## 2024 D4D Fund Annual Report and Work Plan ## Source details **Canonical URL:** [2024 D4D Fund Annual Report and Work Plan](https://www.imf.org/-/media/files/capacity-developement/d4d/june-2024/2024-d4d-fund-annual-report-and-work-plan.pdf) ## Other formats - [Markdown version](/-/media/files/capacity-developement/d4d/june-2024/2024-d4d-fund-annual-report-and-work-plan.pdf.md) - [Structured JSON version](/-/media/files/capacity-developement/d4d/june-2024/2024-d4d-fund-annual-report-and-work-plan.pdf.json) --- ### Executive summary — overall progress and priorities - The Data for Decisions (D4D) Fund is approaching the end of Phase I with country projects reaching maturity and more tangible results materializing. - IMF delivery guided by the Steering Committee priorities and by country and surveillance needs; transition from near- to medium-term capacity development (CD) objectives, return to in-person CD delivery, and wider use of blended learning were key drivers of stronger implementation in FY 2024. - CD activity rose by 44 percent in FY 2024 compared with the previous year. - Africa and fragile and conflict-affected states (FCS) remain the focus of D4D-funded CD; all but one D4D Fund eligible country have benefited — Only Eritrea has not benefited yet from the D4D Fund. - Final Phase I work plan concentrates on follow-up technical assistance (TA) to bring as many country projects as possible to successful closure and to boost program-level outcome indicator ratings in the strategic log frame. ### Module and program-level delivery — key findings - Modules and work streams show uneven progress: - Module 3 (Online Learning, OL): - Nine of the 12 online courses on macroeconomic statistics have been launched in English, with eight of those also available in French and Spanish. - Seventy course offerings have served over 13,500 learners. - Outcomes already fully achieved. - Module 2 (Financial Access Survey, FAS): - Financial Access Survey fully recovered from the pandemic and continues to grow in coverage and scope. - A Financial Access Survey Advisory Group was launched in 2023. - Outcomes already fully or largely achieved. - Module 1 (Addressing Data Needs and Quality Concerns): - GFS and PSDS showed marked advances; GFS phased in early in Phase I and PSDS frontloaded. - ESS outcomes mixed; countries launched new surveys and tapped new data sources but additional time needed for validation and full use. - NAS, HFI, and RPPI remain slower due to longer engagement horizons, underfunded national statistical systems, data source development, and sequencing challenges. - CD delivery dynamics in FY 2024: - Of the 187 planned CD activities for the 18-month work plan, 117 activities were implemented during the 12 months of FY 2024. - Most missions in FY 2024 were follow-up missions with typical intervals of six to ten months between missions; longer durations are common in FCS. - Coordination with development partners (World Bank, UNCTAD, FAO, WAEMU, WAIFEM, MEFMI, ADB, AfDB) widened to improve impact; IMF Regional Capacity Development Centers (RCDCs) were used jointly in some cases. ### Strategic log frame and expected end-of-Phase-I outcomes - Most program-level outcome indicators are expected to be fully or largely achieved by the end of Phase I, contingent on implementing the final work plan prioritizing follow-up TA. - Specific expectations: - OL and FAS outcomes are already met and have improved program-level ratings. - Accelerated follow-up TA in GFS and PSDS expected to materially improve program-level outcome indicator ratings. - SDMX implementation CD was paused until end-FY 2024 for technical analysis; CD will resume in FY 2025 with a new approach. - ESS: final work plan emphasizes follow-up missions to validate and operationalize new data sources. - RPPI and HFI: final work plan focuses on follow-up TA so several countries can complete development and launch of these statistical products by end-FY 2025. - GDP rebasing and related NAS outcomes are multi-year efforts; focusing on existing engagements is expected to yield fully or largely achieved outcomes in several countries. - Strategic log frame interim ratings (selected): - HFI interim rating: 1.6 - National Accounts Benchmarking and Rebasing interim rating: 1.2 - RPPI interim rating: 2.5 - External Sector Statistics (Top 15 countries) interim rating (trade in goods and services): 2.7; overall score: 2.1 - External Sector Statistics (financial account and remittances) interim rating (Top 15 countries): 2.5; overall score: 1.8 - GFS interim rating (Top 25 countries): 3.2; overall score: 2.7 - PSDS interim rating: 2.4 - FAS interim rating: 4; other FAS-related interim ratings: 3.7, 4, 3.5 - OL interim rating: 4 - SIM interim rating: 2.5 ### Country coverage, eligibility, and governance requests - Regional distribution and focus: - AFR accounted for half of D4D-funded CD delivery to date; APD and MCD followed. - Among 87 D4D-eligible countries in FY 2024, more than a third are FCS. - More than two-thirds of FCS benefited from D4D-funded CD during the work plan cycle; remaining non-beneficiaries face adverse political or security situations. - Temporary eligibility extension: - In October 2022, the Steering Committee temporarily granted D4D eligibility to five countries near the LLMIC income threshold; four of these received D4D-funded statistics CD. - Proposal to extend the temporary expansion of country eligibility until the end of Phase I; STA will assess the new World Bank list for LLMICs (probably in July 2024) and propose an updated list for SC endorsement in October 2024. - Governance and Steering Committee (SC) endorsement sought for: - (i) the final work plan of Phase I and associated budget; and - (ii) continuation of the flexible rules (established June 2020) regarding country eligibility to the D4D Fund until the end of Phase I. - SC arrangements and process highlights: - SC decisions made by consensus; lapse-of-time decision making period is 15 days but may be adjusted. - Chair and Vice-Chair terms: one year; Vice Chair becomes Chair at term end. - Work plan distributed three weeks before SC meeting; SC endorses changes exceeding 25 percent of module/sub-module budgets. ### Financial situation and budgetary highlights - Implementation and spending: - Steering Committee endorsed an 18-month work plan at its June 2023 meeting and approved cumulative projected spending of $28.6 million by end-FY 2024. - Actual cumulative spending by end-FY 2024 is $26.7 million, within projection. - Contributions and available envelope: - Partners signed for total contributions of $31.7 million; $31.2 million have been received. - Once the remaining contribution is received, the overall available budget envelope for Phase I will be $33.3m, against an initial envelope of $33.1m. - The difference between contributions ($31.7m) and the overall Phase I budget envelope ($33.3m) is explained by interests earned on the D4D subaccount during the phase. - Forward planning and Phase II: - The second phase of the D4D Fund is scheduled to start at the beginning of FY 2026; IMF fundraising efforts for Phase II are underway with a program document presented at the June 2024 Steering Committee meeting. - An additional budget request of $1.2 million will exhaust the Phase I budget envelope and covers only FY 2025 (May 2024 to April 2025). - Activities in May–June 2025 bridge Phases I and II and will be funded by Phase II. - With approval of additional budget of $1,238,315 required for the new work plan, the IMF will utilize the entire budget envelope available for Phase I. - Table 12 budget subtotal (items no. 1-8): $30.97 million (subtotal as shown in Table 4). ### Ad hoc advisory facility and remote targeted assistance - Demand for shorter targeted and remote ad hoc interventions has slowed as countries focus on medium-term objectives. - During May 2023–April 2024, STA addressed 38 requests for ad hoc assistance, continuing a downward trend identified in FY 2023. - Most ad hoc requests were on debt and fiscal reporting and came primarily from MCD and AFR, particularly FCS. - Financial utilization of the ad hoc advisory envelope: - $225,290 of the $292,000 budget endorsed for ad hoc advisory services has been spent so far. - STA proposes to use the remainder of the envelope to meet emerging demands until end-2024; any unused amount will be reallocated to other CD activities within Module 1 in January 2025. ### Overall work program: May 2024 to June 2025 — scope and uncertainties - Proposed work program covers May 2024 to June 2025. - Budget and planning: - An additional budget request of $1.2 million will exhaust the Phase I budget envelope and covers only FY 2025 (May 2024 to April 2025). - Activities in May–June 2025 bridge Phases I and II and will be funded by Phase II. - Table 4 budget anticipates a strong FY 2025 work plan across all work streams, using a mix of in-person, blended, and virtual CD activities, and completion of all online learning course development, including translation work. - Projections are subject to moderate uncertainty about the pace of implementation. ### Module I — Addressing Data Needs and Quality Concerns: overview and submodules - Objective: support development of more robust and consistent macroeconomic statistics in beneficiary countries to inform policymaking and support early detection and monitoring of economic risks and vulnerabilities. - Emphasis on close cooperation with IMF Area Departments and external development partners (World Bank, AfDB, UNCTAD) to prioritize work given absorptive capacity constraints in many LLMICs. - Module I submodules: - Real Sector Statistics (RSS) - External Sector Statistics (ESS) - Fiscal and Debt Reporting (GFS/PSDS) ### Real Sector Statistics — National Accounts Benchmarking and Rebasing (progress and future plan) - Achievements: - Rebased GDP estimates finalized and reviewed in: - Angola (previous reference year 2000) — published the rebased GDP in May 2024 on the NSO website. - Cambodia (previous reference year 2002) — yet to publish. - Central African Republic (previous reference year 2005) — yet to publish. - TA to Republic of Congo to update reference year from 2005 to 2022; updates planned to be completed by end of 2025. - SUIT compilation workshop for APD countries (with ADB) to encourage broader use of supply, use, and input-output tables (SUIT). - Assistance to compile SUIT provided to Ghana (2019 SUIT) and continued support to Vietnam for planned benchmark revision to be completed in 2025. - Support to the Philippines to harmonize sectoral accounts developed by its Central Bank and NSO. - Multilateral assistance and training to WAEMU member countries to improve harmonized CPI compilation; updated index to be disseminated in early 2025. - Support to develop new PPIs in India, Pakistan, and Zambia; expand PPI coverage to services in the Philippines. - D4D-funded assistance led to Kiribati compiling and disseminating a new CPI with updated weights in September 2023; Bhutan updating weights for both the PPI and CPI; Tunisia updating XMPI weights. - Future priorities and planned activities: - Complete GDP rebasing in Sierra Leone and Vietnam. - Finalize harmonized institutional sector accounts estimates in the Philippines. - Finalize new harmonized CPI for WAEMU member countries. - Missions to support dissemination of new PPIs for India; continue PPI development in Pakistan, the Philippines, and Zambia. - Complete updated CPI for Bhutan and updated XMPI for Tunisia. - New engagements responding to country requests: Lebanon (establish new PPI), Mozambique (GDP rebasing), Namibia (update PPI weights), Vietnam (establish institutional sector accounts). - Inclusion of eight placeholder activities for flexibility. - Implementation statistics: - Of the 35 CD activities in the 18-month work plan, 22 were implemented in FY 2024. ### High-Frequency Indicators (HFIs) — progress and FY 2025 plan - Rationale: policymakers required timely economic data during and after the pandemic. - Mongolia case: - MIEG development initiated March 2019; experimental index compiled in March 2021; pilot MIEG shared with national policymakers since April 2022. - Mongolia aiming to launch their MIEG in October 2024; public dissemination planned by end of October 2024. - Implementation statistics: - Of the 24 CD activities in the 18-month work plan, 16 were implemented in FY 2024. - CD delivery resulted in 11 economies initiating MIEG development and two training workshops in FY 2024. - Country-level progress includes Cambodia, Chad, São Tomé and Príncipe, Uganda, Cameroon, Central African Republic, Ghana, Madagascar, Namibia, Zambia, Zimbabwe. - Training: three workshops organized during the reporting period in AFR and WHD regions; additional regional events described in Annex II. - FY 2025 planned assistance: - Resume or continue HFI development in Bhutan, Cameroon, Ghana, Mauritania, Uganda, Zimbabwe. - Assistance for index of industrial production or monthly sectoral index in Bangladesh, Belize, Cabo Verde, Lebanon, Sri Lanka. - Seven placeholders and one training workshop to MCD countries planned; blended delivery considered. ### Residential Property Price Indexes (RPPI) — purpose, case study, and work plan - Purpose and methods: - Reliable RPPIs empower policymakers to monitor real estate markets and assess impact on macroeconomic and financial stability. - Source data is the most prominent challenge; CD uses flexible approaches including Big Data techniques and publicly available property listings. - Mongolia RPPI case study: - New monthly RPPI compiled following D4D-funded TA between 2019 and 2023; published about 10 days after the reference month in a News Release. - Uses listings data from the principal property portal (www.unegui.mn); applies refined quality adjustment and improved accuracy compared with previous approach. - Authorities plan further improvements in coming years. - Progress and FY 2025 plan: - Of the 17 CD activities in the 18-month RPPI work plan, 10 were implemented in FY 2024. - Country approaches: Georgia, Jordan, Uganda improved RPPIs using online listings; Cambodia, Lesotho, Philippines using mortgage data; Armenia and Vietnam using administrative sources; Armenia compiled experimental indexes with full dissemination expected in 2025. - Two RPPI workshops held in FY 2024 for APD and MCD countries. - Work plan includes ten countries with 14 TA missions to be delivered in FY 2025, plus three placeholders and one WHD training workshop; net change in updated RPPI work plan: +7 countries/activities. - Updated country engagements and missions planned for