## cr18323

## Source details

**Canonical URL:** [cr18323](https://www.imf.org/-/media/files/publications/cr/2018/cr18323.pdf)

## Other formats

- [Markdown version](/-/media/files/publications/cr/2018/cr18323.pdf.md)
- [Structured JSON version](/-/media/files/publications/cr/2018/cr18323.pdf.json)

---

### Mission objective and scope
- A technical assistance (TA) mission on Financial Account Topics visited the Central Bank of the Dominican Republic (BCRD) on March 16–26, 2015.
- Objective: assist the BCRD in further improving the external sector statistics (ESS): the balance of payments (BP), international investment position (IIP), and external debt statistics (EDS).
- Focus areas: follow up on prior recommendations concerning the Coordinated Direct Investment Survey (CDIS) and the Coordinated Portfolio Investment Survey (CPIS), including review/revision of:
  - direct investment questionnaires;
  - memorandum data received from the Superintendency of Banks (SB) on banking portfolio assets; and
  - debt information from business surveys.

### Main findings
- Progress since the March–April 2014 mission:
  - Three of the five recommendations from the March 2014 mission had been implemented.
  - Two of the three required benchmark actions had been fully implemented; the third was partially implemented.
- Legal/institutional constraint:
  - The regulation in Article 5 of Law 183.02 about the obligation to provide information to the BCRD has not been approved; this affects survey response rates and limits availability of required information.
- Data collection and repository issues:
  - Irregular compliance by businesses in submitting quarterly or annual questionnaires creates continuous need for estimates for non-response.
  - The data repository for questionnaire information is inadequate: multiple heterogeneous templates impede reliable management, validation, and confidence in results.
  - FDI liabilities had been estimated via cumulative flows adjusted for foreign exchange, but were replaced by improved survey information with additional validation from the CDIS.
- Specific data/source issues:
  - In migration from databases to survey, methodological inconsistencies were identified (e.g., countries with negative FDI values).
  - The Chart of Accounts of the Superintendency of Insurance does not reliably distinguish instrument type and market location, especially item 1110: Investment in foreign currency (broken down by financial instrument). Historically monetary statistics and BP treated this account as an asset vis-à-vis non-residents.
  - Banks report portfolio assets through the SB by instrument type and country of residence of issuer but aggregated (not by individual security), which allows institutional-sector-based CPIS reporting but not coverage of other individual investors.
- Revisions and reconciliations:
  - Table 3.1 in the QEDS was prepared as at December 2013, reconciled with the IIP, and used to reclassify liabilities with different terms than previously reported.
  - The Ministry of Finance (MF) will prepare the World Bank-based report; the BCRD will supply information MF does not enter into SIGADE and will notify MF of source discrepancies related to valuation and coverage of sovereign bonds.

### Benchmark actions and action plan (jointly formulated with BCRD)
- Priorities (benchmark actions):
  - In coordination with the Monetary Statistics Section (SEM), document information submitted by insurance companies on assets in the form of financial instruments recorded on account 1110 at resident banks and make appropriate reclassifications in the ESS.
    - Verifiable indicator: ESS revised
    - End Date: June 2015
  - Report the CDIS and the CPIS as of end-2013.
    - Verifiable indicator: Information available in STA
    - End Date: September 2015
- Additional action items:
  - Request, through the SB, information on investments made by residents in portfolio instruments issued abroad by residents and nonresidents through their parent companies to increase CPIS coverage and adjust IIP and EDS on resident-owned sovereign bonds issued abroad.
    - Verifiable indicator: Start of management and information received
    - End Date: September 2015
  - Reiterate the need to implement the Organic Law on the BCRD with respect to the legal power to require information for statistical purposes.
    - Verifiable indicator: Regulations in force
    - End Date: For immediate implementation
  - Where information is received on new significant direct investments originating abroad, adopt a conservative recording approach until direct information is received from the business concerned, limiting records to income actually identified through the domestic financial system.
    - Verifiable indicator: Information from groups of investors
    - End Date: Continuous

