan, Statistics Department, IMF*

### 37.      Moving forward, ESS CD activity is expected to continue at a strong pace. This is consistent

### D4D Progress Report and Work Plan — External Sector Statistics and Fiscal & Debt Reporting (excerpts)

### External Sector Statistics (ESS): progress, challenges, and FY 2023–FY 2024 plans
- Findings and recent developments:
  - ESS CD activity is expected to continue at a strong pace consistent with the overall D4D Fund design, which phased in ESS gradually with bilateral donor projects to be integrated into the D4D Fund work plan over time.
  - FY 2022 work plan for West and Central African countries mainly focused on bilateral country CD; limited absorptive capacity requires more involvement of regional central banks (now part of the new work plan).
  - Most FY 2022 CD activities not implemented were rolled over to the new work plan, except:
    - Ukraine (ongoing war)
    - Afghanistan (IMF CD suspended)
    - Egypt (indicated less interest in ESS CD than originally expected)
  - With resumption of travel, discussions underway with several countries on CD priorities, to be accommodated by the 20 placeholders.
  - Training will focus on reserve asset compilation, identified as a challenge affecting external stability analysis.
  - Lessons from successful blended learning workshops in FY 2022 will feed into Balance of Payments-International Investment Position (BOP-IIPx) trainings.
  - Launch of External Debt Statistics (EDSx) in FY 2023 will allow this workstream to leverage increased training capacity.
- Work plan activity highlights (selected exact numerical items preserved):
  - BOP-IIPx SPOC courses and thematic workshops planned for Francophone AFR, Phase I countries, MCD (English), and Russian-speaking, Anglophone, and WAIFEM/MEMFI countries.
  - Planned additions and net change noted in source:
    - +1 Workshop for Anglophone Countries on Reserve assets
    - +1 Workshop for WAIFEM/MEMFI Countries on Remittances
    - +1 Workshop for MCD on BOP-IIP Compilation
    - Philippines +1
    - Zambia +1
    - Country TBD (20) +20
    - Net change +25
- Implementation status coding used in the work plan:
  - Dark green – Endorsed and conducted
  - Light green – Endorsed and planned
  - Orange – Additions or changes that need endorsement

### Fiscal and Debt Reporting (GFS/PSDS): context and demand drivers
- Macro and transparency context:
  - Fiscal transparency gained prominence as many LLMICs face limited fiscal space amid rising poverty pressures.
  - LLMICs confronted with sharply higher food and energy prices due to the war in Ukraine.
  - Public debt likely to increase due to stock-flow adjustments arising from insufficient information on quasi‑fiscal operations, buildup of arrears, and contingent liabilities, particularly from SOEs.
  - Stock-flow adjustments have in the past exceeded the contribution of the primary fiscal deficit and policy measures to debt ratios; they tend to be larger in countries with weak fiscal transparency (IMF, 2021).
- CD priorities:
  - Support expansion of institutional and instrument coverage of debt.
  - Improve internal consistency between financial and non-financial transactions and between flows and stocks in fiscal and debt statistics to better inform fiscal policymaking.

### Fiscal and Debt Reporting: progress achieved (exact figures)
- Delivery and coverage:
  - 24 bilateral CD activities delivered in the workstream.
  - One PSDS diagnostic workshop and three GFSx courses combined with live interactive sessions delivered in FY 2022.
  - 74 D4D-eligible countries benefitted from at least one of the 70 CD activities delivered since FY 2019.
  - From the 56 activities in the work plan, 28 were implemented.
- Training reach and modalities:
  - GFSx and PSDSx courses translated into French and Spanish.
  - GFSx courses (English, French and Spanish) had 376 participants from 40 D4D Fund eligible countries joining at least one of the virtual sessions.
  - Extended individual training provided to Moldova and Timor-Leste to address intense training needs and remote CD fatigue.
- Country-specific outcomes and diagnostic findings:
  - Widening coverage of PSDS achieved in several cases, including SOEs.
  - Follow-up mission to Tunisia compiled PSDS for over 90 percent of SOEs, identifying debt averaging around 45 percent of GDP over a three-year period.
  - CD to Mozambique reduced the statistical discrepancy from 4 percent of GDP to 0.4 percent of GDP; main causes identified included non-reconciliation of government deposits, incorrect computation of net credit to government, and exclusion of transactions in accounts receivable and payable.
- Demand and ad hoc requests:
  - 75 ad hoc requests from 37 countries on recording in fiscal and debt statistics.
  - Main ad hoc topics: IMF’s allocation of special drawing rights, debt transactions of SOEs, recording of privatization of SOEs, and debt coverage of SOEs in debt sustainability analysis.

### Fiscal and Debt Reporting: implementation challenges and future plan (exact figures and items)
- Capacity constraints and approach:
  - Pandemic reassignment of qualified staff to crisis management reduced absorptive capacity for complex CD projects; demand dominated by basic methodological training and hands-on support.
  - Many countries required training on basic methodological issues to preserve progress despite high staff turnover.
  - Online courses and blended learning were used to leverage training capacity and provide region‑specific hands‑on guidance.
- Forward-looking priorities and scheduling:
  - CD will continue to support authorities with training to address loss of skilled staff and further develop blended learning options.
  - Priority to enhance quality and instrument and institutional coverage of debt; several countries requested follow-up on CD delivered in FY 2021 and FY 2022.
  - Of the 12 countries that requested to postpone missions in FY 2022 or where missions could not be conducted for political/security reasons, ten expressed interest to receive CD support in FY 2023.
  - Missions initially planned to Afghanistan and Ukraine are tentatively rescheduled to FY 2024.
  - The work plan has a strong focus on FCS that represent 55 percent of the planned bilateral CD activities.
  - Continuous GFSx and PSDSx courses in English, French and Spanish will continue.
  - Training work plan includes two specialized blended learning courses focused on SOEs and fiscal consolidation.
- Updated work plan activity changes and net changes (as presented):
  - PSDS: additions include Angola +1, Burundi +1, Chad +1, Papua New Guinea +1; On-demand SOEs Missions - Country TBD (4) +4; Country TBD (6) +6; AFR SOEs Fiscal Statistics Blended Learning Course +1.
  - GFS: Country TBD (15) +15; APD Consolidation Blended Learning Course +1.
  - Net change (GFS/PSDS combined) reported as +31 for GFS and net change +? for PSDS reflected in tabulated updates (see source for the work plan table coding).

### Module II: Financial Access Survey (FAS) — progress and outreach
- Purpose and scope:
  - FAS collects supply-side information annually from regulatory/supervisory institutions including central banks; cost-efficient relative to household surveys and allows annual publication.
  - Two FAS indicators adopted to monitor Target 8.10.1 of the 2030 Agenda for Sustainable Development; nine FAS indicators endorsed by the G20 as G20 Financial Inclusion Indicators.
- Reporting and data coverage (exact figures):
  - Number of FAS reporters recovered to 166 countries in 2021 (after a drop due to the pandemic).
  - Mobile money reporting: out of 82 reporting jurisdictions in 2021, four newly started reporting data, including two LLMICs.
  - Gender-disaggregated reporting: from 62 in 2020 to 71 countries reporting gender-disaggregated data in 2021, including 34 LLMICs.
  - Reporting on mobile and internet banking: out of 91 reporters in 2021, eight newly started reporting data, including five LLMICs.
  - Reporting by FCS remained strong: 26 countries reporting data in 2021, covering close to two thirds of fragile states.
- Analytical and outreach initiatives:
  - Financial Access COVID-19 Policy Tracker expanded to include measures targeting women’s financial access, drawing on UNDP and UN Women COVID-19 Global Gender Response Tracker.
  - The tracker has been downloaded over 4,000 times as of April 2022.
  - Analytical work exploring Big Data use: analysis using open-source mobile money transaction data and Google Maps API geolocational data on mobile money agents and ATMs in Kenya presented at a February 2022 workshop; discussions underway on supplementing FAS country-level data with geolocational findings.
  - Publications and outputs featuring FAS:
    - 2021 FAS Trends and Developments (published November 2021) showcased impact of the COVID-19 pandemic on financial access in 2020.
    - IMF Working Paper “Is Mobile Money Part of Money? Understanding the Trends and Measurement” (published July 2021).
    - IMF COVID-19 Special Series Note “Women’s Financial Access in Times of COVID-19”.
  - FAS outreach emphasized digital financial services and gender to support policy efforts addressing rising inequality.