Armenia, Bangladesh, Cambodia, Georgia, Jordan, Lesotho, Philippines, Suriname, Uganda, Vietnam; three placeholder missions included; WHD regional workshop planned. ### External Sector Statistics (ESS) — achievements, challenges, and future work - Importance and context: - High-quality ESS pivotal for monitoring exposures to external shocks and for formulating monetary, financial and exchange rate policies; globalization and digitalization increase measurement challenges. - Implementation statistics: - Of the 40 activities in the 18-month ESS work plan, 25 were implemented in FY 2024. - Selected achievements: - Gambia began compiling and disseminating an annual IIP for the first time in 2023. - Rwanda began compiling and disseminating the monthly international reserves and foreign currency liquidity template for the first time in 2023. - Improved source data and inclusion of new data sources in Djibouti, Liberia, Mali, São Tomé and Príncipe, Sierra Leone, Zambia, and Zimbabwe. - Closing data gaps on trade in goods and services in numerous countries (Cameroon, Central African Republic, Republic of Congo, Democratic Republic of Congo, Equatorial Guinea, Guinea, Liberia, Mali, Uzbekistan, Zimbabwe). - Enhanced debt data quality and coverage in Central African Republic, Republic of Congo, Democratic Republic of Congo, Equatorial Guinea, Guinea, Liberia, Mali. - Progress toward compiling quarterly BOP (Gabon) and IIP statistics (Madagascar); compiled reliable reserve assets data in Namibia; improved consistency between BOP and IIP in Rwanda; improved oil exploration transaction estimates in São Tomé and Príncipe. - Assisted Ghana in the transition to BPM6 methodology. - Expanded staff capacity via regional blended workshops on international trade in services and digital trade. - Resident Advisor for Central Africa: - Assumed position in November 2023 and conducted five diagnostic missions (Cameroon, Republic of Congo, Democratic Republic of Congo, Equatorial Guinea, São Tomé and Príncipe). - Following missions, 2022 BOP statistics for Economic and Monetary Community of Central Africa countries were disseminated on the Bank of Central African States’ website. - STA coordinating with World Bank to secure financing for updating ESS compilation software. - Future plan: - Unimplemented CD activities rolled over to the new work plan (except Sudan). - Planned follow-up CD, Resident Advisor missions, and new CD demand to address IMF country teams’ key concerns. - Training to continue focusing on improving ESS compilation, including reserves. - Missions rescheduled from FY 2024 to FY 2025 include Kiribati and Somalia; multiple other missions rescheduled or included in new work plan. - Fifteen placeholder missions and three thematic blended workshops planned for FY 2025 (informal trade, ESS for MEFMI/WAIFEM, Reserves for WHD countries). ### Fiscal and Debt Reporting (GFS/PSDS) — context, delivery, and priorities - Context and risks: - Global public debt has risen; many low-income countries and emerging market economies are in or at high risk of debt distress. - On average, these countries carry heavy debt-service burdens: measured at 13 percent of total spending and almost 25 percent of tax revenues in 2023 — which is almost double than 15 years ago. - About 54 percent of low-income countries and 16 percent of emerging market economies were considered in or at high risk of sovereign debt distress in 2023. - CD delivery and results: - Out of 62 CD activities in the 18-month fiscal and debt reporting work plan, 42 CD activities were delivered in FY 2024 (compared with 25 CD activities delivered in FY 2023). - Nine activities were cancelled or postponed to FY 2025 (Benin, Bolivia, Comoros, Morocco, Niger, Senegal, Sri Lanka, Sudan, and Tunisia). - CD prioritized FCS: 13 delivered FY 2024 CD activities directly benefited FCS (Burkina Faso, Cameroon, Chad, Burundi, Central African Republic, Republic of Congo, Ethiopia, Guinea Bissau, Lebanon, Papua New Guinea, Timor-Leste, Yemen, and Zimbabwe). - Capacity building and outcomes: - Staff training embedded in single-country CD supports; used RCDCs to address post-pandemic staff turnover and surging CD demand. - Training content included basic concepts, accounting rules, sectorization, consolidation, GFSM 2014 framework, and PSDSG 2011. - Examples: - In Kenya and Zimbabwe, 92 public officials were trained from ministries of finance, local governments, state governments, and national statistics offices. - Over 20 Yemen officials trained through hybrid and blended in-person CD missions. - Regional and country-specific improvements include creation/update of bridge tables aligned with GFSM 2014 and PSDSG 2011, expanded institutional coverage (e.g., Burundi extended PSDS coverage from BCG to GG), compilation of SOE debt statistics (Papua New Guinea), and reconciliation improvements (Angola, Tajikistan, Lesotho, Burkina Faso). - Work plan and priorities for last year of Phase I: - CD delivery will focus on achieving D4D program outcomes in the strategic log frame. - Prioritization: eligible countries with high absorptive capacity and the twelve FCS. - Proposed activities: 36 CD activities for the 14-month work plan, broadly equally distributed across PSDS and GFS work streams. - STA will continue to evaluate additional needs and accommodate them through blended modalities. ### Regional workshops, training delivery, and capacity-building highlights - Regional in-person workshop in Cotonou, Benin (with AFRITAC West) delivered hands-on training and peer-to-peer learning to 35 participants from AFW member countries (except Niger) and others. - Regional training workshop on COFOG compilation using national budget datasets covered hands-on compilation and reporting. - GFSx online small private online course (SPOC) in Spanish benefited over 147 participants from 25 countries (note: elsewhere reported enrollment of 87 participants from 21 countries for August–September 2023 run). - RPPI training: two regional workshops in APD (Bangkok) and MCD (Tbilisi) in FY 2024 trained 44 staff from 21 countries. - ESS blended workshops on international trade in services and digital trade reached officials across AFR, APD, MCD, and EUR regions. ### Financial Access Survey (FAS) — pilot, advisory group, validation, and next steps - Pilot data collection launched in February 2024 to assess feasibility of expanding gender-disaggregation and digital financial services data. - More than 75 countries have submitted pilot data as of April 2024; several others indicated they will submit in the coming weeks. - FAS Advisory Group: - Established October 2023 with 20 members including senior IMF staff, senior officials from international financial institutions, deputy governors from central banks, and academics. - Inaugural virtual meeting November 2023; second in-person meeting April 22, 2024 in Washington D.C. - Mandate includes identifying gaps, refining scope and methodologies, and facilitating outreach and data application. - Members’ tenure set for two years; Group will meet once a year in hybrid format with additional meetings as needed. - Actionable ideas include maximizing complementarity with other financial inclusion databases, leveraging partner networks, coordinating training, and assessing supply-demand differences. - Data validation and tools: - Enhanced validation tools: automated data visualization and outlier detection; comparison with external sources such as Global System for Mobile Communications. - Internal FAS Tool launched in November 2023 to facilitate IMF staff usage; enables easy retrieval of FAS series and ready-to-use charts. - Future FAS activities and CD: - Regional capacity development (in-person and virtual) planned; in-person AFR workshop in collaboration with Africa Training Institute in December 2024. - Shorter targeted webinars replacing prior APD workshop; webinar topics include FAS pilot outcomes, methodology, and policy applications. - Preparation of a gender methodology note to explain methodological issues and usage examples; survey to assess application of online-course knowledge planned with estimated cost $25,000. - If necessary, a second pilot may be organized in FY 2025 before proposing additional series for inclusion in the regular FAS questionnaire. ### Programmatic issues, placeholders, and flexibility - Work plans include multiple placeholders across work streams to ensure flexibility and rapid response capacity: - Eight placeholders in NAS/SUIT work stream. - Seven placeholders in HFI work plan. - Three placeholder missions in RPPI work program. - Fifteen placeholder missions in ESS FY 2025 plan. - Five placeholder allocations and three provisional placeholders in PSDS/GFS planning. - Emphasis on blended modalities (virtual TA, blended training, in-person missions) to manage absorptive capacity constraints and staff turnover. *Source: IMF — Data for Decisions (D4D) Fund — 2024 Annual Report and Work Plan.* ### EXECUTIVE SUMMARY __________________________________________________________________________ 6 ### 2024 D4D Fund Annual Report and Work Plan — EXECUTIVE SUMMARY ### Executive summary — overall progress and priorities - The Data for Decisions (D4D) Fund is approaching the end of Phase I with country projects reaching maturity and more tangible results materializing. - IMF delivery of the work program was guided by the Steering Committee priorities and by country and surveillance needs; a transition from near- to medium-term capacity development (CD) objectives, the return to in-person CD delivery, and wider use of blended learning were key drivers of stronger implementation in FY 2024. - CD activity rose by 44 percent in FY 2024 compared with the previous year. - Africa and fragile and conflict-affected states (FCS) remain the focus of D4D-funded CD; all but one D4D Fund eligible country have benefited — Only Eritrea has not benefited yet from the D4D Fund. - The final work plan for Phase I concentrates on follow-up technical assistance (TA) to bring as many country projects as possible to successful closure and to boost program-level outcome indicator ratings in the strategic log frame. ### Module and program-level delivery — key findings - Modules and work streams show uneven progress: - Module 3 (Online Learning, OL): Outcomes already fully achieved. - Nine of the 12 online courses on macroeconomic statistics have been launched in English, with eight of those also available in French and Spanish. - Seventy course offerings have served over 13,500 learners. - Module 2 (Financial Access Survey, FAS): Outcomes already fully or largely achieved. - The Financial Access Survey fully recovered from the pandemic and continues to grow in coverage and scope; a Financial Access Survey Advisory Group was launched in 2023. - Module 1 (Addressing Data Needs and Quality Concerns): Mixed progress across submodules. - Government Finance Statistics (GFS) and Public Sector Debt Statistics (PSDS) showed marked advances; GFS was phased in early in Phase I and PSDS was frontloaded. - External Sector Statistics (ESS) outcomes have been mixed; countries launched new surveys and tapped new data sources but additional time is needed for validation and full use. - National Accounts Statistics (NAS), High-Frequency Indicators (HFI), and Residential Property Price Indexes (RPPI) remain slower to materialize due to longer engagement horizons, underfunded national statistical systems, data source development, and sequencing challenges. - CD delivery dynamics in FY 2024: - Of the 187 planned CD activities for the 18-month work plan, 117 activities were implemented during the 12 months of FY 2024. - Most missions in FY 2024 were follow-up missions, with typical intervals of six to ten months between missions for implementation of recommendations; longer durations are common in FCS. - Coordination with development partners (World Bank, UNCTAD, FAO, WAEMU, WAIFEM, MEFMI, ADB, AfDB) widened to improve impact; IMF Regional Capacity Development Centers (RCDCs) were used jointly in some cases (notably GFS/PSDS refresher training). ### Strategic log frame and expected end-of-Phase-I outcomes - Most program-level outcome indicators are expected to be fully or largely achieved by the end of Phase I, contingent on implementing the final work plan that prioritizes follow-up TA to countries close to achieving results. - Specific expectations: - OL and FAS outcomes are already met and have improved program-level ratings. - Accelerated follow-up TA in GFS and PSDS is expected to materially improve program-level outcome indicator ratings. - SDMX implementation CD was paused until end-FY 2024 for technical analysis; CD will resume in FY 2025 with a new approach. - ESS: final work plan emphasizes follow-up missions to validate and operationalize new data sources. - RPPI and HFI: final work plan focuses on follow-up TA so several countries can complete development and launch of these statistical products by end-FY 2025. - GDP rebasing and related NAS outcomes are multi-year efforts; focusing on existing engagements is expected to yield fully or largely achieved outcomes in several countries. ### Country coverage and eligibility - Regional distribution and focus: - AFR accounted for half of D4D-funded CD delivery to date; APD and MCD followed. - Among 87 D4D-eligible countries in FY 2024, more than a third are FCS. - More than two-thirds of FCS benefited from D4D-funded CD during the work plan cycle; remaining non-beneficiaries face adverse political or security situations. - Temporary eligibility extension: - In October 2022, the Steering Committee temporarily granted D4D eligibility to five countries near the LLMIC income threshold; four of these received D4D-funded statistics CD. - A continuation of this eligibility extension to the next work plan is proposed with the same criteria. ### Ad hoc advisory facility and remote targeted assistance - Demand for shorter targeted and remote ad hoc interventions has slowed as countries focus on medium-term objectives. - During May 2023–April 2024, STA addressed 38 requests for ad hoc assistance, continuing a downward trend identified in FY 2023. - Most ad hoc requests were on debt and fiscal reporting and came primarily from MCD and AFR, particularly FCS. - Financial utilization of the ad hoc advisory envelope: - $225,290 of the $292,000 budget endorsed for ad hoc advisory services has been spent so far. - STA proposes to use the remainder of the envelope to meet emerging demands until end-2024; any unused amount will be reallocated to other CD activities within Module 1 in January 2025. ### Financial situation and budgetary highlights - Implementation and spending: - The Steering Committee endorsed an 18-month work plan at its June 2023 meeting and approved cumulative projected spending of $28.6 million by end-FY 2024. - Actual cumulative spending by end-FY 2024 is $26.7 million, within projection. - Contributions, receipts, and available envelope: - Partners signed for total contributions of $31.7 million; $31.2 million have been received. - Once the remaining contribution is received, the overall available budget envelope for Phase I will be $33.3m, against an initial envelope of $33.1m. - The difference between contributions ($31.7m) and the overall Phase I budget envelope ($33.3m) is explained by interests earned on the D4D subaccount during the phase. - Forward planning: - The second phase of the D4D Fund is scheduled to start at the beginning of FY 2026; IMF fundraising efforts for Phase II are underway with a program document presented at the June 2024 Steering Committee meeting. ### Governance and Steering Committee requests - The IMF seeks the Steering Committee’s endorsement of: - (i) the final work plan of Phase I and associated budget; and - (ii) continuation of the flexible rules (established June 2020) regarding country eligibility to the D4D Fund until the end of Phase I. *Source: IMF — Data for Decisions (D4D) Fund — 2024 Annual Report and Work Plan (Executive Summary).