### Other recommendations (survey and compilation practices)
- Recommendation 1: In coordination with the SEM, document the information submitted by insurance companies as regards the assets in financial instruments recorded in account 1110 and placed in resident banks; complete appropriate reclassifications in the ESS. (Benchmark action, June 2015)
- Recommendation 2: Report the CDIS and CPIS, starting from end-2013; report to STA through the ICS annually, based on CDIS and CPIS data for 2013. (Benchmark action, September 2015)
- Recommendation 3: Require, through the SB, information on investments made by residents in portfolio instruments issued abroad by residents and non-residents through their parent companies to increase CPIS coverage and adjust IIP and EDS on sovereign bonds issued abroad and owned by residents. (September 2015)
- Recommendation 4: Reiterate the need to implement regulations pertaining to the Organic Law on the BCRD regarding the legal power to require information for statistical purposes. (Immediately)
- Recommendation 5: Adopt a conservative approach for recording significant new inward direct investments until direct information is received from the business concerned, limiting recording to income actually identified through the local financial system. (Continuous)

### Other activities undertaken
- Table 3.1 (QEDS):
  - The mission reviewed available information and prepared the version of Table 3.1 in the QEDS as at December 2013, reconciled with the IIP; several reclassifications of liabilities were made where terms differed from those previously reported.
  - MF will prepare the World Bank report; BCRD will provide information not entered into SIGADE and notify MF of valuation and coverage discrepancies relating to sovereign bonds and holdings by non-residents.
  - MF has granted the SDBP access to SIGADE; users preparing the EDS and IIP need exit tables as required by BPM6 and the Guide for Compilers and Users of EDS to calculate balances and interest on an accrual basis once version 6 of the System is installed.
- Border trade with Haiti:
  - DI requested advice on the methodology proposed to collect and measure the value of trade transactions on the border with Haiti to replace the currently fixed coefficient.
  - Strategy: conduct in-depth market-specific surveys across 23 regular markets, place survey takers in strategic locations and process/aggregate results at the SDBP to establish estimates consistent with reality instead of applying the fixed percentage currently used.
- Construction of a coal-based thermal power plant in Punta Catalina, Bani:
  - Executing agency: Dominican Corporation of State-Owned Power Companies (CDEEE).
  - Financing: mix of budgetary and foreign financing; work assigned to a private consortium represented mainly by the Dominican subsidiary of Odebrecht.
  - BCRD identified financing from local banks intended to make pre-payments to external suppliers as part of advances on assets that will, in time, be returned to the country and recorded by Customs.
- Assistance requested by the SDBP:
  - Methodology advice on collecting border-trade information with Haiti.
  - Assistance to record particular transactions related to the construction of the new power plant.
  - A methodology was developed for estimating trade credits and advances, goods, and related external financial flows.

### Recording of advances and classification (PUNTA CATALINA advances)
- Total amount involved: close to US$1,500 million.
- Mission recommendation on recording:
  - Preferable recording if adequate information (including the agreement between the parties) is available: follow BPM6 paragraph 10.28, identifying the time when economic ownership transfers.
  - Given data limitations and timing implications, mission recommends recording these pre-payments as an entry offsetting the financial flows from the banks: trade credits and advances, as described in BPM6, paragraph 5.70.
  - These trade credits and advances will be extinguished when Customs records the import of the good in question.

### Monitoring implementation and suggested forms
- Suggestion: use a form consistent with the one shown in Annex II to the report for monitoring the implementation of the RHPESS and its impact on the BP and IIP.