*Source: IMF D4D Fund progress report and work plan — Statistics Department.*

### 50.      Workshops/webinars will continue to be organized to further improve data reporting

### Workshops/webinars will continue to be organized to further improve data reporting

### Continuing workshops and webinars for FAS reporting
- Workshops/webinars will continue to be organized to further improve data reporting during the FAS 2022 round.
- Even after the situation normalizes, webinars will be offered along with face-to-face workshops.
- Webinars have proven to be a cost-effective way to engage with data compilers, particularly for quick refreshers on the FAS data collection process and methodology.
- Country authorities indicating interest in CD to support IMF’s FAS reporting are invited to the in-person workshops.

### Improved FAS data validation and metadata review
- The 2022 FAS data validation process will use improved validation tools, including:
  - An automated data visualization of country-level data and outlier detection.
  - A tool to summarize main FAS indicators to facilitate analysis and validation.
- FAS metadata review incorporating new information provided by countries will ensure that the metadata is up to date for optimal user experience.

### Adapting the FAS to fintech, digital financial services, and vulnerable groups
- The IMF will keep adapting the FAS to the evolving financial sector landscape while providing supporting tools to facilitate data reporting.
- The FAS data collection framework will be reviewed and revised to keep pace with rapidly changing fintech developments.
- A pilot data collection will be initiated with current FAS compilers to test the feasibility of collecting more relevant data on select digital financial services, including fintech as well as data on vulnerable groups such as Small and Medium Enterprises (SMEs) and women.
- Findings from this pilot will inform the direction of future FAS questionnaire revisions.
- Footnote summary preserved:
  - "Fintech refers to technology-enabled innovation in financial services, covering a wide range of financial services and products."
  - "FAS reporting jurisdictions were requested to respond to a brief questionnaire on the availability of fintech data at the time of the 2021 FAS questionnaire launch. About a quarter of FAS reporters responded. According to the responses, some countries collect data on mobile money by gender and others plan to start collecting such data in the near future."

### Stocktaking, gender mainstreaming, and non-traditional data sources
- A stocktaking on fintech developments relevant for financial inclusion will be explored, noting fintech-enabled services such as peer-to-peer lending and crowdfunding.
- The FAS will continue to leverage mainstreaming of gender issues in IMF operations to enhance the usefulness and recognition of gender-disaggregated FAS data, including expanding outreach for internal and external users.
- Non-traditional data sources will continue to be explored, including geolocational data from the Google Maps API or other alternative sources.
- Data sources for underexplored areas relevant for financial inclusion, such as the cost of accessing finance (including bank fees and other related costs associated with using financial services), will be explored.

### CD activities and planned workshop changes (Table 10 highlights)
- FY 2019 - FY 2022: AFR (Workshop x3) ✓ ; WHD (Workshop) ✓ ; MCD (Workshop x2) ✓
- FY 2023 – FY 2024 (Q2) planned additions:
  - APD Workshop (2) +2
  - WHD Workshop +1
  - MCD Workshop (x2) +2
- Net change +5

*Source: IMF Statistics Department.*

### 7. Module 4: Statistical Information Management $0.33 million Tables 4 & 11

### 7. Module 4: Statistical Information Management $0.33 million Tables 4 & 11

### Future Meetings of the Steering Committee
- Regular donor check-ins: the IMF anticipates two virtual check-in meetings, in October 2022 and in January 2023, ahead of the next annual meeting in June 2023.
- Chair rotation: After the 5th annual SC meeting, Norway will serve as the Chair of the D4D Fund Steering Committee; the IMF expressed appreciation to the European Commission for its prior leadership.

### Real Sector Statistics — High-Frequency Indicators (HFI) — Progress Achieved
- CD on HFIs has begun to show results, with several experimental MIEGs delivered and two training workshops conducted.
- Bhutan:
  - Annual national accounts released with a nine-month lag and quarterly national accounts not available.
  - Between August 2021 to March 2022, in coordination with SARTAC, CD completed an experimental MIEG series.
- Ethiopia:
  - Support to develop a new index of industrial production (IPI) and an updated PPI with a shared sample, questionnaire, and data collection process.
  - Data collection delayed; revised plan: data collection beginning in July 2022 and dissemination of the new series planned for February 2023.
- Togo:
  - Experimental MIEG available following remote CD in October 2021 and follow-up meetings.
  - Release of supply and use tables back-casted to 2007-2015 to complement the 2016-rebased GDP series; volume measures of an experimental MIEG compiled and disseminated within the government.
- Uganda:
  - June 2021 mission compiled an experimental MIEG drawing on several monthly indicators including sales (VAT) data; an action plan provided to improve validation and source-data relevance.
- Regional workshops:
  - July 2021 workshop (joint with SARTTAC) attended by 50 participants from five APD countries (Bangladesh, Bhutan, India, Maldives, and Sri Lanka).
  - March 2022 workshop (with the African Training Institute) attracted 33 participants from 21 AFR economies, including 11 FCS (Benin, Botswana, Cameroon, Cape Verde, Central African Republic, Chad, Republic of Congo, Côte D’Ivoire, Eswatini, Gabon, Guinea, Madagascar, Mali, Mauritius, São Tomé and Príncipe, Senegal, Seychelles, Sierra Leone, South Africa, Togo, and Zimbabwe).

### High-Frequency Indicators — Future Work Plan
- Delayed activities earmarked for FY 2023 – FY 2024 Q2 due to country staff constraints and competing priorities: Jordan, Bangladesh (mission tentatively planned for second half of 2022), Sudan (timing unclear), Mongolia (shift to more basic CD for GDP compilation via CCAMTAC).
- Missions planned or expected:
  - Bhutan: knowledge transfer event planned for June 2022 to equip Royal Monetary Authority staff for regular monthly compilation; outputs to be leveraged for QNA via SARTTAC RSS FY 2023.
  - Follow-up missions to Uganda and Sierra Leone to continue MIEG development.
  - Ethiopia: follow-up to finalize new IPI and PPI series.
  - Angola: assist development of a Purchasing Managers’ Index and improve monthly business-opinion survey data.
  - Mauritania: update and improve the IPI, coordinated with AFRITAC West work plan.
  - Pakistan: support development of quarterly national accounts.
  - Togo: conclude MIEG work focused on (i) integrating MIEG into NSO outputs, (ii) improving consistency with annual GDP estimates, and (iii) introducing seasonally adjusted estimates.
- Capacity placeholder: a placeholder for 15 missions is included to respond to anticipated demand for experimental MIEG CD.
- Training: one QNA/HFIx blended learning course planned with the expected launch of online courses on QNA/HFIx—CPIx during FY 2023 (see Section IV-C).