* ### 11. The proposed work program is for May 2024 to June 2025. However, the required additional ### 11. The proposed work program is for May 2024 to June 2025. ### Overall work program and budget - The proposed work program covers May 2024 to June 2025. - An additional budget request of $1.2 million will exhaust the Phase I budget envelope and covers only FY 2025 (May 2024 to April 2025). - Activities in May–June 2025 bridge Phases I and II and will be funded by Phase II. - The budget proposal in Table 4 anticipates a strong FY 2025 work plan across all work streams, using a mix of in-person, blended, and virtual CD activities, and completion of all online learning course development, including translation work. - Projections are subject to moderate uncertainty about the pace of implementation. - Financial and Phase I envelope details: - Total contributions of $31.7 million were received against the original program budget envelope of $33.1 million for Phase I. - Due to interests earned and net foreign exchange gains, an additional $1.6 million make up the final $33.35 million budget envelope for Phase I. ### Module I: Addressing Data Needs and Quality Concerns — overview - Objective: support development of more robust and consistent macroeconomic statistics in beneficiary countries to inform policymaking and support early detection and monitoring of economic risks and vulnerabilities. - Emphasis on close cooperation with IMF Area Departments and external development partners (World Bank, AfDB, UNCTAD) to prioritize work given absorptive capacity constraints in many LLMICs. - Module I submodules: - Real Sector Statistics (RSS) - External Sector Statistics (ESS) - Fiscal and Debt Reporting (GFS/PSDS) ### Submodule: Real Sector Statistics — progress and constraints - D4D Fund support enabled NSOs in LLMICs to start developing new indicators such as HFIs and RPPIs and to resume national accounts benchmarking exercises paused during the pandemic. - Identifying and assessing source data for new datasets (HFIs, RPPIs) and national accounts rebasing is time consuming, causing slower progress in this submodule. - Of the 35 CD activities in the 18-month work plan, 22 were implemented in FY 2024. ### Work stream: National Accounts Benchmarking and Rebasing — key achievements - Rebased GDP estimates were finalized and reviewed in: - Angola (previous reference year 2000) — published the rebased GDP in May 2024 on the NSO website. - Cambodia (previous reference year 2002) — yet to publish. - Central African Republic (previous reference year 2005) — yet to publish. - TA to Republic of Congo to update reference year from 2005 to 2022; updates planned to be completed by end of 2025. - A SUIT compilation workshop was conducted for APD countries in collaboration with the Asian Development Bank to encourage broader use of supply, use, and input-output tables (SUIT) in benchmark revisions. - Secondary objective: collect data for the Global Input-Output Accounts initiative. - Assistance to compile SUIT provided to Ghana (2019 SUIT) and continued support to Vietnam for a planned benchmark revision to be completed in 2025, with improvements in measurement of the informal sector and housing services. - Support to the Philippines to harmonize current sectoral accounts developed by its Central Bank and NSO to improve institutional sector accounts. - A workshop for AFR compilers in collaboration with UNCTAD addressed measuring impacts of digital activities, including identifying/classifying digital companies, measuring digital trade, digital SUIT, and mobile money/e-wallets. - Multilateral assistance and training to WAEMU member countries to improve compilation and index calculation methods of the harmonized CPI (benefits for eight WAEMU member countries and the aggregate regional index). - The project to update the harmonized CPI will wrap up later in 2024; the updated index will be disseminated in early 2025. - Support provided to develop new PPIs in India, Pakistan, and Zambia; assistance to expand PPI coverage to services in the Philippines. - D4D-funded assistance led to: - Kiribati compiling and disseminating a new CPI with updated weights in September 2023 (updated basket based on 2019/20 Household Income and Expenditure Survey; outlet sample expanded from 3 to 23; geometric averaging introduced at the elementary index level). - Bhutan updating weights for both the PPI and CPI. - Tunisia updating XMPI weights to reflect post-pandemic trade patterns. ### Work stream: National Accounts Benchmarking and Rebasing — future work plan and country priorities - Focus country selections on completing objectives begun in Phase I. - Planned support to complete GDP rebasing in Sierra Leone and Vietnam. - Finalize harmonized institutional sector accounts estimates in the Philippines. - Finalize the new harmonized CPI for WAEMU member countries. - Missions to support dissemination of new PPIs for India; continue PPI development in Pakistan, the Philippines, and Zambia. - Complete updated CPI for Bhutan and updated XMPI for Tunisia. - New engagements responding to country requests: - Lebanon: establish new PPI. - Mozambique: GDP rebasing. - Namibia: update PPI weights. - Vietnam: establish institutional sector accounts. - Inclusion of eight placeholder activities to ensure flexibility to support countries most likely to achieve objectives by end of the work plan. - Planned AFR SUIT workshop and other regional activities. ### Work stream: High-Frequency Indicators (HFIs) — progress - STA outreach during the pandemic increased demand for HFI TA; policymakers required timely economic data for business continuity and post-pandemic recovery. - Example: Mongolia - MIEG development initiated March 2019; TA mission in September 2019; experimental index compiled in March 2021; pilot MIEG shared with national policymakers since April 2022. - Mongolia is aiming to launch their MIEG in October 2024; public dissemination planned by end of October 2024. - Of the 24 CD activities in the 18-month work plan, 16 were implemented in FY 2024. - Country-level progress: - Cambodia: initiated development of HFIs with assistance for quarterly GDP templates. - Chad: assessed availability of short-term indicators and guided data collection/analysis to supplement quarterly GDP compilation. - São Tomé and Príncipe: stock-taking of monthly and quarterly data for QNA and HFIs and recommendations on data sharing and statistical techniques to support HFI launch. - Uganda: MIEG compilation workshop to enhance coordination among NSO, Ministry of Finance, Planning and Economic Development, and Central Bank; targeted production of updated industrial production index to be integrated into QNA and MIEG; follow-up planned to prepare for publication of updated series by end-2024. - Cameroon, Central African Republic, Ghana, Madagascar, Namibia, Zambia, and Zimbabwe: assisted with stock-taking of available data, identifying required sources, constructing frameworks, and developing MIEG work plans. - Training demand: three workshops organized during the reporting period in AFR and WHD regions with participants from NSOs, CBs, and ministries of finance. ### Work stream: High-Frequency Indicators — future work plan and planned assistance - FY 2025 – FY 2026 (May-June) work plan reflects growing interest and includes countries identified by IMF country teams and direct requests from national authorities. - Planned additional assistance to resume or continue HFI development in: - Bhutan, Cameroon, Ghana, Mauritania, Uganda, Zimbabwe. - Planned assistance for index of industrial production or monthly sectoral index in: - Bangladesh, Belize, Cabo Verde, Lebanon, Sri Lanka. - TA postponed for Bolivia, Ethiopia, Madagascar, Sierra Leone, and Zambia as these countries prioritized other work programs; TA can be provided upon request. - Seven placeholders included in the work plan to meet unforeseen demand from countries. - One training workshop to MCD countries planned for FY 2025 to address unmet demand for HFI training in that region. *Statistics Department, D4D Fund Phase I final work plan (May 2024–June 2025), IMF.* ### 26. Reliable RPPIs empower policymakers to monitor the state of the real estate market and ### Reliable RPPIs empower policymakers to monitor the state of the real estate market and assess its potential impact on macroeconomic and financial stability ### Residential Property Price Indexes (RPPI): purpose and methods - Reliable property price indexes and other indicators of real estate markets are critical ingredients for policymakers to assess the state of the real estate market and its potential impact on macroeconomic and financial stability. - Source data is the most prominent challenge in RPPI compilation; capacity development (CD) delivery uses flexible approaches to generate data from different sources, including Big Data techniques to acquire publicly available property listings. ### Case study — Mongolia RPPI (Box 3) - The NSO developed a new monthly RPPI following intensive D4D-funded TA between 2019 and 2023, replacing an earlier quarterly version compiled using basic methods. - The new RPPI: - Is compiled monthly and published about 10 days after the end of the reference month in a News Release. - Uses listings data from the principal property portal (www.unegui.mn) to exploit a significantly larger sample of observations. - Applies more refined quality adjustment and improved accuracy compared with the previous approach. - The successful launch resulted from collaboration among Mongolia’s authorities and significant support provided by IMF experts, funded by the D4D Fund. - Authorities plan further improvements to the index in the coming years. ### RPPI progress achieved and FY 2025 work plan - Of the 17 CD activities in the 18-month work plan, 10 were implemented in FY 2024. - Country approaches to source data: - Georgia, Jordan, and Uganda improved published RPPIs using online listings data. - Cambodia, Lesotho, and the Philippines identified mortgage data as the best source to refine quality-adjusted indexes (Cambodia, Philippines) or to develop an RPPI for the first time (Lesotho). - Armenia and Vietnam do not have existing RPPIs but are using administrative data sources (register and tax data); Armenia has compiled experimental indexes with full dissemination expected in 2025. - Two RPPI workshops were held in FY 2024 for APD and MCD countries. - The overall work plan focuses on countries fully engaged in developing or improving indicators: - Ten countries are included in the work plan for a total of 14 TA missions to be delivered in FY 2025. - In addition to named countries, there are three placeholders and one training workshop targeting the WHD region. - Net change in the updated RPPI work plan: +7 countries/activities. ### External Sector Statistics (ESS): achievements, challenges, and future work - High quality ESS is pivotal for monitoring exposures to external shocks and for formulating monetary, financial and exchange rate policies. - Globalization and digitalization create new measurement challenges for compiling BOP, IIP and NAS. - Examples of ESS outputs supported by D4D-funded TA: - The Gambia began compiling and disseminating an annual IIP for the first time in 2023, addressing a key data gap for external vulnerability analysis and IMF surveillance. - Rwanda began compiling and disseminating the monthly international reserves and foreign currency liquidity template for the first time in 2023, improving transparency and timeliness of reserves information. - The G20 and other global initiatives to address soaring external debt in LLMICs increase the need for enhanced recording of external debt statistics (EDS). - Progress and implementation: - Of the 40 activities in the 18-month ESS work plan, 25 were implemented in FY 2024. - Slow pace in implementing previous TA recommendations slowed follow-up CD readiness for remaining activities. - Notable ESS achievements: - Improved source data quality and inclusion of new data sources (specialized surveys, international transactions reporting system, administrative data) in Djibouti, Liberia, Mali, São Tomé and Príncipe, Sierra Leone, Zambia, and Zimbabwe. - Closing data gaps on trade in goods and services, including informal transactions, in Cameroon, Central African Republic, Republic of Congo, Democratic Republic of Congo, Equatorial Guinea, Guinea, Liberia, Mali, Uzbekistan, and Zimbabwe. - Enhanced debt data quality, timeliness, and coverage in Central African Republic, Republic of Congo, Democratic Republic of Congo, Equatorial Guinea, Guinea, Liberia, and Mali. - Improved data collection systems toward compiling quarterly BOP (Gabon) and IIP statistics (Madagascar). - Compiled reliable reserve assets data in Namibia and improved consistency between BOP flows and IIP positions. - Improved consistency of ESS flows and positions in Rwanda and improved estimates for oil exploration transactions in São Tomé and Príncipe. - Enhanced records on cross border money transfers and foreign currency in circulation estimates in Uzbekistan. - Assisted Ghana in the transition to BPM6 methodology. - Expanded staff capacity via regional blended workshops on international trade in services and digital trade, and a workshop on Digital Trade for African