### Final considerations on statistical operations and validation
- SDBP should pursue efforts to apply validators to information received from business surveys; an Information Monitoring Unit (USI) has been created to be primarily responsible for placement, monitoring, and receipt of questionnaires.
- Freed person-hours for analysts-compilers should lead to timely and in-depth validation of questionnaires.
- Timely and in-depth validation: review information for content and consistency and, if necessary, question the reporting official on any doubts within no more than two weeks of receipt.
- Consultation times exceeding two weeks are detrimental to credibility.
- Ensure resources are budgeted for IT developments so SDBP can be provided with an efficient data repository, such as a data warehouse and OLAP tools.
  - DI’s management expressed intention to consider this as a project in a year or two.
  - Interim step: unify pertinent forms on the basis of criteria comparable to database structures to facilitate future migration (current data kept on a complex and heterogeneous quantity of electronic data templates).
  - This approach helps guard against exceeding capacity for storing data templates and the urgent need to migrate to intermediate solutions such as Access (member of Office Suite), currently available to all users.

### Importance of supplementary BPM6-related statistics and surveys
- Preparing supplementary BPM6-related statistics and surveys facilitates identification of inconsistencies in the SDBP database.
- The IIP (through the various change items) reveals potential errors in balances, transactions, or adjustments by exchange rate when the column of other changes shows values outside of the normal range.
- As with exercises for the CDIS and CPIS, inconsistencies could be identified that may pass unnoticed when data are aggregated in the IIP.
- Reinforces the need for further strengthening of validation controls at the level of the individual business.
- Participation in these surveys provides an additional tool to help compilers by assuring greater reliability of produced information.

### Legal framework and inter-agency relations
- Legal framework is adequate but requires mechanisms that allow for proper implementation to increase response rates and access to information from businesses that have refused to provide information for statistical purposes.
- Maintain a close relationship with the SB and the Superintendency of Insurance to raise awareness of the importance of a more efficient Chart of Accounts, particularly for:
  - Identification of residency in items linked to inflows and outflows for banking services, by residency.
  - Clear identification, by residency and instruments, of cash and investments respectively.

### Annex I — Information sought from the CDEEE for monitoring the work to construct a coal-based thermal power plant (PUNTA CATALINA, BANI)
- Part 1: PROJECT NAME: THERMAL POWER PLANT AT PUNTA CATALINA, BANI
  - PRINCIPAL TECHNICAL CHARACTERISTICS:
    - FUEL: COAL
    - PRODUCTION CAPACITY: 720 MW
- Part 2: ESTIMATED COST TOTAL VALUE (in 000s of USD) — template fields, many entries initialized to 0
  - In Dominican Republic: 0
  - Abroad: 0
  - TOTAL 0
  - check 0
- Part 3: IDENTIFICATION, BY SOURCE, OF THE PRINCIPAL COMPONENTS: In USD — template fields, many entries initialized to 0
  - FROM ABROAD: 0
    - Goods 0
    - Machinery and equipment (including spare parts) 0
    - Inputs for infrastructure works 0
    - Services 0
  - LOCAL: 0
  - TOTAL VALUE OF THE INFRASTRUCTURE WORKS IN DR: 0
  - Of which: Goods produced in DR 0
  - check 0
- Part 4: INFLOWS OF FUNDS — monthly/yearly columns with many 0 entries across categories (From the DR; From abroad; National budget; Issuance of bonds; Trust; Local banks; Other; Banks; Official lending agencies; Multilateral agencies; Direct suppliers)
- Part 5: OUTFLOWS OF FUNDS — templates for payments with the rest of the world and within the Dominican Republic, including:
  - Payments for goods and services abroad: Goods; Machinery and equipment (including spare parts); Of which: Advances to suppliers abroad; Inputs for infrastructure works; Others; Services; Professional and advisory assistance; Temporary foreign personnel.
  - Servicing debt contracted with the rest of the world: Banks (Principal; Interest); Official lending agencies (Principal; Interest); Multilateral agencies (Principal; Interest); Direct suppliers (Principal; Interest).
  - Payments for goods and services in DR: For infrastructure works in DR and breakdowns by Goods produced in DR, Machinery and equipment, Inputs for infrastructure works, Others; Other local components (including direct and indirect labor).
  - Servicing debt contracted in DR — template fields with many 0 entries.