### National Accounts Rebasing/Benchmarking — Progress Achieved
- Afghanistan: June 2021 mission advised on design and operation of a business establishment survey and a plan to establish a sample frame for formal and informal sectors.
- Burundi: work to update national accounts from 2005 to 2016; July 2021 mission assisted in compiling a SUT and adjusting 2005-2015 accounts to the new base.
- Cameroon: assistance to implement updated quarterly national accounts aligned with rebased annual series; adoption of a new chained volume approach and resumption of seasonally adjusted quarterly national accounts.
- Central African Republic: initiated GDP rebasing with D4D support; May 2021 mission agreed a work plan for a comprehensive update with a planned 2023 release of rebased GDP estimates.
- Côte d'Ivoire: February 2022 mission established a work plan following an assessment of PPI methods and interest in expanding PPI to services.
- Ethiopia: July 2021 TA mission assessed Statistical Business Registers (SBR) and provided CD to harness administrative data and improve data sharing via a Memorandum of Understanding.
- Kenya: July 2021 mission reviewed methods for revised national accounts (2009–2019) and advised on documentation for transparent GDP revisions.
- Lesotho: December 2021 mission supported creation of a new SBR from tax data and use of administrative sources; a data sharing Memorandum of Understanding expected; significant work remains to align tax data classifications for GDP use.
- Malawi: September 2021 mission assisted with a Memorandum of Understanding to receive tax data from the Malawi Revenue Authority and trained NSO staff on preparing VAT raw data for GDP by production.
- Mauritania: November 2021 mission developed a work plan for a new PPI including index templates and questionnaires.
- Sierra Leone: collaboration with the World Bank to design labor force and business enterprise surveys to improve CPI and national accounts; surveys planned to underpin 2022 benchmarking/rebasing.
- Solomon Islands: diagnostic mission in March 2022 with PFTAC; 18-month work plan to finalize compilation of SUT and IOT; D4D-funded assistance focused on compiling completed tables; first SUT delivery expected by end-2023.
- South Sudan: November 2021 mission reviewed 2020 GDP estimates prepared for dissemination; compilation capacity improved despite deficiencies.
- Vietnam: benchmarking/rebasing exercise expected to be completed by March 2023 with progress on SUT for 2020 and development of an SPPI; national sample of enterprises design supported with dissemination planned for January 2023.

### National Accounts Rebasing/Benchmarking — Remote Workshops Conducted in FY 2022
- CPI webinar for APD countries in June 2021 (joint with the IMF Capacity Development Office of Thailand): over 130 compilers and data users participated; covered pandemic-related CPI compilation issues.
- Regional workshop on source data for MCD countries in December 2021: addressed SBR development/maintenance, business-data economic activity classification, use of administrative tax data for GDP, and estimating informal sector activity with household surveys.

### National Accounts Rebasing/Benchmarking — Future Work Plan
- Country support planned:
  - Assist Bangladesh in updating PPI weights.
  - Assist Bhutan in developing an updated PPI to support GDP rebasing (two missions).
  - Support Cambodia in disseminating GDP rebasing results and in design/processing of a planned economic census (two missions).
  - Support India in developing a new PPI including services coverage (two missions); India currently compiles a Wholesale Price Index but not a PPI.
  - Assist Senegal in updating benchmark measures of natural resource extraction to support an upcoming GDP rebasing.
  - Support Sri Lanka in expanding PPI coverage.
- Continued support to complete outcomes:
  - National accounts benchmarking in Burundi, Central African Republic, and the Democratic Republic of Congo.
  - Creating a new SBR from tax and administrative sources in Lesotho.
  - Incorporating administrative tax data in Malawi’s GDP compilation.
  - Developing a new PPI for Mauritania; improving PPI practices in Côte d'Ivoire; developing a new SPPI for the Philippines.
  - Improving informal sector estimates for Sierra Leone and Vietnam.
  - Developing SUT and IOT in the Solomon Islands.
  - Assisting Sudan with source data needed for GDP rebasing.
- Flexible capacity: a placeholder for six missions included to respond to new demand.
- Training: two blended CPIx learning courses planned during FY 2023 and an in-person SUT-to-IOT workshop for APD; an in-person digital-economy national accounts workshop planned for AFR; a PPI and export price indexes workshop planned for MCD.

### Residential Property Price Index (RPPI) — Progress Achieved
- Cambodia:
  - Disseminated a new RPPI data series in June 2022.
  - The fourth D4D-funded mission in October 2021 finalized outputs for public release and provided training to the National Bank of Cambodia for integration into core statistics.
- Eswatini:
  - Continued efforts to secure source data access; prototype RPPI compiled from Deeds Office data but Central Bank suspended prototype compilation due to data limitations.
  - Efforts shifted to securing mortgage-based data from financial institutions with aim to compile a new baseline RPPI by Q4 2022.
- Honduras:
  - April 2022 mission assessed property transactions source data, developed a work program to establish a housing dataset, and identified RPPI methodology; expected to establish a new transaction price dataset for a national RPPI by end-2022 with follow-up CD.
- Mongolia:
  - Transitioned from survey-based RPPIs to hedonic regression methods and recommended use of the real estate company dataset; further improvements required and publication planned for April 2022 was postponed.
- Delays:
  - Planned activities for Armenia, Bangladesh, Moldova, Tunisia, and Uganda delayed due to authorities reprioritizing recovery of statistical operations or preferring in-person TA missions.
- Regional training:
  - March 2022 RPPI workshop for MCD countries had 25 participants from central banks and statistics agencies of 12 countries; focused on data sources, modeling, and property-mix adjusted RPPI methodology.

*Source: Statistics Department, D4D Progress Report and Work Plan.*

### 74.      In addition to follow-up assistance, the work plan extends the geographic coverage by

### d4d-progress-report-and-work-plan - 74.      In addition to follow-up assistance, the work plan extends the geographic coverage by

### Residential Property Price Indices (RPPIs) work plan and country activities
- The work plan extends geographic coverage by including Georgia and Jordan.
- Follow-up assistance in FY 2023:
  - Bangladesh, Eswatini, Tunisia, and Vietnam: assist in finalizing new RPPIs and preparing for publication.
  - Honduras: continue work on developing an RPPI.
  - Bangladesh and Tunisia have expressed strong preference for onsite CD assistance.
- Armenia:
  - Initial stages of developing an RPPI.
  - Selection of suitable data sources to be determined because the land register is not yet collecting appropriate data.
- Cambodia:
  - A short concluding mission scheduled for June 2022 will coincide with the official launch of the RPPI developed with support of the D4D Fund.
- Jordan:
  - RPPI is based on prices available at the Department of Land and Survey for various types of real estate for all governorates.
  - CD requested by the Central Bank of Jordan will explore areas for improvement and review the methodology.
- Georgia:
  - Plans to extend RPPI coverage (current: new buildings in the capital city) to existing buildings and more cities through web-scraping.
  - CD support will focus on implementation of hedonic property-mix adjustment methods.
  - Benefitted from CD since 2018 under a bilateral donor project which resulted in the launch of its RPPI in April 2021.
- Mongolia:
  - A follow-up onsite mission will review provisional outcomes of applying hedonic regression methods to the RPPI.
- Moldova:
  - Currently compiles an RPPI covering its capital city using web-scraped data.
  - CD will focus on expanding geographic coverage and exploring feasibility of using administrative data sources such as land registers.
- Philippines:
  - The central bank disseminates RPPIs dating back to 2016, using information on loans to households for house purchases.
  - The central bank is upgrading these outputs and has requested STA’s assistance.
- Additional country mentions in the RPPI context: Armenia, Azerbaijan, Djibouti, Egypt, Georgia, Iran, Jordan, Kyrgyz Republic, Morocco, Pakistan, Uzbekistan, and West Bank and Gaza.
- Additional RPPI program activities:
  - A follow-up onsite mission for Uganda to further enhance its published RPPI (regional workshop attendance in March 2019 prompted follow-up).
  - Bank of Zambia requested CD to support development of an RPPI; mission will explore data sources and review compilation methods, considering stratification and property-mix adjustment.
  - Three placeholder missions included to cater for further new demands.
  - Two in-person regional workshops planned in AFR and APD to bring together countries at different stages of RPPI development, including those advanced under the D4D Fund.