countries; additional BOP and IIP training was delivered to WAIFEM member countries. - Resident Advisor for Central Africa (D4D-funded) activities: - Assumed position in November 2023 and conducted five diagnostic missions (Cameroon, Republic of Congo, Democratic Republic of Congo, Equatorial Guinea, and São Tomé and Príncipe). - Following missions, 2022 BOP statistics for Economic and Monetary Community of Central Africa countries were disseminated on the Bank of Central African States’ website. - STA is coordinating with the World Bank to secure financing for updating ESS compilation software. - Moving forward: - Unimplemented CD activities from the previous work plan have been rolled over to the new work plan (except Sudan). - Planned follow-up CD, Resident Advisor missions (diagnostic, follow-up, training), and new CD demand to address IMF country teams’ key concerns. - Training will continue to focus on improving ESS compilation, including reserves. ### Fiscal and Debt Reporting (GFS/PSDS): context, delivery, and capacity building - Context and risks: - Global public debt has risen in recent years; many low-income countries and emerging market economies are in or at high risk of debt distress. - On average, these countries carry heavy debt-service burdens, measured at 13 percent of total spending and almost 25 percent of tax revenues in 2023 — which is almost double than 15 years ago. - About 54 percent of low-income countries and 16 percent of emerging market economies were considered in or at high risk of sovereign debt distress in 2023. - Policy direction: - Restoring debt sustainability and averting a "systemic" debt crisis requires greater fiscal transparency and a shift toward a global common framework for debt restructuring. - The new Data Adequacy Assessment for Surveillance is a key element of the framework for Data Provision to the Fund for Surveillance Purposes, encouraging production of high-quality data for economic analysis and policy advice. - Continued international cooperation (G20 Common Framework, Global Sovereign Debt Roundtable) supports efficient debt restructuring to restore sustainability. - CD delivery and results: - Out of 62 CD activities in the 18-month fiscal and debt reporting work plan, 42 CD activities were delivered in FY 2024 (compared with 25 CD activities delivered in FY 2023). - Nine activities were cancelled or postponed to FY 2025 (Benin, Bolivia, Comoros, Morocco, Niger, Senegal, Sri Lanka, Sudan, and Tunisia). - CD prioritized fragile and conflict-affected states (FCS): 13 delivered FY 2024 CD activities directly benefited FCS (Burkina Faso, Cameroon, Chad, Burundi, Central African Republic, Republic of Congo, Ethiopia, Guinea Bissau, Lebanon, Papua New Guinea, Timor-Leste, Yemen, and Zimbabwe). - Capacity building approaches: - Staff training was embedded in many single-country CD supports, leveraging RCDCs’ field presence to address post-pandemic staff turnover and surging CD demand. - Training content included basic concepts, accounting rules, sectorization, consolidation, GFSM 2014 framework, and PSDSG 2011. - Examples of training outcomes: - In Kenya and Zimbabwe, 92 public officials were trained from ministries of finance, local governments, state governments, and national statistics offices. - Over 20 Yemen officials were trained through hybrid and blended in-person CD missions. - Blended TA and training were delivered to Armenia, Bhutan, Côte d'Ivoire, Central African Republic, Ethiopia, The Gambia, Ghana, Kyrgyz Republic, Mongolia, Papua New Guinea, São Tomé and Príncipe, Suriname, Tajikistan, Timor-Leste, and Uzbekistan. *Source: D4D Fund annual report and work plan (capacity development activities and outcomes).* ### 39. Continued CD support through multi-country regional workshops facilitated hands-on ### 39. Continued CD support through multi-country regional workshops facilitated hands-on training and peer-to-peer learning. ### Regional workshops and training delivery - A multi-country in-person regional workshop was delivered in Cotonou, Benin, in collaboration with the African Regional Technical Assistance Centre for West Africa (AFRITAC West or AFW). - The regional workshop provided hands-on training and facilitated peer-to-peer learning to 35 participants from AFW member countries (except Niger), including Madagascar, Comoros, Mauritius as well as the WAEMU Commission. - The regional training workshop was focused on hands-on compilation and reporting of the Functional Classification of Government Expenditures (COFOG) using national budget datasets. - An online GFS course (GFSx) was delivered to a limited group of Spanish speaking officials from several countries augmented with live virtual sessions; the course benefited over 147 participants from 25 countries. - Note: Mauritius and WEAMU Commission are not D4D-eligible but participated for purpose of facilitating peer-to-peer learning. ### Improvements in source data quality, classification, and compilation processes (FY 2024) - CD delivery supported creation or update of bridge tables aligned with GFSM 2014 and PSDSG 2011. - TA mission to Burkina Faso: - Developed the bridge table between SOEs' trial balances and GFS data. - Supported compilation of statement of operations for 18 SOEs based on the FY 2021/22 data. - TA missions to Cameroon and Guinea: - Refined source data classification of revenue, expense, and nonfinancial asset. - Created bridge tables in line with GFSM 2014 classifications and compiled preliminary GFS data for Budgetary Central Government (BCG), Extrabudgetary Units (EBUs) and local government/counties. - TA missions to Timor-Leste and Papua New Guinea: - Reviewed source data and initiated the compilation process of PSDS. - Mission to Ethiopia: - Assisted authorities in drafting business processes documentation to compile and disseminate GFS. ### Box 5 — Burkina Faso: strengthening PSDS and debt data reporting - Prior situation: - Quarterly public debt bulletin published tables not in accordance with international standards. - Institutional coverage limited to central budgetary administration. - Reporting covered only two debt instruments: debt securities and loans. - TA mission outcomes: - Strengthened capacity on basic concepts and tables needed for PSDS dissemination to the World Bank-IMF Quarterly Public Sector Debt Database (QPSDS). - Reviewed debt instruments, gross debt, net debts, financial receivables, and debt valuation (nominal value, market value and face value). - Emphasized concept of residual maturity to isolate short-term portion of long-term debt. - Addressed residence of holders of public securities where securities issued on the regional market were being classified as domestic debt based solely on currency criterion. - Mission collected debt stock data and the authorities pledged to finalize tables according to international standards. - Outreach included meetings with the Director of Public Debt to raise awareness of producing high quality PSDS and disseminating to QPSDS. ### Sectorization, institutional coverage, and SOE statistics - Missions that developed or updated comprehensive lists of public sector units: Armenia and Suriname. - Burundi: extended PSDS coverage from BCG to General Government (GG). - Lesotho: reviewed Public Sector Institutional Table and Chart of Accounts and improved sectorization. - Central African Republic, Côte d’Ivoire, Madagascar: significant advances in expanding GFS sector coverage. - Papua New Guinea: enhanced scope of debt statistics by compiling statistics on SOE debt. - Sierra Leone: reviewed public sector debt compilation and assisted in creating an automated PSDS template to facilitate broader GG coverage. - Uzbekistan: supported expansion of annual GFS for 2022 to include off-budget accounts of budgetary organizations, and externally financed expenditure and lending. - TA missions to Central African Republic, Chad, Burkina Faso, Côte d’Ivoire, Guinea, Egypt, Ghana, Mongolia, Namibia, Papua New Guinea, São Tomé and Príncipe, Sierra Leone, and Timor-Leste: - Supported compilation of SOE data in line with GFSM 2014 and PSDS 2011 standards. - Tajikistan and Kyrgyz Republic missions: - Supported sectorization of SOEs and classification issues for recording financial support (loans/equity injections) to loss making SOEs and dividends received by central government. ### Quality, consistency, and reconciliation improvements - Angola: TA mission improved reconciliation of above- and below-the-line data; noted in the 2024 IMF Article IV Staff report. - Tajikistan: CD improved quality of annual and quarterly GFS by ensuring consistency, eliminating errors and methodological discrepancies, and improving compilation procedures of GFS and PSDS datasets. - Lesotho: mission resolved statistical discrepancies between expenditure and financial data caused by manual compilation processes. - Burkina Faso: assisted compilation of PSDS in accordance with international standards and dissemination to the World Bank-IMF QPSDS. - Burundi and Central African Republic: supported compilation of experimental COFOG data. - Bhutan and Yemen: missions supported compilation of fiscal data based on GFSM 2014. ### Box 6 — Yemen: rebuilding institutional capacity in an FCS - Goals of the GFS and PSDS CD project: - Develop GFS and PSDS time series from the ground up. - Support Yemen’s engagement with creditors, IMF surveillance, and authorities’ analytical capacity. - Customized CD delivery modalities: - Mix of (i) in-person and virtual meetings, (ii) blended training and TA, and (iii) enhanced ongoing virtual interactions. - Strong integration of D4D-funded efforts with IMF’s Middle East Regional Technical Assistance Center. - Reinforce coordination among Ministry of Finance, the CB, and Ministry of Planning and International Cooperation. - Alignment with international partners (UNCTAD and the United States Agency for International Development). - Frequent updates of IMF’s results-based management system. - Outcomes to date: - Increased engagement, built technical capacity, and produced preliminary GFS and PSDS currently undergoing review and reconciliation. - Next steps and challenges: - Continued phased efforts required to advance production of sound and regular fiscal and debt data. - Challenges include guaranteeing adequate CD funding blend, balancing staffing at country and IMF levels, and obtaining political support for reforms. - Planned approach: hybrid interactions, regular virtual follow-ups, enhanced blended TA and training, and efforts to ensure consistency among macroeconomic statistical domains. - Activity timeline highlights (selected): - Oct-Nov 2022: Government Finance Statistics (GFS) Diagnostic Mission. - May 2023: 1st GFS/PSDS Customized Workshop blending technical assistance and training. - Sep 2023: PSDS Diagnostic Mission. - Feb 2024: 2nd GFS/PSDS Customized Workshop blending technical assistance and training. - Outcomes: First preliminary fiscal and debt time series built; time series reconciliation ongoing. ### Progress, persistent gaps, and country needs - Several countries still require continued CD support due to weak institutional capacity and fragility, including Ghana, Suriname, Timor-Leste, and Yemen; common constraints: limited resources and high staff turnover. - Eight recent IMF Debt Sustainability Analysis reports (published as part of IMF Article IV Staff Reports) identified data challenges across low-income countries, including: - Need to expand sector coverage to general government sector and public debt instrument coverage. - Inconsistencies in stock-flows data. - Lack of timeliness in reporting fiscal and debt statistics. - Consequence: Liabilities are generally not fully covered, potentially hampering effective monitoring of fiscal risks and Debt Sustainability Analysis (DSA). ### Work plan and priorities for the last year of D4D Fund Phase I - CD delivery will focus on achieving D4D program outcomes as described in the D4D Fund strategic log frame (Annex I). - Prioritization: - Eligible countries with high absorptive capacity and the twelve FCS. - A more flexible and tailored approach to CD delivery, fostering collaboration and better integration with Fund policy advice. - Proposed activities: - A total of 36 CD activities are proposed for the 14-month work plan, with broadly equal distribution across the PSDS and GFS work streams. - STA will continue to evaluate additional needs of eligible countries that can be accommodated within budget and timeline constraints and addressed through blended modalities (virtual TA and training). ### FAS (Financial Access Survey) — related CD and reporting progress (contextual linkage) - Number of FAS reporters recovered since the pandemic: 167 in 2022 and 170 in 2023. - Two new FAS reporters in 2023: Andorra and Nauru. - Resumed reporting from four jurisdictions in 2023: Burundi, Ethiopia, Tanzania, and Sierra Leone. - Reporting by FCS: 29 countries reporting data in 2023 (increasing from 26 in 2022 and 2021). - Mobile money reporters: declined from 86 in 2022 to 82 in 2023 due to reclassification issues; five new mobile money reporters in 2023 including four LLMICs. - Countries reporting gender-disaggregated data: reached 85 in 2023 including 45 LLMICs. - FAS-related CD and outreach in 2023–2024 included regional workshops, a European webinar (March 2024), and presentations at the G20 DGI 3 Global Conference, 11th IMF Statistical Forum, IMF Annual Meetings seminar, and other fora. - Analytical outputs featuring FAS data included: - FAS 2023 Trends and Developments (October 2023). - A book chapter “Women’s Financial Access in Sub-Saharan Africa” (April 2024). - IMF Working Papers in progress on bank pricing data and on evaluating financial access points in Kenya. *Source: IMF Statistics Department, D4D Fund Annual Report and Work Plan.