### Annex II — QEDS Table 3.1 (as at December 2013) — Supplementary Table 3.1 Gross External Debt Position Short-Term (USD millions, 2013Q4)
- 1047_T3.1_General Government
  - Short-term debt on an original maturity basis 194
  - Long-term debt obligations due for payment within one year or less 194
    - Debt securities 92
    - Loans 102
- 1060_T3.1_Central Bank
  - Short-term debt on an original maturity basis 29
    - Debt securities 20
    - Other debt liabilities 9
  - Long-term debt obligations due for payment within one year or less 0
- 1073_T3.1_Deposit-taking Corporations, except the Central Bank
  - Short-term debt on an original maturity basis 8,932
    - Currency and deposits 4/ 1,251
    - Debt securities 2,692
    - Loans 4,989
  - Long-term debt obligations due for payment within one year or less 7,427
    - Debt securities 919
    - Loans 6,509
- 1086_T3.1_Other Sectors
  - Short-term debt on an original maturity basis 9,052
    - Loans 1,04
    - Trade credit and advances 8,012
  - Long-term debt obligations due for payment within one year or less 7,414
    - Debt securities 1,811
    - Loans 5,566
    - Trade credit and advances 36
    - Other debt liabilities 0
- 1103_T3.1_Direct Investment: Intercompany Lending
  - Short-term on an original maturity basis 2,473
  - Long-term debt obligations due for payment within one year or less 2,473
- 1108_T3.1_Total Short-Term External Debt (remaining maturity basis) 37,994
- Memorandum items and notes:
  - Supplementary table to Table 3 presenting gross external debt position data by short-term remaining maturity, broken down by institutional sector and debt instrument.
  - Data are in USD millions 2013Q4.
  - Guidance notes on measuring remaining maturity, valuation of debt securities, and inclusion of currency and deposits in the short-term category.

*Prepared from: cr18323 - Executive Summary (cr18323 - Executive Summary ......................................................................................................).*

### Executive Summary ......................................................................................................

### Executive Summary

### Mission objective and scope
- A technical assistance (TA) mission on Financial Account Topics visited the Central Bank of the Dominican Republic (BCRD) on March 16–26, 2015.
- The objective was to assist the BCRD in further improving the external sector statistics (ESS): the balance of payments (BP), international investment position (IIP), and external debt statistics (EDS).
- The mission focused on following up on prior recommendations concerning the Coordinated Direct Investment Survey (CDIS) and the Coordinated Portfolio Investment Survey (CPIS), including review/revision of:
  - direct investment questionnaires;
  - memorandum data received from the Superintendency of Banks (SB) on banking portfolio assets; and
  - debt information from business surveys.

### Main findings
- Progress since the March–April 2014 mission:
  - An assessment found three of the five recommendations from the March 2014 mission had been implemented.
  - Two of the three required benchmark actions had been fully implemented; the third was partially implemented.
- Legal/institutional constraint:
  - The regulation in Article 5 of Law 183.02 about the obligation to provide information to the BCRD has not been approved; this affects survey response rates and limits availability of required information.
- Data collection and repository issues:
  - Irregular compliance by businesses in submitting quarterly or annual questionnaires creates continuous need for estimates for non-response.
  - The data repository for questionnaire information is inadequate: multiple heterogeneous templates impede reliable management, validation, and confidence in results.
  - FDI liabilities had been estimated via cumulative flows adjusted for foreign exchange, but were replaced by improved survey information with additional validation from the CDIS.
- Specific data/source issues:
  - In migration from databases to survey, methodological inconsistencies were identified (e.g., countries with negative FDI values).
  - The Chart of Accounts of the Superintendency of Insurance does not reliably distinguish instrument type and market location, especially item 1110: Investment in foreign currency (broken down by financial instrument). Historically monetary statistics and BP treated this account as an asset vis-à-vis non-residents.
  - Banks report portfolio assets through the SB by instrument type and country of residence of issuer but aggregated (not by individual security), which allows institutional-sector-based CPIS reporting but not coverage of other individual investors.
- Revisions and reconciliations:
  - Table 3.1 in the QEDS was prepared as at December 2013, reconciled with the IIP, and used to reclassify liabilities with different terms than previously reported.
  - The Ministry of Finance (MF) will prepare the World Bank-based report; the BCRD will supply information MF does not enter into SIGADE and will notify MF of source discrepancies related to valuation and coverage of sovereign bonds.