### External Sector Statistics — Progress Achieved (key findings and outcomes)
- Common CD themes across countries:
  - Lack of sound source data and compilation errors in critical components impacting ESS reliability.
  - Root causes: inefficient interagency cooperation in data sharing, weak legal settings, lack of suitable data sources, weak compilation techniques, and limited resources.
- External sector debt capacity development:
  - Three regional workshops on external sector debt were delivered for African, Asian Pacific, Middle East Central Asian and European countries focusing on measurement of debt relief initiatives and new concessional lending arrangements.
  - Workshop details:
    - First workshop (December 6-8, 2021): targeted Anglophone LLMICs in Africa, East Asia, and Middle East Asia; thirty-one officials from 14 countries participated.
    - Second workshop (December 13-15, 2021): targeted Francophone countries in AFR and WHD; thirty-nine officials including 2 observers from 17 countries participated.
    - Third workshop (December 13-15, 2021): delivered for Russian-speaking countries; thirty-four officials representing 10 countries participated.
- Remittances statistics training:
  - Three blended virtual regional training workshops delivered for African, Asian Pacific, Middle East Central Asian and European countries.
  - Training combined D4D funded online courses and synchronous virtual lectures with “hands-on” breakout sessions.
  - Course completion rate: 80 percent of participants that originally registered.
  - Workshop details:
    - First workshop (March 28-30, 2022): targeted twenty-three participants representing 10 countries from Caucasus, Central Asia, and Eastern Europe.
    - Second workshop (April 4-6, 2022): targeted Anglophone LLMICs in Africa, East Asia, and middle East Asia; thirty-nine officials from 19 countries participated.
    - Third workshop (April 25-27, 2022): targeted Francophone countries in AFR and WHD and delivered in French (participant numbers unspecified).
- Regional workshop on compiling cross-border position statistics:
  - Delivered for WAIFEM and MEFMI member countries.
  - Training on international investment position, external debt statistics, Coordinated Portfolio Investment Survey, and International Reserves and Foreign Currency Liquidity.
  - Participation: Fifty-one officials from 14 countries.
- Country-specific mission outcomes and actions (selected):
  - Angola (August 2021): Assisted in recording reserve assets; follow-up mission compiled reserve data template; comprehensive reserve data template now disseminated monthly.
  - Burkina Faso (April 2022): Improved periodicity and timeliness of ESS; addressed inconsistencies between IIP and external debt data sets.
  - Cameroon (April 2022): Assessed potential participation in CDIS and CPIS; assisted in estimating formal and informal transfers from the diaspora.
  - Central African Republic (April 2022): Addressed methodological issues estimating imports and exports using customs data and mirror statistics; assessed potential for CDIS participation.
  - Chad (March 2022): Assisted to overcome delays in compiling and disseminating BOP and IIP; helped compile CDIS and Quarterly External Debt Statistics; authorities plan to participate in Quarterly External Debt Statistics for 2021 in September 2022 and start reporting Quarterly External Debt Statistics to the World Bank by the end of 2022.
  - Democratic Republic of Congo (April 2022): Improved classification of primary income components; improved recording of banks’ deposits abroad; assisted in compilation of CDIS.
  - Djibouti (February 2022): Improved source data and compilation techniques for goods and services and incorporation of bank data into BOP; assisted drafting decree establishing a BOP Committee.
  - El Salvador (February 2022 multisector mission): Assisted in compiling and recording Bitcoin transactions and positions in ESS, MFS, National Accounts, and GFS; this was the first CD activity on crypto assets provided by STA; April 2022 ESS mission followed up on April 2021 recommendations and assisted in enhancing quality of goods and services in BOP including digital trade compilation.
  - The Gambia (April 2022): Improved source data and compilation methodology for IIP and financial account transactions; promoted compilation of IIP statistics for public dissemination.
  - Guinea-Bissau (March 2022): Addressed external debt inconsistencies between current and financial accounts; assessed data from debt unit of Ministry of Finance.
  - Iraq (December 2021): Addressed sources of large net errors and omissions, including oil sector transactions, Kurdistan Region cross-border trade, arrears and in-kind payments for external borrowing.
  - Liberia (March 2022): Addressed data collection issues under COVID-19 disruptions; recommendations included streamlining surveys and regular follow-up with main data providers.
  - Malawi (March 2022): Provided guidance on expanding source data and techniques, focusing on trade in goods and services.
  - Mali (March 2022): Assisted resumption of quarterly BOP and IIP statistics; supported use of international transaction reporting system to compile quarterly BOP; quarterly BOP and IIP data were compiled up to end March 2021.
  - Niger (April 2022): Followed up on recording gold export transactions and re-exports; assisted compilation of external debt statistics and publication in Quarterly External Debt Statistics.
  - Philippines (April 2022): First ESS mission since May 2012; assessed data collection framework and compilation practices; recommendations to update survey forms and sampling frames, review estimation techniques, and ensure consistency among ESS datasets.
  - São Tomé and Príncipe (November 2021): Improved quality of BOP and IIP statistics; provided guidance on classification of oil-related assets; amended time series of reserve assets on IIP and MFS were disseminated.
  - Sierra Leone (November 2021): Preliminary IIP compiled; errors and omissions in BOP for 2018-2020 reduced to -24%, -6% and 7% from -50%, -40% and -15%, respectively.
  - South Sudan (November 2021): Assisted in compiling preliminary 2020 BOP statistics focused on oil exports, payments under Transitional Financial Agreement, humanitarian aid, and imports; major challenge remains lack of interagency cooperation.
  - Tajikistan (February 2022): Assessed new direct reporting data collection framework; provided guidance to strengthen it and improve compilation of remittances and services.
  - Togo (April 2022): Assisted in compiling quarterly ESS and addressed methodological issues in capital and financial accounts components.
  - Uzbekistan (November 2021): Followed up on multi-sector diagnostic mission action plan; assisted in compiling historical BOP and IIP data on a BPM6 basis for 2005–2009; revised data on BOP and IIP starting from 2005 submitted to IMF for re-dissemination with smaller errors and omissions.
  - Zambia:
    - BOP data show large unidentified outflows, amounting to about 30 percent of GDP over 2020-21.
    - An intensive CD program agreed: three missions in February 2022, April 2022, and July 2022 to investigate nature of large unidentified outflows and provide guidance on statistical recording.
- Missions completed in FY 2022 but started in FY 2021:
  - Comoros: Assisted Central Bank in compiling most relevant BOP data on goods, services, remittances, FDI, foreign currency assets, loans, and trade credits; ESS production limited to annual BOP and follows BPM5.
  - Lesotho: Supported development of source data and compilation practices for private capital flows and private transfers; preliminary estimates suggest equity transactions are underestimated and debt transactions overestimated.

### External Sector Statistics — Future work plan priorities and missions
- Strategic focus remains on addressing external sector data gaps and strengthening compilation practices, with intensified CD on emerging IMF priority topics:
  - Continue priority on external debt.
  - Increase focus on cross-border transactions related to digitalization, in particular recording of crypto assets and digital trade.
- Regional coordination and medium-term planning:
  - A flexible medium-term work plan covering May 2022 - October 2023 will be developed with the Central Bank of West African States (BCEAO) and the Bank of Central African States (BEAC).
  - Strategy to build on achievements of earlier dedicated regional project will be developed for D4D-eligible countries.
- Work plan missions and scheduling:
  - Missions initially scheduled in FY 2022 to Burundi, Cabo Verde, Comoros, Equatorial Guinea, Kenya, Madagascar, Morocco, and Zimbabwe were rescheduled and included in the new work plan.
  - Missions endorsed in the May 2021 - October 2022 work plan to Côte d'Ivoire, Kyrgyz Republic, Mauritania, Rwanda, Tunisia, Republic of Congo, Vanuatu, and West Bank and Gaza planned for first half of FY 2023 are included.
  - Missions to Afghanistan, Egypt, and Ukraine were removed from the work plan due to current security concerns for Afghanistan and Ukraine and no urgent need for Egypt; these countries may be added back if conditions change.
  - Follow-up CD will be provided to El Salvador, Philippines, and São Tomé and Príncipe (covered in FY 2022).
  - Somalia: CD focus on strengthening data sources and identifying new ones to improve BOP reliability.
  - Zambia: In-person mission will continue guidance, including engagement with mining sector companies, to understand use of non-repatriated mining sector export proceeds and complete assessment of unidentified flows.
  - Twenty placeholder missions included to provide flexibility for urgent follow-up needs.