* ### 50. The FAS pilot data collection was launched in February 2024. This pilot data collection is ### 2024 D4D Fund Annual Report and Work Plan — Financial Access Survey (FAS) and Related Capacity Development ### FAS pilot data collection: launch, scope, and uptake - The pilot data collection was launched in February 2024. - Purpose: assess feasibility of expanding FAS data coverage on gender-disaggregation and digital financial services, including fintech-enabled services. - Extensive consultations preceded the launch, concluding with feedback from IMF departments, FAS compilers from selected countries in November/December 2023, CCAMTAC workshop participants, and FAS Advisory Group members. - The FAS pilot template was distributed to all FAS reporters with definitions and instruction guidelines; the template and guidelines were translated into French at francophone countries’ request. - More than 75 countries have submitted pilot data as of April 2024; several others indicated they will submit in the coming weeks. ### FAS Advisory Group: establishment, composition, and outputs - The FAS Advisory Group was established in October 2023 to identify gaps, potential enhancements, and areas of improvement for the FAS. - Composition: 20 members, including senior IMF staff and influential policymakers, senior officials from international financial institutions, deputy governors from member country central banks, and leading academics specializing in financial inclusion. - Meetings: inaugural virtual meeting in November 2023; second in-person meeting on April 22, 2024, in Washington D.C. - Mandate and modalities: - Help identify gaps and refine data collection scope and methodologies. - Exchange information on FAS data applications in policymaking, analysis, and IMF surveillance. - Facilitate outreach to encourage broader utilization of FAS data. - Members’ tenure set for two years (with potential extension); Group will meet once a year in a hybrid format, with additional meetings organized as needed. - Actionable ideas arising from engagements (including the April 22, 2024 meeting): - Maximize complementarity between the FAS database and other financial inclusion databases. - Use partner institutions’ networks to promote the FAS database. - Identify existing trainings related to financial inclusion provided by partner institutions and coordinate FAS trainings with them. - Assess differences between supply-side and demand-side databases to better understand progress and challenges/barriers to financial access. - Some suggestions will be reflected in the future FAS work program, including Phase II of the D4D Fund - FAS module. - A second in-person meeting of the FAS Advisory Group is planned for FY 2025; IMF resources would be used to fund these meetings, with regular interaction continuing through emails. ### Data validation, tools, and internal access - FAS data validation process enhanced with improved validation tools: - Automated data visualization of country- and regional-level data and outlier detection. - Comparison with external data sources such as Global System for Mobile Communications for mobile money data and historical data. - An internal FAS Tool was launched in November 2023 to facilitate IMF staff usage of FAS data: - Enables easy retrieval of FAS data series and indicators with ready-to-use charts by topic. - Allows cross-country comparison via regional charts. - Expected to help country teams and other internal users. ### Future work plan and planned FAS activities - Regional capacity development: combination of in-person and virtual (webinars) regional workshops will be delivered, incorporating new elements to enhance CD effectiveness. - An in-person regional workshop is being planned in the AFR region in collaboration with the IMF’s Africa Training Institute in December 2024. - A shorter, more targeted webinar on a specific FAS-relevant topic will be offered for multiple regions, replacing the APD workshop endorsed in the previous work plan. Webinar topics will include FAS pilot outcomes, data collection experience, methodology, and FAS data usage and policy applications. - Regional workshops will emphasize FAS data usage, showcasing country experiences in financial inclusion policymaking and monitoring. - Planned FAS activities (selected): - A pilot survey has been launched to test feasibility of expanding coverage of fintech and gender-disaggregated data in the FAS; findings will inform future FAS questionnaire revisions. If necessary, a second pilot may be organized in FY 2025 before proposing additional series for inclusion in the regular FAS questionnaire. - The FAS Advisory Group will provide regular feedback to improve quality, coverage, and outreach of the FAS and to identify collaboration opportunities with other stakeholders. - Continued exploration of non-traditional and complementary data sources; finalization of two ongoing working papers and exploration of joint work with partner institutions to showcase complementarity of demand-side and supply-side databases (e.g., FAS and Findex). - Preparation of a gender methodology note to explain methodological issues and present usage examples of FAS gender-disaggregated data; intended to clarify gender-disaggregation issues and serve as workshop/TA material. ### Related capacity development and resource notes (selected figures and plans) - Workshops and webinars will be used to track FAS data usage by countries. - The last in-person AFR workshop prior to the current plan took place in 2019. - A survey to assess application of online-course knowledge by compilers is planned; estimated cost is $25,000, to be financed using savings from the Governance and Evaluation budget line. - With approval of additional budget of $1,238,315 required for the new work plan (Table 4), the IMF will utilize the entire budget envelope available for Phase I. *Source: 2024 D4D Fund Annual Report and Work Plan (IMF).* ### 69. To continue supporting countries close to the LLMIC income threshold, the IMF proposes to ### 2024-d4d-fund-annual-report-and-work-plan - 69. To continue supporting countries close to the LLMIC income threshold, the IMF proposes to ### Extension of temporary expansion of country eligibility - Proposal: extend until the end of Phase I the temporary expansion of country eligibility previously granted by the SC (Table 12, No. 9). - Rationale: Early CD engagement with countries at the highest risk of being downgraded to LLMIC status allows more proactive interventions. - Evidence: Four out the five countries approved for eligibility by the SC in October 2022 benefited from D4D-funded CD during this cycle (see Paragraph 7, footnote 2). - Next steps: STA will assess the new World Bank list for LLMICs once available (probably in July 2024) and propose an updated list of expanded D4D Fund eligibility for the SC’s endorsement in the October 2024 status report. ### Table 12 - Issues for Endorsement (budget implications) - 1. Module 1, Sub Module Real Sector Statistics — $6.44 million (Tables 4, 5, 6, & 7) - 2. Module 1, Sub Module External Sector Statistics — $4.88 million (Tables 4 & 8) - 3. Module 1, Sub Module Fiscal and Debt Reporting — $6.07 million (Tables 4 & 9) - 4. Module 1, Ad Hoc Advisory Services — $0.29 million (Table 4 & Section I) - 5. Module 2: Financial Access Survey — $3.62 million (Tables 4 & 10) - 6. Module 3: Online Learning — $7.41 million (Table 4 & Section IV-C) - 7. Module 4: Statistical Information Management — $0.66 million (Tables 4 & 11) - 8. Program Manager — $1.59 million (Table 4) - 9. Country Eligibility Criteria — - - Note: Items no. 1-8 above total $30.97 million, which is the subtotal as shown in last column of Table 4. ### Future meetings and governance - Regular donor check-ins: status report circulation anticipated in October 2024, and a virtual-only check-in meeting in January 2025, ahead of the next annual meeting in June 2025. - Purpose: allow donors to provide guidance on work plan orientation. - Chairmanship: The People’s Republic of China has agreed to serve as the Chair of the D4D Fund SC after the 7th annual SC meeting. - Transition: The 8th annual SC meeting will be a transitional meeting between Phase I and Phase II of the D4D Fund. - Reporting: A Phase I report will be produced instead of an annual report, plus the first 18-month work plan for Phase II, based on the Program document to be discussed with the SC at the 7th annual SC meeting in June 2024. ### Annex I — D4D Fund Strategic Log Frame and Interim Rating (strategic objective and module highlights) - 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. - 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. Module 1 — Real Sector Statistics - Objective 1 (HFIs): 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. - Targets by end of five-year D4D Fund period: - supported at least 10 countries currently not producing HFIs to compile and disseminate an indicator for a significant activity/sector in the economy; - assisted at least 15 additional countries to strengthen the compilation and dissemination of well-defined HFIs of economic activity. - Interim Rating: 1.6 - Objective 2 (National Accounts Benchmarking and Rebasing): More timely re-basing/benchmarking of national accounts to enhance the quality of GDP estimates. - Baseline: 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. - Targets by end of five-year D4D Fund period: - supported at least 15 countries in the release of updated benchmark estimates of GDP based on improved source data and methods; - updated business registers in 10 countries; - updated business survey/program content in 15 countries; - 10 new memorandums of understanding are signed and implemented to provide the NSO with access to data from outside government departments; - 10 countries augment existing price statistics program with release of new price index critically important to the GDP rebasing exercise. - Interim Rating: 1.2 - Objective 3 (RPPI): Strengthened compilation and dissemination of Residential Property Price Indexes (RPPIs). - By end of five-year period: align compilation and dissemination with Handbook on Residential Property Price Indexes for existing RPPIs; increase staff capacity; provide regional workshops and follow-up TA for countries without RPPIs. - Interim Rating: 2.5 Module 1 — External Sector Statistics - Objective: High-quality balance of payments statistics compiled and disseminated. - Outcome A (trade in goods and services): More accurate and comprehensive data available for at least 15 eligible countries. - Indicators: new data sources; new/improved data for global value chains and digital economy; improved coverage of goods including informal cross-border transactions. - Interim Rating (Top 15 countries): 2.7 - Overall score: 2.1 - Outcome B (financial account and remittances): Strengthened analysis of cross-border risks and vulnerabilities; improved scope of financial account components and remittances coverage for at least 15 eligible countries. - Indicators: new data sources; widened coverage of private sector external debt; improved consistency between stocks and flows. - Interim Rating (Top 15 countries): 2.5 - Overall score: 1.8 Module 1 — Fiscal and Debt Reporting - Objective: Improved government finance statistics (GFS) and public sector debt statistics (PSDS) for sound fiscal policymaking and debt sustainability monitoring. - GFS outcomes: - For around one-third of LLMICs, improvements may include increased frequency (annual→quarterly, quarterly→monthly), adherence to latest GFS manual, expanded institutional coverage, improved internal consistency, expanded scope of transactions/stock positions, improved timeliness of public dissemination, and better metadata/documentation. - Interim Rating (Top 25 countries): 3.2 - Overall score: 2.7 - PSDS outcomes: - For around half of LLMICs, improvements may include increased frequency, adherence to PSDS Guide, expanded institutional coverage (e.g., SOE debt), improved scope of stock positions (contingent liabilities and arrears), sustained public dissemination with improved timeliness, and better metadata/documentation. - Interim Rating (PSDS): 2.4 Module 2 — Financial Access Survey (FAS) - Objective: Provide policymakers and analysts with high-quality statistics on financial inclusion through the FAS database. - Outcomes and targets by end of five-year period: - Continued production of the FAS with annual survey to all IMF members and rolling dissemination — Interim Rating: 4 - Increase annual response rate to 95 percent of the IMF membership; double the number of jurisdictions providing gender breakdown compared to 2017 benchmark; increase jurisdictions providing indicators of innovative channels of financial access by 50 percent compared to 2017 benchmark — Interim Rating: 3.7 - Provide SDG indicator (8.10.1) data (commercial bank branches and ATMs per 100,000 adults) covering at least 90 percent of the world population — Interim Rating: 4 - Contribute to research and policy agenda; FAS data used to create a global financial inclusion index and featured in IMF reports — Interim Rating: 3.5 Module 3 — Online Learning - Objective: Expand global reach of statistics training via a structured online learning curriculum covering ten fundamental statistical topical courses. - Features: translation in up to 5 languages; certification as entry requirement for intermediate/advanced training. - Phasing: One course on-stream during Year 1, two in Year 2-4, and three in Year 5. - Target: Increase reach of STA training by at least 50 percent by end of D4D Fund period. - Interim Rating: 4 Module 4 — Statistical Information Management - Objective: Streamline, standardize and automate statistical information management; facilitate joining IMF data dissemination standards and reduce reporting burdens. - Activities: transfer knowledge on governance structures; provide information on technical standards and statistical information models; advice on project design; pilots in Kenya (2017), Lebanon, Egypt and/or Tunisia (planned for FY 2019). - Interim Rating: 2.5 - Rating scale: 1-Not achieved; 2-Partially achieved; 3-Largely achieved; 4-Fully achieved. *D4D Fund Annual Report and Work Plan, Statistics Department, IMF* ### Annex II - Country-Specific Information on FY 2024 Work Plan ### Annex II - Country-Specific Information on FY 2024 Work Plan ### Real Sector Statistics — National Accounts Rebasing/Benchmarking: Progress Achieved - Objective: develop data sources and methods to better position countries to rebase national accounts and achieve permanent improvements in national accounts compilation. - GDP Rebasing/Benchmarking missions and outcomes: - Angola: November 2023 mission assisted NSO in compilation and analysis of rebased national accounts with new base year of 2015; estimates finalized and disseminated in April 2024 after resolving compilation challenges with the supply and use table (SUT). - Cambodia: support to review and prepare 2014 rebased GDP estimates for dissemination (previous benchmark year 2000); July 2023 TA mission assisted with linking historical and post-benchmark estimates to form a continuous series. - Central African Republic: TA to review and finalize rebasing from 2005 to 2019; April 2024 mission supported calculation of post-benchmark annual estimates consistent with new data. - Republic of the Congo: February 2024 mission supported updating benchmark from 2005 to 2022; reviewed product and industry