## _cr04229

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---

### Overview
- Update prepared by the Botswana authorities based on information available as of July 15, 2004.
- Since 2001, the Bank of Botswana (BoB), Ministry of Finance and Development Planning (MFDP), and Central Statistics Office (CSO) have used the ROSC report to guide development of statistical production.
- Active participation in the Fund’s regional GDDS project for Anglophone Africa, with technical assistance received; project extension welcomed.
- A high-level coordinating committee established to improve coordination between producers; emphasis on improved dissemination and use of information technology.

### General recommendations — Short-term actions and status
- Prepare GDDS metadata on current statistical production/dissemination practices and plans:
  - Relevant metadata prepared and posted as part of the regional GDDS project in 2002.
  - Metadata updated on time in 2003 and annual updates will continue.
  - A national workshop for stakeholders was held in July 2003.
- Strengthen data sharing and coordination among major agencies; reconcile differing accounting periods; address recording of diamonds and monthly merchandise trade for timely quarterly national accounts and quarterly balance of payments:
  - Data sharing exists among CSO, BoB, and MFDP; Statistics Producers Committee (SPC) established early 2003 and meets regularly.
  - A national GDDS committee established under the regional GDDS project.
  - Government discussions under way to move towards a July to June reporting year; final decision pending.
  - GFS data available on a monthly basis; adjustments could be made for different reporting years as short-term measure.
  - Quarterly GDP production regularised; start of quarterly balance of payments production held back by lack of up-to-date trade data for imports, aggravated by transition to automated customs reporting (ASYCUDA and EUROTRACE interfacing problems); provisional export and import estimates available for 2002; 2003 estimates very preliminary.
  - System now in place covering vast majority of imports with substantial progress expected in 2004.
  - CSO experienced low survey response rates affecting timely processing; provision of resources improved and business surveys prioritised for transport needs; half yearly data for 2003/04 produced promptly; low response problem persists and other solutions being investigated.
- Increase dissemination and use of Internet and other media:
  - BoB website upgraded with economic and financial highlights and regular posting of the Botswana Financial Statistics (BFS); new website designed but technical problems delayed full implementation.
  - MFDP and CSO engaged in website enhancement programmes; GDDS technical assistance provided during 2003 for CSO website migration expected within the 2004/05 financial year.
- Develop and disseminate advance release calendars:
  - CSO publishes a detailed schedule for monthly consumer price statistics currently available for the period to March 2005.
  - BoB includes a target date for next website release of the BFS and monthly summary of commercial bank credit data.
  - A cautious approach is adopted to ensure adherence to calendar dates.
- Enhance transparency of statistical policies and practices (internal access to data prior to release, documentation of major changes):
  - BoB and senior MFDP staff have internal access to data prior to publication for GFS; major changes usually explained in notes; future major changes will be documented and published on the website.
- Identify specific contact persons in publications and on websites:
  - CSO provides contact details with its publications.
  - BFS now includes contact details for enquiries; these will be introduced on the CSO website.
  - Published metadata include relevant contact details; suitability of using Permanent Secretary of MFDP as single contact to be reviewed.

### General recommendations — Medium-term actions and status
- Promote training in statistical methodologies:
  - Emphasis on human resource development across all three agencies; staff have benefited from formal training and TA missions.
- Disseminate information on survey response rates, sampling techniques, nonsampling errors, and imputation methods:
  - Recognized as a major undertaking; some items (e.g., response rates) are easier to provide; careful consideration will be given to priorities.
- Publish methodological articles on macroeconomic statistics:
  - BoB staff committed to research; BoB Research Bulletin includes an article on the Bank’s ROSC/GDDS experience.

### National accounts
- Implement 1993 SNA with increased focus on conceptual adherence (initially for GDP estimates):
  - Planned implementation of ERETES software within CSO halted due to financial constraints and software complexity; in-house tailor made software developed and used to compile accounts.
  - Implementation of the 1993/94 SNA has been done from the 1996/97 national accounts; compilation for part of 1997/98 completed.
  - Compilation process remains slow due to guidance needs and multiple ongoing projects.
- Medium-term: encourage voluntary response to surveys and data-user feedback:
  - Public enterprises and financial institutions required by law to provide returns continuously; private sector enterprises are not.
  - A proactive method for voluntary response and data-user feedback is part of the communication plan in the strategic planning for 2003 – 05.
  - Need for research and stakeholder consultations to understand legal and sampling implications; CSO to rationalise frequency of data collection to avoid overburdening providers.
- Expand implementation of 1993 SNA to include financial accounts and balance sheets:
  - National accounts computed on an enterprise basis; financial accounts captured but not fully analysed due to errors.
  - Attempts made for 1996/97 and 1997/98 but data gaps leave data quality questionable.
  - Current practice compiles financial accounts after every three years as part of Social Accounting Matrix (SAM); latest financial matrix published as part of 1996/97 SAM.
  - User demand for the financial matrix limited; move to annual financial accounts could start with unpublished estimates but technical assistance required.