*Source: D4D Fund Progress Report and Work Plan.*

### 80.      Five thematic workshops are planned over the work plan period, centered on topics that

### d4d-progress-report-and-work-plan - 80.      Five thematic workshops are planned over the work plan period, centered on topics that

### Thematic workshops and training modalities
- Five thematic workshops are planned, centered on topics that countries identified as priorities in the survey conducted by STA:
  - Three workshops on reserve assets for Anglophone countries, Francophone countries, and the Russian-speaking countries of the Central Asia and Eastern Europe region.
  - One workshop on remittances for WAIFEM/MEFMI member countries.
  - One workshop on BOP and IIP compilation for Central Asian countries.
- To maximize benefits from the successful launch of the BOP-IIPx online course and translations of the course, three BOP-IIPx Small Private Online Courses (SPOCs) will complement traditional training activities:
  - Participants will be invited on a regional and linguistic basis to address specific regional compilation challenges and to facilitate peer learning.
  - These trainings will build on lessons learned during the successful blended learning courses on remittances in FY 2022.

### Progress Achieved on Public Sector Debt Statistics (PSDS)
- The PSDS diagnostic workshop for MCD countries was the last diagnostic workshop in the D4D Fund’s work plan. The July 2019 diagnostic workshop, planned for seven countries, was delivered to only three countries (Tajikistan, West Bank and Gaza, and Yemen), as other countries were unable to engage.
- Priority data gaps identified:
  - Instrument coverage of debt.
  - Institutional coverage to include nonfinancial public corporations.
- Follow-up CD missions have been scheduled to Tajikistan and Yemen, with the mission to Yemen serving as a stock-taking and diagnostic mission following an extended period of no CD engagement.
- PSDS missions provided hands-on training and assisted with data compilation aligned with international standards. Selected mission findings and support:
  - Guinea Bissau: assessed compilation and publication of public sector debt data; recommended presentation of debt securities follow residency criteria according to international guidelines; recommended ensuring consistency between stocks and flows of external debt; recommended covering all debt instruments, especially accounts payable not currently reported.
  - São Tomé and Príncipe: assessed debt reports published on the Ministry of Finance’s website; recommended on data presentation and consolidation.
  - Mozambique: provided training on consolidation and treatment of guarantees and liabilities of public-private partnerships; pilot compilation indicated at the end of 2020 total debt of the general government stood at 97.5 percent of GDP, marginally larger than budgetary central government debt published by the Ministry of Economy and Finance of Mozambique; public sector debt, excluding the central bank, amounted to 119 percent of GDP for the same period.
  - Papua New Guinea: conducted a market test for SOEs with available data to distinguish market entities from non-market entities; used balance sheet data for FY 2018 and FY 2019 and bridged the data to GFSM 2014 consistent stock positions; currently compiles and disseminates only central government debt data; availability of debt liability stock positions for SOEs will help improve IMF surveillance and possible expansion of debt sustainability analysis to include these SOEs.
  - El Salvador: assisted in strengthening compilation and dissemination of PSDS following international standards and methodologies, regarding coverage, valuation, residency of short-term T-bill holders; supported preliminary exercises on computation of accrued interest for debt valuation at nominal value (to be finalized by authorities).
  - Nicaragua: supported preliminary exercises on computation of accrued interest for debt valuation at nominal value (to be finalized); assisted with expanding institutional coverage of public debt, including data collection processes for extrabudgetary units, local governments, non-financial public corporations, and financial public corporations; supported incorporating other accounts payable in debt stock.
  - Micronesia: supported compilation of consolidated public sector debt statistics for FY 2019 from audited financial statements for the first time; encouraged publication on the IMF/World Bank Quarterly Public Sector Debt database.
  - Central African Republic: supported source data identification to expand institutional coverage beyond budgetary central government, including debt of largest utilities SOEs.
  - Guinea-Bissau: identified need to expand coverage to extra-budgetary units, local government, and SOEs; challenges due to lack of institutional arrangements for data collection and compilation.
  - Honduras: assisted with compilation and consolidation of general government and public sector debt at nominal value, including accrued interest and inclusion of other arrears, public-private partnerships, and trust-related liabilities.
  - Solomon Islands: updated institutional coverage and supported compilation of public sector debt statistics for FY 2017 and FY 2018.
  - Sierra Leone: assisted with verifying and validating historical commercial debt liabilities where limited information existed.
  - Cameroon: delivered jointly with AFRITAC Center; helped collect and reconcile debt data from three separate entities (public debt management agency, treasury, central bank) and supported compilation of debt statistics.
- PSDS missions assisted with addressing data discrepancies and integrating stocks and flows:
  - Angola: assisted in addressing discrepancies between above-the-line fiscal data and financing; reviewed and checked consistency of balance sheet data focusing mainly on debt liabilities.
  - Mozambique: assisted with reconciliation of debt data between the ministry of finance and the central bank.
  - Solomon Islands: identified causes for discrepancies between PSDS and GFS.
  - Sierra Leone: supported integration of stocks and flows for debt liabilities (not including arrears) and integrating stocks and flows for arrears (including fines and penalties).
- PSDS missions assisted improvements to data dissemination:
  - Micronesia: supported completion of the joint IMF / World Bank quarterly public sector debt questionnaire.
  - São Tomé and Príncipe: demonstrated compilation of national debt data in the format for dissemination to the GFS database.
  - Mozambique: supported filling annual and quarterly PSDS tables using available data sources for FY 2017-2020.

### Follow-up missions on compilation of SOEs fiscal statistics
- Tunisia:
  - Reviewed sector classification of a series of SOEs.
  - Compiled GFS for 93 SOEs based on a bridge table tailored to the financial statements database maintained at the Ministry of Finance.
  - Bridge tables developed in prior mission were further improved.
  - For 2016 to 2018, where over 90 percent of SOEs were included in the database, the stock of debt compiled during the mission averaged over 45 percent of GDP.
- Lesotho:
  - Expanded GFS compilation to additional SOEs using accounting financial statements data for the period from FY 2015-2016 to FY 2019-2020.
  - Supported compilation of GFS for three large public corporations in the utility and housing sector.
- Côte d’Ivoire:
  - Provided training on GFS compilation techniques for SOEs statistics, including using authorities’ trial balance data for illustration.
  - Assisted with addressing data discrepancies on SOEs debt data between two government entities involved in debt data collection and reporting.

### Future Work Plan on PSDS
- Missions initially scheduled in FY 2022 to Morocco, Ukraine, Uzbekistan, and Vanuatu were rescheduled. The mission to Ukraine remains on the work plan for potential rapid mobilization once the ongoing crisis abates.
- Missions previously scheduled in FY 2021 to Egypt and Togo will be delivered in person in FY 2023.
- In response to authorities’ requests, follow-up missions in FY 2023 will be delivered to Angola, Guinea Bissau, Papua New Guinea, São Tomé and Príncipe, Sierra Leone, and Zimbabwe to support improvements to institutional and instrument coverage of debt and debt reporting:
  - Papua New Guinea: review data collected after the FY 2022 mission on SOE balance sheets and assist with deriving GFS stock positions, including debt liabilities.
  - São Tomé and Príncipe: assist with expansion of debt data coverage, valuation, and consolidation; support debt reporting needs in the context of developing a new debt recording and management system.
  - Tunisia (follow-up SOEs fiscal statistics mission): support consolidation of SOEs data compiled during the FY 2022 mission into general government.
- Joint missions with IMF Regional Capacity Development Centers:
  - Two FCS—Burundi and Chad (with AFRITAC Center)—will include in-country refresher training combined with hands-on data compilation, building on data gaps identified during the PSDS diagnostic workshop.
  - A second mission to Uzbekistan is scheduled (with CCAMTAC) to address comprehensiveness of debt data and integration of stocks and flows.
  - SOEs fiscal statistics missions are scheduled jointly with CCAMTAC to Georgia and Armenia.
- Placeholders and on-demand allocation:
  - Seven placeholder missions are allocated to meet on-demand TA from countries that attended PSDS diagnostic workshops, including one specifically for a country that attended the second PSDS diagnostic workshop for MCD countries in FY 2022; these missions will help address issues with debt stocks and flows consistency.
  - Four placeholders are allocated for SOEs missions.