classifications and initiated source data preparation; conditional on national funding, 2022 rebased estimates scheduled for availability in December 2025. - Ghana: SUTs in 2019 current prices compiled with October 2023 mission support; SUTs will support air emissions accounts and provide an interim benchmark prior to tentative 2025 rebase. - Philippines: February 2024 mission reviewed current compilation practices and data sources for institutional sector accounts, noting lack of harmonization between NSO and CB source data and inconsistent results; discussed strategies to improve savings and net lending/borrowing estimates. - Vietnam: two missions to finalize rebasing to reference year 2020; recommendations to improve measurement of housing services, subsistence agriculture, and product allocation of imports and exports; pandemic-related key source data gaps necessitated adjustments and introduced compilation complexities; focus on reliable informal economy estimates. - Prices-related TA and outcomes: - Bhutan: two missions to update CPI weights using Bhutan Living Standards Survey (April-June 2022); updated CPI planned for release in June 2024; August 2023 mission assisted updating PPI weights from 2010 to 2017 but progress delayed due to capacity constraints and CPI prioritization. - India: October 2023 TA to Office of Economic Adviser finalized new PPI for agricultural and industrial activities; compiled estimates found ready for dissemination in 2024; TA provided to compile input PPIs for national accounts deflation and to expand PPI coverage to services. - Kiribati: May 2023 mission supported finalizing and disseminating updated CPI; updated CPI published in July 2023. - Pakistan: November 2023 mission established work plan for new PPI for agricultural and industrial activities; plan developed to disseminate new PPI quarterly beginning in October 2026, ahead of rebased 2024/2025 national accounts compilation. - Philippines (PPI): January 2024 mission supported expanding PPI coverage to services (telecommunications and air transportation); drafted questionnaires for first data collection visits; dissemination scheduled for 2025; services contributed more than 60 percent of 2022 GDP. - Tunisia: November 2023 mission recommended updating XMPI weights and transitioning to 2009 XMPI Manual practices; advised direct survey collection where customs unit values unreliable; recommended annual weight updates instead of decennial updates; updated XMPI planned for release in 2025. - WAEMU: three multilateral TA and training missions advanced harmonized CPI compilation and calculation methods consistent with 2020 CPI manual across eight member countries and regional aggregation for WAEMU; updated CPIs to be finalized by end of 2024. Key outcomes: (i) finalized detailed weighting structure for each member country and WAEMU region; (ii) created weighting structure to ensure consistency in aggregation; (iii) identified and corrected an aggregation issue in the Phoenix calculation software affecting Francophone African countries. - Zambia: support to compile new PPI; price data collection started in 2021 and found suitable; supplementary data from Zambia Revenue Authority; new PPI expected to be finalized in 2024. - Regional workshops conducted in FY 2024: - November 2023 SUIT compilation workshop for Indonesia, Vietnam, Philippines, host Thailand, in collaboration with Asian Development Bank; practical compilation sessions using national official SUTs and input-output table compilation. - June 2023 workshop for 36 national accounts, balance of payments, and prices compilers in the AFR region (with UNCTAD); built capacity to measure impacts of digital activities; 11 country case presentations on credit card data, mobile money, ICT surveys, and digital economy measurement. ### Real Sector Statistics — National Accounts Rebasing/Benchmarking: Future Work Plan (FY 2025–FY 2026 May–June) - GDP Rebasing/Benchmarking planned activities: - Support Mozambique with rebasing their GDP. - Develop updated institutional sector accounts in the Philippines. - Finalize rebasing of national accounts in Sierra Leone. - Assist Vietnam with developing new ISA and finalizing new benchmark GDP estimates. - Conduct a workshop on SUIT compilation for AFR countries. - Prices planned activities: - Develop a new PPI for Lebanon. - Update PPI weights for Namibia. - Continued support to fully achieve expected outcomes: - Finalize updated CPIs for Bhutan and WAEMU member countries (two missions). Next steps for WAEMU: finalize variety samples; implement Phoenix software improvements; begin collecting prices for calculation of reference prices; test software; improve dissemination templates for monthly CPI releases; link old and new CPI to create continuous time series. - Finalize new PPIs for India and Zambia; continue development of new PPI for Pakistan; release expanded PPIs for services in the Philippines. - Finalize updated XMPI for Tunisia. - Placeholder for eight missions included to flexibly support countries likely to finalize projects by end of work plan. ### High-Frequency Indicators: Progress Achieved - CD delivery on HFIs resulted in 11 economies initiating MIEG development and two training workshops in FY 2024. - Country-level outcomes and TA: - Cambodia: December 2023 TA assessed availability, frequency, custodianship of data sources; visits to source producers to explore data sharing; helped construct quarterly GDP compilation framework; initiated HFI development. - Cameroon: intensive November-December 2023 training followed by March 2024 mission; indicators for MIEG identified and framework finalized; remaining tasks include estimation of volume measures and seasonal adjustment. - Central African Republic: June 2023 TA assisted in applying existing information to compile experimental MIEG for market activities from 2016 to September 2022; recommendations covered timeliness and availability of annual GDP, sub-annual general government compensation of employees, quarterly industrial production index, PPI, and service turnover index. - Chad: March 2024 mission assessed short-term indicators and annual national accounts series; provided QNA compilation training. - Ghana: July 2023 technical support launched MIEG development and guided high-frequency data preparation for integration into MIEG and QNA systems. - Madagascar: December 2023 training and follow-up TA initiated MIEG compilation and identified monthly indicators required. - Namibia: May 2023 TA improved economy coverage from 52 percent to more than 90 percent of total GDP; provided tools to align high-frequency data with low-frequency benchmark values; work remains on harmonizing HF and quarterly indicators. - São Tomé and Príncipe: December 2023 mission assessed monthly and quarterly data availability for QNA and HFIs; assisted with data organization, processing, statistical techniques, and formal requests to data providers to improve data sharing. - Uganda: October 2023 MIEG coordination workshop enhanced coordination between NSO, Ministry of Finance, Planning and Economic Development, and NSO for data sharing; November 2023 mission assisted industrial production index enhancement; recommendations included centralized processing to reduce duplication and coordinated dissemination and revision strategies. - Zambia: April 2024 TA stocktaking of source data; identified required indicators; created MIEG template and work plan; three NSO staff participation in December 2023 workshop accelerated progress. - Zimbabwe: July 2023 TA increased awareness of MIEG compilation steps; identified required indicators; created inventory of HF data sources and MIEG template; recommended formal data exchange mechanism; authorities requested consideration of blended training component for future TA. - Training and regional activities: - Two-week training workshop with Africa Training Institute (ATI) benefited 12 AFR countries; mixed format with theoretical first week and practical second week; ten participants from Cameroon, Madagascar, and Zambia stayed a second week to work on country data. - Virtual regional training course (collaboration with MEFMI in Zimbabwe and WAIFEM in Nigeria) conducted January 29 - February 2, 2024; 47 participants from NSOs, CBs, and ministries of finance from 14 African countries attended the full program. - February 2024 training workshop in Peru benefited 16 participants from NSOs and CBs from six WHD region countries; high interest in HFI development and requests for follow-up TA from Belize and Bolivia. ### High-Frequency Indicators: Future Work Plan (FY 2025) - Continued development of HFIs with additional assistance planned for Bhutan, Cameroon, Ghana, Mauritania, Uganda, and Zimbabwe. In Zimbabwe, consider blended training component leveraging QNA/HFIx material to provide methodological background prior to missions. - Assistance planned for index of industrial production or other monthly sectoral indexes in Bangladesh, Belize, Cabo Verde, Lebanon, and Sri Lanka. - Seven placeholder missions to respond to emerging country requests from outreach activities. - One training workshop planned for MCD countries in FY 2025 to meet unmet HFI training demand; blended delivery format being considered, leveraging QNA/HFIx material to increase training efficiency and potentially generate additional TA demand. ### Residential Property Price Index: Progress Achieved - Objective: develop quality-adjusted residential property price indexes (RPPIs) and strengthen methods and data sources. - Country-level outcomes: - Armenia: mission assisted CB in developing experimental quality-adjusted hedonic indexes for apartments (six regional sub-indexes, one index for Yerevan, one national index); continued support for house price indexes; CB staff attended D4D-funded training in Tbilisi in April 2024; authorities well positioned to publish new RPPI in 2025. - Cambodia: after publication of monthly RPPI in June 2022, FY24 mission supported methodological improvements including filtering/cleaning loan data, sample stratification, outlier detection, and hedonic model specification. - Georgia: TA extended scope and coverage of published RPPI; assisted with analysis of web-scraped data, modernizing index calculation, finalizing hedonic modelling, and developing indexes for dissemination; updated data source and methods enable adjustment for property mix using a wide range of characteristics. - Jordan: CB previously published overall real estate index 2012–2021 from register data; legislation change prevented continued use of register data for quarterly RPPIs; 2023 mission supported calculation of price indexes using listings data from www.opensooq.com; CB to gather online listings and develop new RPPIs for internal dissemination initially, external dissemination thereafter. - Lesotho: new project initiated in 2023 to assist CB develop RPPI for first time; CB developed template questionnaire to collect mortgage transaction data from four commercial banks; mission provided intensive staff training on RPPI compilation methods. - Philippines: January 2024 mission supported improving quarterly RPPI mix-adjustment methods to ensure international statistical standard compatibility; authorities intend to apply hedonic methods; mission developed procedures for applying methods. - Uganda: support to improve published RPPI; authorities currently use non-standard hedonic method coded in Stata; staff changes left no coding expertise in prices department; medium-term support planned to redevelop RPPI using standard methods in R. - Vietnam: support to identify data source for first-ever RPPI; progress contingent on electronic recording of tax data on property sales and strengthened enforcement against tax misreporting. - Training delivered in FY 2024: - Two regional training workshops in APD and MCD: Bangkok in September 2023 and Tbilisi in April 2024; total of 44 staff from 21 countries trained on RPPI data sources, modelling, and quality-adjusted methods; participants from CBs and NSOs; practical exercises and country presentations used. *Source: IMF — Annex II, 2024 D4D Fund Annual Report and Work Plan, "Country-Specific Information on FY 2024 Work Plan."* ### 6. The new work plan concentrates its efforts on existing engagements, while maintaining ### 2024-d4d-fund-annual-report-and-work-plan - 6. The new work plan concentrates its efforts on existing engagements, while maintaining ### Real Property Price Indexes (RPPI) — updated work plan and country engagements - The new work plan concentrates efforts on existing engagements while maintaining flexibility to absorb new demand if countries request assistance. - Countries not part of the updated work plan: - Eswatini: paused development work on their RPPI. - Zambia: authorities indicated they are not yet ready to begin the development of their RPPI. - Mongolia and Tunisia: working towards key objectives agreed in previous TA and are not expected to request further TA. - Country-specific progress and planned support: - Armenia: compiled price indexes for residential apartments; currently developing price indexes for houses; a mission is planned for October 2024 to support this work and advise on dissemination of the indexes during 2025. - Bangladesh: plans to expand the sample of property transactions by implementing a new reporting template for a larger number of financial institutions; a mission is planned for early FY 2025 to assist with improvement of the data source. - Cambodia: implementing improved compilation methods (e.g., hedonic modelling) to monitor real estate prices with greater accuracy; further CD planned for FY 2025 to assist with implementation and dissemination of results; first-time RPPI was released in June 2022, and authorities requested assistance as they continue to make improvements. - Georgia: continuing to extend scope and coverage of their RPPI using web-scraped data; a mission in late 2024 will support implementation. - Jordan: will further develop collection of online listings as the only viable option for resuming publication of the RPPI. - Lesotho: in early stages of developing an RPPI; a follow-up to previous TA is planned for June 2024 to improve survey-of-financial-institutions data and build staff capacity on key compilation methods. - Philippines: plan to apply hedonic methods for accurate quality adjustment of the price indexes; supported by a mission in FY 2025. - Suriname: working to identify the most suitable data source for RPPI compilation, with the land register the most promising to date; follow-up TA planned for October 2024. - Uganda: continuing to build capacity in the R statistical