### CPI and PPI
- Redesign PPI to meet international standards (sample size and validation procedures):
  - Re-basing of the current CPI expected around June 2004 after price collection for the Poverty Datum Line (PDL) basket.
  - CPI basket to follow COICOP in line with SADC harmonisation recommendations.
  - Updating CPI and designing a core-inflation framework are priority activities.
  - A review on the PPI, which was suspended, scheduled for around October/November 2004.

### Government Finance Statistics (GFS) — Short-term actions and status
- Disseminate monthly central government budgetary statistics within one month and central government debt data within one quarter after the reference period:
  - Both monthly and year-end data now made available immediately after compilation.
  - Debt data currently produced annually and published in the Annual Statements of Accounts.
  - Intention to make debt data available on a quarterly basis after reconciliation between Public Debt Service Unit and Commonwealth Secretariat – Debt Recording and Management System (CS-DRMS).
- Develop a migration plan for implementation of 2001 GFS Manual:
  - IMF Technical Assistance provided in March 2004; consultant prepared bridge tables to ensure compatibility of GABS chart of accounts with the 2001 GFSM methodology.
  - GABS is to implement computerised cash accounting by 2005/06 with a possible extension to add modified accrual accounting as from 2008.
  - Staff of the Cash Flow Unit assigned to use bridge tables to complete the 2002/03 annual report to the IMF for review during a proposed follow-up mission.

### Government Finance Statistics — Medium-term actions and status
- Emphasize automation in GFS compilation through computerisation of accounting and budgeting:
  - Implementation of Budgeting and Accounting System would automate GFS compilation and shorten lags.
  - GABS project on schedule with modules developed and tested in May 2004.
  - Revenue, expenditure and assets/liabilities tables of the IMF’s annual questionnaire to be provided to GABS consultants before May to facilitate automation.
  - Follow-up mission requested from the IMF to assist in preparation of bridge tables for transition from 1986 to 2001 GFSM.
- Shorten the current two- to three-year lag in dissemination of local government data:
  - Local Authorities currently prepare accounts manually.
  - Ministry of Local Government reports two out of twenty seven Local Authorities remain to be computerised; project completion date set for the end of 2004.
  - An additional two to three years might be required to make system fully operational.
  - Up-to-date final accounts (2002/03) for all Local Authorities will be completed by March 2005; thereafter timely reporting of final accounts within three months of the end of the reference period will be provided.
  - Ministry has contracted consultants to assist Local Authorities to bring accounts up to date.
- Compile consolidated annual GFS for the general government sector:
  - Significant reduction in time lag for Local Government reporting required before consolidation with Central Government accounts.
  - Data on extra budgetary accounts must also be collated.

### GFS documentation and metadata
- Follow-up Technical Assistance mission to assist in preparing bridge tables for the Local Authorities’ detailed chart of accounts to facilitate merging with Central Government.
- Extra budgetary accounts are to be identified before the follow up mission.
- Design and implement a phased work program to improve documentation on the concepts, definitions, classifications, basis of recording, and data sources used to compile GFS.
- The development of the Ministry’s website has been finalised and a link to the IMF’s DSBB has been provided for users to access the posted metadata.
- The updated metadata, completed in November 2003, provides latest information on concepts, classifications and methods used to compile GFS.
- Agreed Action: The metadata posted on the DSBB will be updated as changes occur; otherwise no further documentation is planned regarding these issues.

### Monetary statistics — Short-term actions and status
- Priority: arrange for the electronic transmission of the BoB’s monthly balance sheet to the Monetary Statistics Section as soon as it is processed rather than awaiting audit:
  - Progress: The situation has improved, but speedy transfer is hampered by a requirement that the balance sheet is formally signed before being passed on to the Research Department. Discussions are continuing to see if a way round this requirement can be found.
- Priority: instruct commercial banks to classify their accounts into resident and nonresidents accounts according to the principle of “center of economic interest” rather than according to the nationality of the accounts holder:
  - History: Discussed with commercial banks at a workshop on reporting held in October 2001.
  - IMF technical assistance mission visited BoB in August 18-27, 2003 with residency as part of its terms of reference.
  - Finding: The mission found that the banks understood the concept well and were doing their best in applying it when filling out the returns; the mission was satisfied that there is no cause for concern. The Bank intends holding further follow up meetings with reporting banks; if necessary, residency will be covered in that context.
- Request electronic submission to the BoB of balance sheets and accompanying schedules of commercial banks and other deposit-taking institutions:
  - Agreement reached on a program to move to electronic submission of returns at the seminar referred to above.
  - Transition originally intended during 2002 remains outstanding because further work is required to enable effective and efficient use of electronic submissions.
  - Outstanding issues include confidentiality and accountability; electronic submission is linked to an on-going project to computerise data management in the Bank Supervision Department.
- Routinely crosscheck monetary data with information produced by other sections/departments of the BoB and by other official agencies:
  - More assistance will be required to identify possible sources for cross checking; this will be given priority during the next stage of technical assistance.
  - At present, ad hoc checks are done when necessary, especially when unusual data movements require more detailed explanation.
  - BoB records are used to help with cross checking, although data reported by the commercial banks and the BoB on the same item can differ due to the clearing process.