### Progress Achieved on Government Finance Statistics (GFS)
- GFS CD activities provided hands-on training on the GFSM 2014 methodology and concepts and helped improve data quality, historical time series, and coverage of fiscal statistics:
  - Moldova and Timor-Leste: missions provided hands-on training; Timor-Leste training included new staff in a reorganized department within the ministry of finance.
  - Cabo Verde, The Gambia, Mozambique: missions helped improve data quality and address statistical discrepancies between financial and non-financial transactions:
    - Cabo Verde: mission identified possible sources of statistical discrepancy and suggested ways to resolve it.
    - The Gambia: mission proposed reporting transactions in the statement of operations on a modified cash basis and recording adjustments to unpaid float checks and commitments to explain discrepancies.
    - Mozambique: statistical discrepancy amounted to about four percent of GDP in FY 2020; mission assisted with reconciliation of deposits data, review of domestic credit to the government, and analysis of accounts receivable and payables to reduce the statistical discrepancy.
  - Zambia: reviewed source data for budgetary central government GFS compilation and supported adjustments to source data for consistent GFS compilation.
  - Solomon Islands: followed up from the PSDS mission; assisted with stocks and flows consistency and appropriate recording of grants.
- GFS missions supported expanding coverage of fiscal data:
  - Moldova: reviewed classification and compilation of data for extrabudgetary units.
  - Timor-Leste: supported compilation of GFS for autonomous agencies that form part of the budgetary central government and laid groundwork for expanding coverage to other government units.
  - Zambia: reviewed source data collected by the Zambia Statistics Agency for social security funds, select extrabudgetary units, and local governments.
  - Cabo Verde: supported consolidation of general government GFS.
- GFS missions supported updates to historical series:
  - Cabo Verde: reviewed consistency of annual historical series over the FY 2006 – 2019 period for the budgetary central government, the social security fund and local governments and quarterly data for the budgetary central government.
  - The Gambia: resulted in compilation of a consistent GFS time series from 1999-2021, including a consistent revenue time series and more detailed compilation of expenditure and below-the-line financing data from 2017, with a streamlined compilation file distinguishing source data, output data and GFS compilation data from 2017 onwards.
- Capacity development via GFSx courses:
  - Three GFSx courses, in English (for participants in Asia and the Pacific), in French, and in Spanish (with global reach), included live interactive sessions.
  - The first offerings in French and Spanish combined a MOOC for the general public and SPOC for government officials, with live sessions led by a GFS expert.
  - A total of 376 participants from 40 D4D-eligible countries participated in at least one session of the virtual sessions for the GFSx courses offered in French and Spanish and the course in English for Asia and the Pacific.

### Future Work Plan for GFS
- Missions originally scheduled in FY 2022 that were rescheduled: Bolivia (added during FY 2022 taking one placeholder), Comoros, Eswatini, Ghana, and Haiti.
- Engagements on hold but maintained on the work plan: Afghanistan and Sudan, subject to reassessment.
- Yemen: mission will take stock of current GFS compilation and assist with development of a work plan for improvement of data compilation and reporting.
- Joint missions:
  - Tajikistan and Mongolia will be delivered jointly with CCAMTAC with in-country training components.
- Follow-up missions scheduled to Comoros, Madagascar, and Timor-Leste:
  - Madagascar: will support compilation of the first set of consolidated general government GFS.
  - Comoros and Timor-Leste (both FCS): will build on previous missions to further improve data quality for the budgetary central government in Comoros and support expansion of institutional coverage of GFS to autonomous agencies in Timor-Leste.
- Resource allocation and placeholders:
  - The work plan allocates 15 placeholder missions to accommodate increasing demand for quality data to inform monitoring of new IMF supported programs, reflecting that the GFS workstream has been backloaded following phasing out of bilateral donor projects.
- Blended learning courses planned:
  - Two blended learning courses are planned on:
    - Compilation of SOEs fiscal statistics: will help participants from anglophone African countries understand linkages between SOEs accounting source data and the GFS framework and how to derive integrated GFS stocks (including stock of debt) and flows for SOEs.
    - Consolidation of GFS and PSDS: will aim to improve understanding of consolidation concepts, which elements of GFS and PSDS should be consolidated, and practical application of consolidation in compilation of GFS and PSDS for broader institutional coverage.
  - The consolidation course will target countries covered by the IMF’s Capacity Development Office in Thailand, of which six are D4D-eligible (Cambodia, Indonesia, Lao P.D.R., Myanmar, Philippines, and Vietnam).

*Source: D4D Progress Report and Work Plan (STA — Statistics Department).*

### 88.      Two webinars for the Middle East and Central Asia region in July 2021

### 88.      Two webinars for the Middle East and Central Asia region in July 2021

### Webinars delivered and participants
- Two webinars were organized for the Middle East and Central Asia region in July 2021 to accommodate different time zones.
  - The first webinar invited participants from Djibouti, Egypt, Jordan, Mauritania, Morocco, Sudan, and Tunisia.
  - The second webinar invited officials from Armenia, Georgia, Kyrgyz Republic, Tajikistan, and Uzbekistan.
- One webinar for the Africa region was held in January 2022 and included participants from Cabo Verde, The Gambia, Lesotho, Mozambique, Nigeria, Sierra Leone, Somalia, South Sudan, and Tanzania.
- Webinar summaries are posted on the FAS data portal.
- The July 2021 webinars replaced the face-to-face workshop planned before the pandemic.

### Outcomes and impacts
- The webinars aimed at improving the coverage of the FAS database and facilitating peer-learning.
- The webinars triggered discussions among participants on their financial access data collection process and experience.
- After the webinar, Tajikistan resumed submitting data to the FAS after some years, including gender disaggregated data.
- Other countries that participated in past FAS webinars/workshops, such as Haiti and Madagascar, have also recently started to submit gender disaggregated data.
- For many countries, the webinars helped in exploring the possibility of delivering more data series and reaffirmed their commitment to continue FAS data submission.

### Planned follow-up events and scope
- Moving forward, five webinars/workshops on financial access data collection are envisaged:
  - Two webinars are planned for the Asia and Pacific region in June 2022.
    - Rationale: it has been more than three years since the last regional workshop was organized and several LLMICs have not yet participated in a FAS workshop.
    - Objective: engage with the countries that have not recently reported data to the FAS.
    - Countries to be invited: Bangladesh, Bhutan, Cambodia, Fiji, India, Indonesia, Kiribati, Lao PDR, Marshall Islands, Micronesia, Mongolia, Nepal, Papua New Guinea, Palau, Philippines, Samoa, Solomon Islands, Sri Lanka, Timor-Leste, Tonga, Vanuatu, and Vietnam.
  - A webinar for the Western Hemisphere region will be conducted in Spanish and is planned to take place in January 2023.
    - Countries to be invited: Argentina, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, and Uruguay.
    - Given that this webinar will be held virtually, invitations will be extended to non-LLMICs with no extra cost, for peer-learning and experience sharing purposes.
  - A workshop is scheduled to take place in the second half of 2023 for the Middle East and Central Asia region which will take place in person if conditions allow.
  - A series of webinars organized by the United Nations Economic and Social Commission for Western Asia on Sustainable Development Goal (SDG) indicators will include a webinar on the FAS database and methodology, including the compilation of the two SDG indicators for which the FAS is the custodian:
    - SDG Indicator 8.10.1: the number of ATMs per 100,000 adults and the number of commercial bank branches per 100,000 adults.
    - The UNESCWA is composed of the following countries: Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates and Yemen.