package to facilitate redevelopment of their published RPPI; work supported by a mission in FY 2025. - Vietnam: working on developing the data sources required for RPPI compilation. - Programmatic elements: - Three placeholder missions included in the work program to cater for emerging demands. - An in-person regional workshop planned in the WHD region to bring together countries at different RPPI development stages, including those advanced under the D4D Fund, to provide knowledge exchange and to identify recipient countries for future TA. ### External Sector Statistics (ESS) — Progress achieved (FY 2024) - CD activities in FY 2024 addressed ESS weaknesses in 23 countries, with common themes: lack of sound source data, compilation errors in critical BOP/IIP components, inefficient interagency cooperation in data sharing, weak legal settings, lack of suitable data sources, weak compilation techniques, and limited resources. - Selected mission outcomes and country results: - Djibouti (June 2023 mission): CB began reporting BOP and IIP data using the BPM6 template via the integrated correspondence system; mission assisted reclassification of exports and launch of additional surveys; mission unveiled two major sources of net errors and omissions—unrecorded re-exports to Ethiopia and settlement of reexport transactions not captured by banks—causing underestimation of the financial account and a disconnect between BOP outturns and reserves. - Gabon (September 2023 mission): reviewed BOP estimates for 2016-2021, compiled IIP and Coordinated Direct Investment Survey data for 2021; encouraged authorities to disseminate data; assisted setup of framework to compile quarterly BOP; revised BOP data disseminated on Bank of Central African States website. - Ghana (January 2024 mission): assisted migration to BPM6 and improvements in BOP statistics; addressed shortcomings in recording reserve assets and monetization of gold; authorities compiled a new dataset for reserve assets and will release data in line with BPM6 in September 2024. - Guinea (June 2023 mission): assisted in addressing compilation issues for gold exports; assisted in compiling external debt statistics and addressing dataset inconsistencies; authorities encouraged to participate in World Bank’s Quarterly External Debt Statistics database (reporting pending). - Liberia (July 2023 mission): enhanced coverage and quality of ESS, especially direct investment and external debt; assisted in compiling and submitting 2020-2022 BOP and IIP data to STA for re-dissemination. - Madagascar (May 2023 mission): focused on improving data collection strategy to compile quarterly IIP and improve financial account components (direct investment, trade investment); addressed inconsistencies between flows and positions in BOP and IIP. - Mali (November 2023 mission): improved BOP estimates related to informal transactions in services, personal transfers, and trade credit; assisted in improving collection and compilation of private external debt statistics. - Morocco (April 2024 mission): assisted Foreign Exchange Office to address consistency between monetary and financial statistics and ESS and improve estimates for some cross-border financial transactions and positions. - Namibia (July 2023 mission): assessed methodological soundness of reserve assets compilation and compliance with BPM6 definition. - Rwanda (April 2024 mission): supported enhancement of consistency among ESS datasets and with other macroeconomic datasets, especially monetary and financial statistics. - São Tomé and Príncipe (April 2024 mission): assisted to compile cross-border transactions and positions related to oil exploration activities. - Sierra Leone (November 2023 mission): improved estimates of exports of diamonds, off-budget grants, personal transfers, and direct investment; revised BOP data for 2021 and 2022 compiled and shared with STA for re-dissemination. - Uzbekistan (July hybrid mission): assisted use of mirror statistics to improve goods account coverage; reviewed direct investment compilation and publication issues; improved remittances and foreign exchange cash holdings estimation models. - Zambia (follow-up to FY 2022 missions; May 2023 mission): continued addressing mining sector cross-border transaction data gaps; prepared revised BOP estimates for 2020, 2021, and 2022 which resulted in an important decrease in the current account surplus. - Zimbabwe (March 2024 mission): improved BOP coverage by incorporating results of newly launched quarterly Foreign Private Capital survey and enhanced scope; assisted in developing a preliminary IIP. - Regional and capacity-building activities: - D4D-funded ESS Resident Advisor conducted diagnostic missions to Cameroon, Central African Republic, Republic of Congo, Democratic Republic of Congo, and Equatorial Guinea (November 2023–April 2024) in coordination with Bank of Central African States; missions identified compilation and dissemination issues and revealed key weaknesses in ESS; STA coordinating with World Bank to secure financing for updated ESS compilation software. - Two regional blended workshops on international trade in services and digital trade statistics delivered for AFR, APD, MCD and EUR countries; workshops combined self-paced asynchronous learning, synchronous virtual sessions, and in-person sessions on conceptual framework and practical guidance for compilation. - First workshop: targeted Anglophone LLMICs in Africa and East Asia; twenty-four officials from 13 countries participated in in-person session held in Zanzibar, Tanzania (April 22-25, 2024) in partnership with UNCTAD. - Second workshop: delivered in Tbilisi, Georgia in partnership with UNCTAD and coordination with Ministry of Finance in Georgia; twenty-three officials representing 10 countries participated in in-person sessions (April 29-May 2, 2024). - A workshop on Digital Trade for African countries (accounted for under the RSS-NAS work stream) was also delivered. - Regional in-person BOP/IIP training workshop delivered for WAIFEM member countries; twenty-nine officials from five countries participated (Ghana, Liberia, Nigeria, Gambia, and Sierra Leone). ### External Sector Statistics (ESS) — Future work plan (FY 2025 and beyond) - Strategic focus: support countries in addressing external sector data gaps and strengthening compilation practices while intensifying CD on emerging IMF priority topics such as cross-border transactions related to digitalization (including recording of digital transactions, digital trade, and transfers); external debt remains a continuing priority. - Missions and program adjustments: - Missions to Kiribati and Somalia (initially scheduled for FY 2024) rescheduled for FY 2025 and included in the new work plan. - Missions to Burundi, Comoros, Côte d'Ivoire, El Salvador, Kenya, Kyrgyz Republic, and the Philippines, endorsed in FY 2023 and FY 2022, were rescheduled and included in the new work plan. - Resident Advisor follow-up missions planned for Cameroon, Democratic Republic of Congo, Equatorial Guinea, Gabon, and São Tomé and Príncipe to address issues identified by diagnostic missions (November 2023–April 2024) and encourage dissemination of ESS. - Mission to Sudan from the previous work plan replaced by a FY 2025 mission to Iraq due to continued adverse security situation in Sudan and IMF mission suspension. - A mission to Uganda planned to assist compilation of cross-border transactions and positions related to oil exploration activities and address IMF country team concerns. - FY 2024 workshop on international trade in services and digital trade for francophone countries rescheduled for first half of FY 2025. - Fifteen placeholder missions included to provide flexibility for urgent follow-ups or emerging needs. - Three additional thematic blended workshops planned over FY 2025: - One workshop on compilation of informal trade (Central Africa). - One workshop on compilation of ESS for MEFMI/WAIFEM member countries. - One workshop on Reserves for WHD countries. ### Government Finance and Public Sector Debt Statistics (PSDS) — Progress achieved (FY 2024) - Context: Most LLMICs, including FCSs, carry heavy debt-service burdens and face high risk of sovereign debt distress; weaker institutional capabilities can compromise data quality and policy implementation; staff training emphasized to improve data quality and absorption capacity. - Country-specific TA and outcomes (selected): - Angola: Two back-to-back TA missions (PSDS and GFS); assessed debt recording practices inconsistent with PSDSG 2011 (mechanism based on face value, cash base, and linear interest); mission encouraged design of migration plan to fully migrate to PSDSG 2011 beginning with pilot to integrate accumulated interest in public debt calculation. - Armenia: tailored training to improve capacity in compiling and disseminating statistics; assisted in enhancing quality of GFS and PSDS including finalizing a comprehensive list of public sector units. - Burkina Faso: reviewed and improved bridge table linking trial balances of SOEs with GFSM 2014 classification; compiled statement of operations for 18 SOEs based on FY 2021/22 data. - Burundi: updated FY 2022 GFS, expanded PSDS compilation from BCG to GG, finalized bridging table to extend institutional coverage to GG, collected source data for below-the-line transactions, supported establishment of an office for GFS/PSDS compilation. - Central African Republic: comprehensive training on GFSM 2014 and PSDSG 2011; strengthened understanding of source data derivation and compilation procedures, particularly non-monetary transactions and other economic flows; supported compiling annual GFS and PSDS for FY 2022 and QPSD submission. - Côte d'Ivoire: training on GFSM 2014 concepts; reviewed GFS for four newly added SOEs in 2021; assisted reconciling debt data from different sources; highlighted need to adhere to GFSM 2014 and PSDS 2011 standards; expanded GFS coverage to public sector; identified discrepancies in SOE debt across data sources due to differences in institutional and instrument coverage and methodology. - Chad: resolved discrepancies between above- and below-the-line addressing inconsistency between arrears and expenditures; supported finalization of annual GFS and PSDS tables for the BCG and pursued implementation of previous TA recommendations. - Republic of Congo: supported adoption of GFSM 2014 methodology for internal analysis and policy; reviewed and improved bridge tables and prepared questionnaires for data collection. - Egypt: reviewed sectoral classification of public sector units; analyzed coverage, source data, and quality of GFS and PSDS at central and local government levels; provided recommendations to improve frequency and timeliness of dissemination. - Guinea: collected debt data for the BCG and 18 SOEs out of 30; completed PSDS template and identified magnitude of other accounts payable for SOEs to better understand budgetary risks. - Guinea-Bissau: hands-on training on selected PSDS topics and data requirements for compilation, presentation, and dissemination; assessed progress and identified areas for further improvement to expand institutional and instrument coverage per international guidelines; IMF country report No. 22/87 (February 2023) placed Guinea-Bissau at high risk of debt distress, with public debt to GDP amounting to 78.9 percent of GDP in 2021; arrears accumulation noted as a serious issue. - Papua New Guinea: assisted Treasury to revitalize GFS and PSDS after disruption (ransomware attack, pandemic, high staff turnover); provided formal training and TA on data quality, expansion of GFS coverage to provincial government, and compilation of SOE debt statistics. - São Tomé and Príncipe: hands-on training on PSDS topics and data requirements; improved and expanded data coverage to country SOEs; training on QPSD compilation and debt data for Financial Balance Sheet of IMF’s Government Finance Statistics Yearbook. - Sierra Leone: reviewed progress from 2022 PSDS mission focusing on domestic debt and arrears monitoring; assisted in drafting new arrears clearance strategy; reviewed recording, compilation, and comprehensiveness of public sector debt data; helped compile and present fiscal risks (contingent liabilities, on-lending, public-private partnerships). - Timor-Leste: two back-to-back TA missions; training on sectorization, PSDS principles for National Directorate of Cash and Debt Management; assisted producing list of public sector entities to support increased sector coverage of GFS and PSDS; resolved statistical discrepancies between Treasury and CB cash balances; follow-up mission updated bridge table and finalized compilation of preliminary annual and quarterly GFS data for 2022; addressed methodological issues and initiated PSDS compilation. - Yemen: hybrid follow-ups and targeted TA missions delivered in FY 2024. - Zimbabwe: hands-on training to 28 participants on institutional classification, compilation of GFS and PSDS including stocks and flows integration, debt reorganization, and accounting for fiscal risks. *Source: D4D Fund Annual Report and Work Plan (2024), Statistics Department, IMF.