### Benchmark actions and action plan (jointly formulated with BCRD)
- Two benchmark actions were included as priorities:
  - In coordination with the Monetary Statistics Section (SEM), document information submitted by insurance companies on assets in the form of financial instruments recorded on account 1110 at resident banks and make appropriate reclassifications in the ESS. (Benchmark action)
    - Verifiable indicator: ESS revised
    - End Date: June 2015
  - Report the CDIS and the CPIS as of end-2013. (Benchmark action)
    - Verifiable indicator: Information available in STA
    - End Date: September 2015
- Additional action plan items captured in the mission table:
  - Request, through the Superintendency of Banks (SB), information on investments made by residents in portfolio instruments issued abroad by residents and nonresidents through their parent companies to increase CPIS coverage and adjust IIP and EDS on resident-owned sovereign bonds issued abroad.
    - Verifiable indicator: Start of management and information received
    - End Date: September 2015
  - Reiterate the need to implement the Organic Law on the BCRD with respect to the legal power to require information for statistical purposes.
    - Verifiable indicator: Regulations in force
    - End Date: For immediate implementation
  - Where information is received on new significant direct investments originating abroad, adopt a conservative recording approach until direct information is received from the business concerned, limiting records to income actually identified through the domestic financial system.
    - Verifiable indicator: Information from groups of investors
    - End Date: Continuous

### Other recommendations (survey and compilation practices)
- Recommendation 1: In coordination with the SEM, document the information submitted by insurance companies as regards the assets in financial instruments recorded in account 1110 and placed in resident banks; complete appropriate reclassifications in the ESS. (Benchmark action, June 2015)
- Recommendation 2: Report the CDIS and CPIS, starting from end-2013; report to STA through the ICS annually, based on CDIS and CPIS data for 2013. (Benchmark action, September 2015)
- Recommendation 3: Require, through the SB, information on investments made by residents in portfolio instruments issued abroad by residents and non-residents through their parent companies to increase CPIS coverage and adjust IIP and EDS on sovereign bonds issued abroad and owned by residents. (September 2015)
- Recommendation 4: Reiterate the need to implement regulations pertaining to the Organic Law on the BCRD regarding the legal power to require information for statistical purposes. (Immediately)
- Recommendation 5: Adopt a conservative approach for recording significant new inward direct investments until direct information is received from the business concerned, limiting recording to income actually identified through the local financial system. (Continuous)

### Other activities undertaken
- Table 3.1 (QEDS):
  - The mission reviewed available information and prepared the version of Table 3.1 in the QEDS as at December 2013, reconciled with the IIP; several reclassifications of liabilities were made where terms differed from those previously reported.
  - MF will prepare the World Bank report; BCRD will provide information not entered into SIGADE and notify MF of valuation and coverage discrepancies relating to sovereign bonds and holdings by non-residents.
  - MF has granted the SDBP access to SIGADE; users preparing the EDS and IIP need exit tables as required by BPM6 and the Guide for Compilers and Users of EDS to calculate balances and interest on an accrual basis once version 6 of the System is installed.
- Border trade with Haiti:
  - The DI requested advice on the methodology proposed to collect and measure the value of trade transactions on the border with Haiti to replace the currently fixed coefficient.
  - A strategy was formulated to conduct in-depth market-specific surveys across 23 regular markets, placing survey takers in strategic locations and processing/aggregating results at the SDBP to establish estimates consistent with reality instead of applying the fixed percentage currently used.
- Construction of a coal-based thermal power plant in Punta Catalina, Bani:
  - The Dominican Corporation of State-Owned Power Companies (CDEEE) is the executing agency for the coal-based thermal power plant construction, financed by a mix of budgetary and foreign financing, with work assigned to a private consortium represented mainly by the Dominican subsidiary of Odebrecht.
  - BCRD identified financing from local banks intended to make pre-payments to external suppliers as part of advances on assets that will, in time, be returned to the country and recorded by Customs.
- Assistance requested by the SDBP:
  - Methodology advice on collecting border-trade information with Haiti.
  - Assistance to record particular transactions related to the construction of the new power plant.
  - A methodology was developed for estimating trade credits and advances, goods, and related external financial flows.