### Role of the FAS and D4D support
- The Financial Access Survey (FAS):
  - Provides policymakers and analysts with high-quality statistics in this unique financial inclusion database covering 189 economies, including monitoring of SDGs on financial inclusion.
  - Improvements targeted include gender-disaggregated statistics and costs of financial access.
- D4D Fund overview and resources:
  - Objective: Putting more and better data in the hands of decision-makers to enhance evidence-based macroeconomic policies and support achievement of the Sustainable Development Goals (SDGs).
  - Size, Target Countries and Period: $33.1 million for LLMICs, from June 2018 to June 2023.
  - Modules and indicative budgets:
    - M1: Addressing Data Needs and Quality Concerns — $18-20 million.
    - M2: Financial Access Survey (FAS) — $4-5 million.
    - M3: Online Learning — $6.5-8.5 million.
    - M4: Statistical Information Management — $0.5-1 million.
    - Additional module budgets listed as $6-7 million, $6 million, and $6-7 million correspond to further specified activities within the fund structure.

*From the D4D Progress Report and Work Plan, Statistics Department (D4D Fund overview and FAS event summaries).*

### Annex IV - D4D Fund Strategic Log Frame

### Annex IV - D4D Fund Strategic Log Frame

### D4D Fund’s Strategic Objective
- Assist LLMICs in strengthening national statistical systems to cope with a challenging national and international policy environment, promote transparency and accountability, and offer efficient solutions to capacity development.
- Impact outcome:
  - More and better data are available for decision-makers and analysts, with the ultimate objective of better informing economic policies and supporting monitoring of the SDGs.
  - Improvements in indicators across all macroeconomic and financial statistical domains.
- Data sources:
  - Dissemination on National Summary Data Pages (NSDPs), IMF and/or World Bank databases, and/or country web sites; IMF’s Article IV and program reports; follow-up assessments through IMF CD activities.

### Objective Module 1: Access to more and better data in three main statistical domains (real, external, and fiscal and debt statistics)
- Purpose:
  - Support policy analysis and formulation, detect economic risks and vulnerabilities, and enhance transparency and accountability.

#### Real Sector Statistics — Objective 1: High-frequency indicators of economic activity (HFIs)
- Rationale:
  - HFIs provide policymakers with information about the cyclical position of the economy to be able to adjust the policy mix in a way that eases economic volatility.
- Outcome indicators and targets:
  - Strengthened compilation and dissemination of well-defined, high-frequency indicators of economic activity.
  - Baseline: Currently about two-thirds of LLMICs compile some type of a monthly or quarterly economic activity indicator.
  - End-of-five-year-period targets:
    - supported at least 10 countries currently not producing HFIs to compile and disseminate an indicator for a significant activity/sector in the economy; and
    - assisted at least 15 additional countries to strengthen the compilation and dissemination of well-defined HFIs of economic activity.
- Data source: Follow-up assessments through IMF CD activities; dissemination on NSDPs, IMF databases, and/or country web sites.

#### Real Sector Statistics — Objective 2: National Accounts Benchmarking and Rebasing
- Rationale:
  - Benchmarking and rebasing every five to ten years ensures accurate reflection of structure and level of economic activity, strengthening evidence-based decision-making and international comparability (e.g., for SDG monitoring).
- Outcome indicators, baselines, and targets:
  - More timely re-basing/benchmarking of national accounts to enhance quality of GDP estimates.
  - Baselines:
    - Currently, about half of LLMICs have not updated their national account benchmarks/base year for more than 10 years.
    - More than 70 percent of LLMICs do not produce quarterly GDP in constant prices.
  - End-of-five-year-period targets:
    - supported at least 15 countries in the release of updated benchmark estimates of GDP based on improved source data and methods.
    - Specific source-data/method improvements to include:
      - Updated business registers in 10 countries ensuring a more comprehensive measure of business activity.
      - Updated business survey/program content in 15 countries ensuring the data collected / acquired aligns with the methodological framework of the 2008 SNA.
      - 10 new memorandums of understanding are signed and implemented to provide the NSO with access to data from outside government departments (e.g., tax authorities, social security programs).
      - 10 countries augment their existing prices statistics program with the release of new price index series important to the GDP rebasing exercise.
- Data sources and dissemination:
  - Follow-up assessments through IMF CD activities.
  - Revised national accounts published on NSO website with a revision report.
  - Reports on redesigned business register and updated questionnaires/published survey results disseminated via NSO public website.
  - MOUs signed and regular transfer of data measured by number of data transfers between the NSO and joint department.
  - New price series disseminated via NSO public website.

#### Real Sector Statistics — Objective 3: Residential Property Price Index (RPPI)
- Rationale:
  - RPPIs provide information about price trends in real estate relevant to assessing risks in banks’ balance sheets and detecting real estate–related financial vulnerabilities.
- Outcome indicators and targets by country group:
  - Strengthened compilation and dissemination of RPPIs, including development/improvement of statistical infrastructure, source data, serviceability, and metadata.
  - End-of-five-year-period interventions:
    - For around one-tenth of eligible countries that already have a basic RPPI:
      - bring compilation and dissemination in line with Handbook on Residential Property Price Indices guidelines and best practices; increase staff capacity through CD.
    - For around one-eighth of eligible countries currently working on RPPI compilation:
      - increase staff capacity through CD on source data, methods, and dissemination.
    - For around four-fifths of eligible countries with no RPPI:
      - regional workshops to provide training on data needs and methodology, with follow-up TA missions if sufficient progress in basic data collection.
- Data sources: Follow-up assessments through IMF CD activities (including workshop “before and after” quizzes/exams); dissemination on NSDPs, IMF databases, and/or country web sites.

### External Sector Statistics
- Objective:
  - Compile and disseminate high-quality balance of payments statistics to allow policymakers to monitor cross-border risks and vulnerabilities and facilitate analysis of global trade, digitalization, and financial integration.
- Outcome indicators and targets for balance of payments and trade:
  - More accurate and comprehensive data on international trade in goods and services to inform analysis of global trends, including global value chains and the digital economy.
  - End-of-five-year-cycle target:
    - provide more accurate and comprehensive data on international trade in goods and services for at least 15 eligible countries.
  - Progress indicators:
    - targeted countries develop and utilize new data sources to improve data quality;
    - new and/or improved data compiled and disseminated to facilitate analysis of global value chains and the digital economy;
    - improved coverage of goods, including measuring informal cross-border transactions.
  - Data sources: Follow-up assessments through IMF CD activities; dissemination on NSDPs, IMF databases, and/or country web sites; IMF Article IV and program staff reports.
- Outcome indicators and targets for financial account and remittances:
  - Strengthened analysis of cross-border risks and vulnerabilities through improved scope of key financial account components, including direct investment and external debt, and improved coverage of remittances.
  - End-of-five-year-cycle target:
    - provide more accurate and comprehensive coverage of the financial account and remittances in at least 15 eligible countries.
  - Progress indicators:
    - targeted countries develop and utilize new data sources to improve scope of the financial account and coverage of remittances;
    - coverage of private sector external debt transactions will be widened;
    - financial account data improved as evidenced by greater consistency between stocks and flows data.
  - Note: Improvements should reduce errors and omissions, but the errors-and-omissions metric may not show a linear trend.
  - Data sources: Follow-up assessments through IMF CD activities; dissemination on NSDPs, IMF databases, and/or country web sites; IMF Article IV and program staff reports.