* ### 11. In an environment characterized by mounting public debt and fiscal risks the demand for ### 2024-d4d-fund-annual-report-and-work-plan - 11. In an environment characterized by mounting public debt and fiscal risks the demand for ### Strategic focus and work plan summary - Demand for reliable, timely and consistent PSDS has increased in an environment of mounting public debt and fiscal risks. - CD delivery will remain concentrated on addressing existing data gaps to accomplish objectives in the D4D Fund strategic log frame (Annex I). - CD delivery priorities: - Focus on countries with statistical capacity constraints. - Improve integration between CD and IMF surveillance. - Leverage RCDCs and collaboration with IMF area departments. - Planned CD activities: - Twenty CD activities proposed as part of the work plan, inclusive of carryover missions from FY 2024 and three provisional placeholders. - The work plan baseline includes three provisional allocations to meet on-demand TA and follow-up missions that directly contribute to strategic log frame results. - Five placeholders in FY 2025 are included in the proposed work plan baseline. ### Proposed and rescheduled missions (PSDS / SOE) - Follow-up PSDS missions planned for: Angola, Burundi, Central African Republic, Egypt, Guinea-Bissau, Papua New Guinea, São Tomé and Príncipe, Timor-Leste, Yemen, and Zimbabwe. - A follow-up SOE mission planned for: Côte d’Ivoire. - Single-country PSDS missions delivered jointly with RCDCs include TA to: Burundi and São Tomé and Príncipe; Central African Republic (with AFRITAC Central); Burkina Faso and Senegal (with AFW). - Activity for Tunisia rescheduled for delivery in FY 2025. - The CD activity originally allocated to Morocco was reprioritized or cancelled due to lack of traction from authorities since 2022. - Missions originally scheduled in FY 2024 to Benin and Comoros postponed to FY 2025. - Missions to Bolivia, Niger, Sri Lanka, and Sudan cancelled or reprioritized and will be accommodated through on-demand placeholders. - Additional planned or joint follow-up GFS missions: - Armenia, Kyrgyz Republic, Mongolia, Tajikistan (jointly with CCAMTAC). - Cameroon and Chad (jointly with AFRITAC Central). - Papua New Guinea (with the IMF’s Pacific Financial Technical Assistance Centre). - Togo (jointly with AFW). - Planned TA missions to Ghana and Suriname. - Additional missions to Eswatini and Mozambique. - Five placeholder allocations to meet on-demand TA and follow-up missions that directly contribute to the strategic D4D log frame results. ### Progress achieved on Government Finance Statistics (GFS) - GFS-CD activities enhanced staff capacity through training and supported improvement of data quality regarding sector coverage, source data, classification, compilation, and reporting. - Post-pandemic emphasis on staff training due to increased demand and high staff turnover. - GFS TA delivered in cooperation with RCDCs; trainings covered GFSM 2014, PSDSG 2011, accounting rules, sectorization, consolidation, and hands-on practical activities. - Key country-specific GFS achievements and outputs (selected): - Angola: Follow-up GFS mission reviewed quarterly 2018-2023 GFS tables for BCG; Ministry of Finance will disseminate this series in the first half of 2024; sectorization workshop held to complete a public sector institutional table. - Bhutan: Training on GFSM 2014 and PSDSG 2011; work plan for reporting consolidated government and public sector data created. - Cameroon: Refined coding of revenue, expense, and nonfinancial assets; compiled Statement of Operations for FY 2022 and 2023; recommended completion of bridge table and creation of COFOG data for budgetary central government for FY 2023 by December 2024. - Ethiopia: Examined annual GFS for budgetary central government for FY 2020/21 and FY 2021/22; provided recommendations to reduce statistical discrepancies and prepare data for IMF database upload; assisted in public sector institutional table and business processes documentation. - The Gambia: Hands-on GFSM 2014 training; assisted compilation of preliminary GFS for BCG for 2020 to 2022; commitment to compile historical series starting from 2017. - Ghana: Comprehensive training; assisted compilation and publication of GFS and PSDS (including historical series); created a manual and a tool to enhance monthly cash data with accrual information. - Guinea: Standardized chart of accounts for EBUs and municipalities; compiled experimental Statement of Operations for EBUs and major municipality of Conakry using FY 2022 data. - Kenya: Joint mission with AFRITAC East; created bridge table to classify county revenue and expenditure according to GFSM 2014; highlighted need to investigate county-controlled entities and update public sector institutional table. - Kyrgyz Republic: Reviewed annual GFS questionnaire for 2022; tutorial on submitting data via Integrated Correspondence System; hands-on GFSM 2014 training; resolved classification issues on loans, equity injections, and dividends. - Lebanon: Joint mission with MENA RTA Center to develop concept to enhance budget reporting; identified contributors to lack of fiscal reporting including staffing, payment accounting discrepancies, misalignment between budget classification and Chart of Accounts, outdated methods, non-integrated systems, and backlog since 2022. - Lesotho: Follow-up mission evaluated adjustments to Public Sector Institutional Table and Chart of Accounts; minimized statistical discrepancy and updated action plan for fiscal and debt statistics. - Madagascar: Compiled 2022 GFS for EBUs, local government, and social security funds; reviewed data sources, procedures, and tools. - Mongolia: Follow-up mission improved compilation and dissemination of GFS and PSDS to support Fund surveillance and fiscal and debt-sustainability analyses; provided specialized training. - Namibia: Supported setup of data sources and compilation of consolidated annual general government operations data for FY 2022/23; assisted in producing PSDS for central government for submission to World Bank-IMF QPSD. - Suriname: Three targeted missions including GFSM 2014 training, creation of public sector institutions table, review of IFMIS as a source for GFS, hands-on training on expenditure classification, addressed statistical discrepancy and debt estimates, and assisted CB in automating control mechanisms for GFS and PSDS compilation and dissemination focused on central government financial assets and liabilities database. - Tajikistan: Improved accuracy and reliability of annual and quarterly GFS; initiated sectorization review of SOEs; linked national fiscal indicators to GFSM 2014; delivered 1.5-day PSDS training. - Timor-Leste: Follow-up mission adjusted bridge table and compiled preliminary annual and quarterly GFS for 2022; resolved methodological discrepancies between GFS and MFS due to cash balance sheet. - Togo: Supported transition to GFSM 2014; expanded institutional coverage for GFS and PSDS; compiled initial GFS for EBUs and local government units; established bridge table between GFS and chart of accounts for social security funds. - Uzbekistan: Methodological and hands-on training for new staff; reviewed 2022 annual GFS submitted in October 2023 and implemented improvements including correction of consolidation errors, elimination of vertical and horizontal inconsistencies, reconciliation checks, amended classifications, and updated bridge tables for 24 state targeted funds; improved coverage by including off-budget accounts of budgetary organizations and externally financed expenditure and lending. ### GFS capacity-building events and online learning - Regional training workshop to AFW member countries delivered in collaboration with AFW and FAO: - Attended by 35 participants from AFW member countries (except Niger), plus Madagascar, Comoros, Mauritius and the WAEMU Commission. - Focused on compilation and reporting of COFOG using national budget datasets. - GFSx small private online course (SPOC) in Spanish: - Delivered August 3 – September 21, 2023, in collaboration with the IMF’s Institute for Capacity Development. - Enrolled 87 participants from 21 countries. - Course content: basic concepts and definitions, accounting principles, classifications, institutional coverage of GFSM 2014, application in compilation, reporting, and analysis of fiscal statistics; supplemented with weekly live discussion sessions. - Attendance: 62 on average attended weekly live discussions, with a peak at 101 participants on the second live session. ### D4D Fund overview and financing - Objective: 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 (SDGs). - Focus: Strengthen national statistical systems, promote transparency and accountability, and offer efficient CD solutions. - Conceptual foundation includes needs assessment considering demand from countries, policy relevance, data gaps and quality concerns, complementarity of CD via RCDCs and bilateral CD, and flexibility to react to country capacity and readiness. - Size, target countries and period: $33.1 million for LLMICs, from June 2018 to June 2025. - Modules and financial allocations (as presented): - M1: Addressing Data Needs and Quality Concerns (Real, External, and Government Finance) — $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. - Sustain and expand the FAS — $6-7 million. - Develop and launch ten fundamental statistics courses (English and up to five other languages) — $6 million. - Provide advice on statistical information management practices and technical environments — $6-7 million. *Data for Decisions (D4D) Fund Annual Report and Work Plan, IMF Statistics Department* ### 3. The SC shall be composed of representatives from each Contributor of the D4D subaccount, the IMF. ### 3. The SC shall be composed of representatives from each Contributor of the D4D subaccount, the IMF. ### Chair and Vice-Chair - The SC is chaired by a Contributor with a strong interest in the operations of the D4D Fund. - The IMF proposes to the SC a Chair and a Vice Chair. - The Chair and Vice Chair are elected by consensus. - The term of the Chair and Vice Chair is one year, at the end of which the Vice Chair seated at that time becomes the Chair. - The principal role of the Chair of the SC is to preside over the SC and, if desired, to host the SC meeting. - The Chair is consulted on the preparation of the agenda for SC, and any potential contentious issues, or issues of urgency in the D4D Fund operations before they are brought to the SC as a whole. - When decisions are required of the SC outside of the meetings, the IMF is responsible for convening the decision of the SC, done by circulation of an email to SC members with information and the notification of a period of non-objection if applicable. - The Vice Chair assumes the role of Chair when the Chair is absent. ### Decisions - SC’s decisions (including the endorsement of the work plan) are made by consensus. - In determining a consensus, each party entitled to have a representative on the SC shall have one voice, regardless of the number of its representatives in attendance. - If consensus is not possible, then the proposed decision is postponed or withdrawn. - The SC reserves the right to further define the decision-making process during the SC meetings. - When decisions are required of the SC outside of the meetings, such decisions shall be made by circulation of an e-mail to SC members with relevant information. - Lapse-of-time decision making period is 15 days but may be adjusted under special circumstances. ### Meetings - The SC meets in person or by videoconference annually. - The Chair may also convene meetings on an ad hoc basis. - The SC approves the minutes of SC meetings, prepared by the IMF. - Observers may be invited to participate in the SC meetings on a case-by-case basis, at the invitation of the SC. - The SC decides which observers may be invited, and which part of the SC meeting the observer(s) will attend. ### Work Plan - Preparation - A work plan is distributed three weeks before the relevant SC meeting. - Changes - The SC endorses: - i. changes to objectives within a Module (for Modules 2, 3, 4) and Sub-modules (for Module 1) - ii. 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 changes to the budget only of less than 25 percent), notification is provided to the SC at the next reporting point. - Note: Thresholds stated above are measured against the last endorsed proposal/budget/duration (i.e., multiple changes within the limits cannot stretch beyond the threshold). - Note: "This corresponds with the internal controls at the “Funding Program” level, which in case of the D4D Fund can be modules (Module 2-Financial Access Survey; Module 3-Online learning; Module 4-Statistical Information Management), or submodules (Module 1-External Sector Statistics; Module 1-Fiscal and Debt Reporting; Module 1-Real Sector Statistics)." ### Reporting - Annually, the D4D Fund provides a report on its activities to the SC. - The IMF provides Technical Assistance Reports (TAR) on the Partners Connect platform, which all Contributors to the D4D Fund are authorized to access. ### Evaluation - As per the Terms and Conditions of the D4D Subaccount, the 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. ### Annex V - List of Selected Acronyms - AfDB African Development Bank - AFRITAC Africa Regional Technical Assistance Center - AFW AFRITAC West - ATM Automated Teller Machines - BCG Budgetary Central Government - BOP Balance of Payments - BPM6 Balance of Payments and International Investment Position Manual, sixth edition - CB Central Bank - CCAMTAC Caucasus, Central Asia, and Mongolia Regional Capacity Development Center - CD Capacity Development - CDMAP Capacity Development Management and Administration Program - COFOG Classification of Functions of Government - CPI Consumer Price Index - D4D Data for Decisions - EBUs Extrabudgetary Units - EDS External Debt Statistics - e-GDDS Enhanced General Data Dissemination System - ESS External Sector Statistics - FAO Food and Agriculture Organization - FAS Financial Access Survey - FCS Fragile and Conflict-affected States - FSI Financial Soundness Indicators - FY Fiscal Year (the IMF’s FY runs from May 1 to April 30) - GDP Gross Domestic Product - GFS Government Finance Statistics - GFSM 2014 Government Finance Statistics Manual, 2014 edition - GG General Government - HFI High-Frequency Indicators - IDA International Development Agency - IIP International Investment Position - IMF International Monetary Fund - ISA Institutional Sector Accounts - LLMICs Low- and Lower Middle-Income Countries - MEMFI Macroeconomic and Financial Management Institute of Eastern and Southern Africa - MFS Monetary and Financial Statistics - MIEG Monthly Indicators of Economic Growth - NAS National Accounts Statistics - NSDP National Summary Data Page - NSO National Statistics Office - ODP Open Data Platform - OL Online Learning - PPI Producer Price Index - PSDS Public Sector Debt Statistics - PSDSG 2011 Public Sector Debt Statistics: Guide for Compilers and Users, 2011 edition - QNA Quarterly National Accounts - QPSDS World Bank-IMF Quarterly Public Sector Debt Database - RCDC Regional Capacity Development Center - RPPI Residential Property Price Index - RSS Real Sector Statistics - SC Steering Committee - SDDS Special Data Dissemination Standard - SDG Sustainable Development Goal - SDMX Statistical Data and Metadata eXchange - SIM Statistical Information Management - SOE State-Owned Enterprise - SPOC Small Private Online Course - STA IMF’s Statistics Department - SUIT Supply, Use, and Input-output Table - SUT Supply and Use Table - TA Technical Assistance - TBD To Be Determined - UNCDF United Nations Capital Development Fund - UNCTAD United Nations Conference on Trade and Development - WAEMU West African Economic and Monetary Union - WAIFEM West African Institute for Financial and Economic Management - WP Work Plan - XMPI Exports and Import Price Index --- _Source: https://www.imf.org/-/media/files/capacity-developement/d4d/june-2024/2024-d4d-fund-annual-report-and-work-plan.pdf_