*Prepared from: cr18323 - Executive Summary (cr18323 - Executive Summary ......................................................................................................).*

### 25.      Consultations were held on the pertinent recording of these advances as well as on

### cr18323 - 25.      Consultations were held on the pertinent recording of these advances as well as on

### Recording of advances and classification
- The work involves a significant amount, close to US$1,500 million.
- Based on information given, the mission feels that these pre-payments representing the advance on the construction of high-value capital goods should be recorded as described in BPM6 paragraph 10.28, insofar as adequate information is available for clearly identifying the time when the economic ownership is transferred from the seller to the buyer. This requires access to the agreement between the parties.
- Given problems obtaining data at this level and implications of the time of recording, the mission deems it more appropriate to record these advances as an entry offsetting the financial flows from the banks: trade credits and advances, as described in BPM6, paragraph 5.70.
- These trade credits and advances will be extinguished when Customs records the import of the good in question.

### Monitoring implementation and suggested forms
- For properly monitoring the implementation of the RHPESS and its impact on the BP and IIP, it is suggested to use a form consistent with the one shown in Annex II to this report.

### Final considerations on statistical operations and validation
- The mission considers that the SDBP should pursue efforts to apply validators of the information received from the business surveys, especially now that an Information Monitoring Unit (USI) has been created to be primarily responsible for placement, monitoring, and receipt of questionnaires.
- Freed person-hours for analysts-compilers should lead to timely and in-depth validation of questionnaires.
- Timely and in-depth validation means reviewing information for content and consistency and, if necessary, questioning the reporting official on any doubts that may arise within no more than two weeks of receipt of the information in question.
- Consultation times exceeding those indicated are detrimental to credibility given the speed with which the information is required and its usefulness.
- It is pertinent to insist on ensuring resources are budgeted for IT developments so SDBP can be provided with an efficient data repository, such as a data warehouse and OLAP tools for its analysis.
- DI’s management expressed intention to consider this as a project in a year or two.
- Because these systems are costly and implementation generally requires time, it is suggested to first unify pertinent forms on the basis of criteria comparable to database structures to facilitate future migration of the data (currently kept on a complex and heterogeneous quantity of electronic data templates).
- This approach will help guard against exceeding capacity for storing data templates and the urgent need to migrate to intermediate solutions such as Access (member of Office Suite), currently available to all users.

### Importance of supplementary BPM6-related statistics and surveys
- Preparing supplementary BPM6-related statistics and surveys facilitates identification of inconsistencies in the SDBP database.
- The IIP (through the various change items) reveals potential errors in balances, transactions, or adjustments by exchange rate when the column of other changes shows values outside of the normal range.
- As with exercises for the CDIS and CPIS, inconsistencies could be identified that may pass unnoticed when data are aggregated in the IIP.
- This reinforces the need for further strengthening of validation controls at the level of the individual business.
- Participation in these surveys provides an additional tool to help compilers by assuring greater reliability of produced information.

### Legal framework and inter-agency relations
- The legal framework is adequate but requires mechanisms that allow for proper implementation to increase response rates and access to information from businesses that have refused to provide information for statistical purposes.
- It is important to maintain a close relationship with the SB and the Superintendency of Insurance to raise awareness of the importance of a more efficient Chart of Accounts, particularly for:
  - Identification of residency in items linked to inflows and outflows for banking services, by residency.
  - Clear identification, by residency and instruments, of cash and investments respectively.