### Fiscal and Debt Reporting
- Objective:
  - Improved government finance statistics (GFS) and public sector debt statistics (PSDS) to support fiscal policymaking, assessment and monitoring of fiscal risks and debt sustainability, and transparency and accountability.
- High-frequency GFS — outcomes and targets:
  - High-frequency GFS with improved data quality, frequency, and timeliness are compiled and disseminated to fiscal policymakers, the IMF, and the public.
  - For around one-third of LLMICs, one or more of the following improvements will be achieved (risk-based assessment):
    - frequency improved from annual to quarterly or from quarterly to monthly;
    - high-frequency GFS follow the latest GFS manual, including classifications and presentation of summary fiscal data;
    - institutional coverage expanded to help resolve policy-relevant fiscal risks;
    - internal consistency of GFS improved (e.g., reduction of statistical discrepancy);
    - scope of transactions and/or stock positions improved to capture policy-relevant items;
    - regular and sustained compilation and dissemination with improved timeliness;
    - dissemination of adequate metadata and documentation of business processes to enhance fiscal transparency and accountability.
  - Data sources: Follow-up assessments through IMF CD activities; dissemination on NSDPs, IMF databases, and/or country web sites; IMF Art. IV and program staff reports.
- High-frequency PSDS — outcomes and targets:
  - High-frequency PSDS, including data on contingent liabilities and arrears (as relevant), are compiled and disseminated for policymakers, the IMF (including PSDS databases), and the public.
  - For around half of LLMICs, one or more of the following improvements will be achieved (risk-based needs assessment):
    - frequency improved from annual to quarterly or from quarterly to monthly;
    - high-frequency PSDS follow PSDS Guide guidelines, including classifications and presentation of summary debt data;
    - institutional coverage expanded to identify fiscal risks (e.g., include debt of state-owned enterprises);
    - scope of stock positions improved to capture contingent liabilities and arrears;
    - regular and sustained compilation and dissemination with improved timeliness;
    - dissemination of adequate metadata and documentation of business processes to enhance transparency and accountability.
  - Data sources: Follow-up assessments through IMF CD activities; dissemination on NSDPs, IMF databases, and/or country web sites; IMF Art. IV and program staff reports, including debt sustainability analyses.

### Objective Module 2: Financial Access Survey (FAS) — financial inclusion statistics
- Purpose:
  - Provide policymakers and analysts with high-quality statistics on financial inclusion through the FAS database.
- Outcomes, indicators, and targets:
  - Continued production of the FAS, providing access to long time series on financial access.
    - The FAS survey is sent annually to all IMF members.
    - Data are validated by IMF staff according to reporting guidelines, with close follow-up with respondents.
    - Data are disseminated on a rolling basis (immediately following validation).
    - Data source: IMF FAS website.
  - Production of new data series to address changing data needs, with increasing coverage and scope.
    - By the end of the five-year D4D Fund period:
      - The annual response rate to the FAS is increased to 95 percent of the IMF membership.
      - The number of participating jurisdictions providing information on the gender breakdown of FAS is increased by two-fold compared to the 2017 benchmark.
      - The number of participating jurisdictions providing indicators of innovative channels of financial access is increased by 50 percent compared to the 2017 benchmark.
    - Data source: IMF FAS website.
  - Support SDG monitoring:
    - Provide the monitoring basis for the SDGs financial inclusion indicator (8.10.1).
    - Provide data on the number of commercial bank branches and ATMs per 100,000 adults on an annual basis, covering at least 90 percent of the world population.
    - Data published on the United Nations SDG Indicators Global Database.
  - Contribute to research and policy:
    - FAS data are used to create a global financial inclusion index.
    - FAS data are featured in IMF reports on financial inclusion, including country and policy documents as appropriate.
    - Data sources: IMF FAS website; published IMF reports and analytical publications.

### Objective Module 3: Online learning curriculum — expand global reach of statistics training
- Outcomes, courses, and rollout:
  - Development and implementation of a new online training curriculum covering ten fundamental statistical topical courses.
  - Translation in up to 5 languages.
  - Certification from online training established as entry requirement to improve efficiency of face-to-face intermediate and advanced training.
  - Phasing in of online courses:
    - One coming on-stream during Year 1,
    - two in Year 2-4,
    - and three in Year 5.
    - Priority to be given to most oversubscribed face-to-face courses.
  - Target: Increase reach of STA training by at least 50 percent by the end of the D4D Fund period.
  - Data source: IMF tracking system for online learning.

### Objective Module 4: Statistical information management — streamline, standardize, automate
- Outcomes and activities:
  - Disseminate and facilitate implementation of best practices in statistical data and metadata management and related international frameworks, including:
    - transferring knowledge on governance structures;
    - information on suitable technical standards and statistical information models;
    - advice on project design.
  - Enable recipient agencies to design and implement state-of-the-art statistical information management structures and tools, facilitating joining the IMF’s data dissemination standards and reducing countries’ reporting burdens.
  - Pilots:
    - Pilots in Kenya (2017), Lebanon, Egypt and/or Tunisia (planned for FY 2019) will guide selection of indicators to measure progress in this module.
  - Data source: Follow-up assessments through IMF CD activities.

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### Annex V - Operational Guidance Note (Endorsed at the June 15, 2021, Steering Committee Meeting)

### Purpose and scope
- The Data for Decisions (D4D) Fund is an IMF multi-partner initiative to put more and better data in the hands of decision-makers to enhance evidence-based macroeconomic policies and support achievement of the sustainable development goals. Operations started in June 2018.

### A. Steering Committee (SC)
- Role:
  - Provides strategic guidance, assists in setting priorities, and endorses work plans, budgets, and annual reports of the D4D Fund.
- Composition:
  - Composed of representatives from each Contributor of the D4D subaccount and the IMF.
- Chair and Vice-Chair:
  - SC is chaired by a Contributor with strong interest in D4D Fund operations.
  - The IMF proposes a Chair and a Vice Chair; they are elected by consensus.
  - Term of Chair and Vice Chair is one year; the Vice Chair seated at that time becomes the Chair at term end.
  - Principal role of Chair: preside over SC, host SC meeting (if desired), be consulted on agenda and contentious or urgent issues.
  - Vice Chair assumes Chair role when Chair is absent.
- Decisions:
  - SC decisions (including endorsement of work plan) made by consensus.
  - Each party entitled to a representative on the SC has one voice regardless of number of representatives in attendance.
  - If consensus not possible, proposed decision is postponed or withdrawn; SC may further define decision-making process during meetings.
  - When decisions required outside meetings, IMF convenes decision by circulation of an email to SC members with information and notification of period of non-objection if applicable.
  - Lapse-of-time decision-making period is 15 days but may be adjusted under special circumstances.
- Meetings:
  - SC meets in person or by videoconference annually; Chair may convene ad hoc meetings.
  - SC approves minutes of SC meetings prepared by the IMF.
  - Observers may be invited on a case-by-case basis at SC invitation; SC decides which observers may be invited and which part of meeting they attend.

### B. Work Plan
- Preparation:
  - A work plan is distributed three weeks before the relevant SC meeting.
- Changes requiring SC endorsement:
  - The SC endorses:
    - changes to objectives within a Module (for Modules 2, 3, 4) and Sub-modules (for Module 1);
    - the addition/removal of outcomes that result in Module/Sub-module budget changes of more than 25 percent.
  - For changes within the thresholds above (including budget-only changes of less than 25 percent), notification is provided to the SC at the next reporting point.
  - Thresholds are measured against the last endorsed proposal/budget/duration and multiple changes within limits cannot stretch beyond the threshold.
  - Modules and submodules correspond with internal controls at the “Funding Program” level (Module 2-FAS; Module 3-Online learning; Module 4-Statistical Information Management; Module 1 submodules: External Sector Statistics; Fiscal and Debt Reporting; Real Sector Statistics).

### C. Reporting
- Annual reporting:
  - Annually, the D4D Fund provides a report on its activities to the SC.
- Technical Assistance Reports:
  - The IMF provides Technical Assistance Reports (TAR) on the Partners Connect platform, accessible to all Contributors to the D4D Fund.

### D. Evaluation
- External evaluation:
  - Activities financed under the D4D Fund are subject to an external, independent evaluation.
  - The SC shall endorse the terms of reference and methodology to be used in the independent evaluation.

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_Source: https://www.imf.org/-/media/files/capacity-developement/d4d/june-2022/d4d-progress-report-and-work-plan.pdf_