### Annex I — Information sought from the CDEEE for monitoring the work to construct a coal-based thermal power plant (PUNTA CATALINA, BANI)
- Part 1: PROJECT NAME: THERMAL POWER PLANT AT PUNTA CATALINA, BANI
  - PRINCIPAL TECHNICAL CHARACTERISTICS:
    - FUEL: COAL
    - PRODUCTION CAPACITY: 720 MW
- Part 2: ESTIMATED COST TOTAL VALUE (in 000s of USD) — template fields, many entries initialized to 0
  - In Dominican Republic: 0
  - Abroad: 0
  - TOTAL 0
  - check 0
- Part 3: IDENTIFICATION, BY SOURCE, OF THE PRINCIPAL COMPONENTS: In USD — template fields, many entries initialized to 0
  - FROM ABROAD: 0
    - Goods 0
    - Machinery and equipment (including spare parts) 0
    - Inputs for infrastructure works 0
    - Services 0
  - LOCAL: 0
  - TOTAL VALUE OF THE INFRASTRUCTURE WORKS IN DR: 0
  - Of which: Goods produced in DR 0
  - check 0
- Part 4: INFLOWS OF FUNDS — monthly/yearly columns with many 0 entries across categories (From the DR; From abroad; National budget; Issuance of bonds; Trust; Local banks; Other; Banks; Official lending agencies; Multilateral agencies; Direct suppliers)
- Part 5: OUTFLOWS OF FUNDS — templates for payments with the rest of the world and within the Dominican Republic, including:
  - For payments for goods and services abroad: Goods; Machinery and equipment (including spare parts); Of which: Advances to suppliers abroad; Inputs for infrastructure works; Others; Services; Professional and advisory assistance; Temporary foreign personnel.
  - For servicing debt contracted with the rest of the world: Banks (Principal; Interest); Official lending agencies (Principal; Interest); Multilateral agencies (Principal; Interest); Direct suppliers (Principal; Interest).
  - For payments for goods and services in DR: For infrastructure works in DR and breakdowns by Goods produced in DR, Machinery and equipment, Inputs for infrastructure works, Others; Other local components (including direct and indirect labor).
  - For servicing debt contracted in DR — template fields with many 0 entries.

### Annex II — QEDS Table 3.1 (as at December 2013) — Supplementary Table 3.1 Gross External Debt Position Short-Term (USD millions, 2013Q4)
- 1047_T3.1_General Government
  - Short-term debt on an original maturity basis 194
  - Long-term debt obligations due for payment within one year or less 194
    - Debt securities 92
    - Loans 102
- 1060_T3.1_Central Bank
  - Short-term debt on an original maturity basis 29
    - Debt securities 20
    - Other debt liabilities 9
  - Long-term debt obligations due for payment within one year or less 0
- 1073_T3.1_Deposit-taking Corporations, except the Central Bank
  - Short-term debt on an original maturity basis 8,932
    - Currency and deposits 4/ 1,251
    - Debt securities 2,692
    - Loans 4,989
  - Long-term debt obligations due for payment within one year or less 7,427
    - Debt securities 919
    - Loans 6,509
- 1086_T3.1_Other Sectors
  - Short-term debt on an original maturity basis 9,052
    - Loans 1,04
    - Trade credit and advances 8,012
  - Long-term debt obligations due for payment within one year or less 7,414
    - Debt securities 1,811
    - Loans 5,566
    - Trade credit and advances 36
    - Other debt liabilities 0
- 1103_T3.1_Direct Investment: Intercompany Lending
  - Short-term on an original maturity basis 2,473
  - Long-term debt obligations due for payment within one year or less 2,473
- 1108_T3.1_Total Short-Term External Debt (remaining maturity basis) 37,994
- Memorandum items and notes:
  - Supplementary table to Table 3 presenting gross external debt position data by short-term remaining maturity, broken down by institutional sector and debt instrument.
  - Data are in USD millions 2013Q4.
  - Guidance notes on measuring remaining maturity, valuation of debt securities, and inclusion of currency and deposits in the short-term category.

*Source: cr18323 - 25.      Consultations were held on the pertinent recording of these advances as well as on*

---


_Source: https://www.imf.org/-/media/files/publications/cr/2018/cr18323.pdf_