### Monetary statistics — Medium-term actions and status
- Install and make operative software that would allow automatic consistency checks and flagging, seasonal adjustment of series, and the building of a comprehensive monetary database:
  - Status: The project to establish a comprehensive economic and financial database continues to experience problems in getting off the ground; a variety of alternatives continue to be investigated.
  - Expectation: The narrower requirement of a monetary database is expected to be covered in the second stage of technical assistance provided by the IMF through the regional GDDS project.
  - Timing: This is currently targeted to take place in the second half of 2004.

### Balance of Payments — Short-term actions and status
- Improve presentation of the financial account by showing separately:
  - (a) foreign direct investment in Botswana and abroad, and transactions in foreign and domestic securities;
  - (b) changes in foreign assets and foreign liabilities of the monetary authorities, government, banks, and other sectors;
  - (c) arrears as part of exceptional financing in the analytic presentation.
  - Status: This has been done, including publication in the new format since the 2002 Bank of Botswana Annual Report.
- Strengthen selected classifications and methods:
  - (a) Reclassify realized capital gains on reserves;
  - (b) support the resident – non-resident classification of banking source data according to the principle of “center of economic interest”;
  - (c) eliminate transactions between residents in the transportation account;
  - (d) update some estimation methods for freight payments on imports and travel.
  - Status/details:
    - (a) On further review it is not clear what the problem is with unrealised gains, which we believe to be classified correctly. The issue was not raised during TA missions in 2002 and 2003.
    - (b) The 2003 TA mission for monetary statistics concluded that the commercial banks were correctly applying the resident/non-resident classifications.
    - (c) It has been established that imports data can be presented showing the freight component separately, in which case there is no need to make any estimation for freight. Progress depends on the format provided by CSO and resolving the issue of granting the bank direct access to customs data. Discussions on this are continuing.

### Balance of Payments — Medium-term actions and status
- Priority: accelerate development of quarterly balance of payments statistics; an essential feature is timely compilation of monthly merchandise trade statistics:
  - Status:
    - Quarterly data from pension funds is now received through the Registrar of Pension Funds.
    - There remains the problem of untimely trade data; it is hoped this can be substantively resolved during 2004, in which case the move to quarterly BoP reporting will quickly be feasible.
    - The 2003 BoP estimates on services indicate possible deficiencies in data collection for ‘other services’; the Fund may be approached for assistance in this area.

*Prepared by the Botswana authorities; update completed on July 15, 2004.*

### Section 1

### _cr04229 - Section 1

### Overview
- Update prepared by the Botswana authorities based on information available as of July 15, 2004.
- Since 2001, the Bank of Botswana (BoB), Ministry of Finance and Development Planning (MFDP), and Central Statistics Office (CSO) have used the ROSC report to guide development of statistical production.
- Active participation in the Fund’s regional GDDS project for Anglophone Africa, with technical assistance received; project extension welcomed.
- A high-level coordinating committee has been established to improve coordination between producers; emphasis on improved dissemination and use of information technology.

### A. General Recommendations — Short-term actions and status
- Prepare GDDS metadata on current statistical production/dissemination practices and plans:
  - Relevant metadata prepared and posted as part of the regional GDDS project in 2002.
  - Metadata updated on time in 2003 and annual updates will continue.
  - A national workshop for stakeholders was held in July 2003.
- Strengthen data sharing and coordination among major agencies; reconcile differing accounting periods; address recording of diamonds and monthly merchandise trade for timely quarterly national accounts and quarterly balance of payments:
  - Data sharing exists among CSO, BoB, and MFDP; Statistics Producers Committee (SPC) established early 2003 and meets regularly.
  - A national GDDS committee established under the regional GDDS project.
  - Government discussions under way to move towards a July to June reporting year; final decision pending.
  - GFS data available on a monthly basis; adjustments could be made for different reporting years as short-term measure.
  - Quarterly GDP production regularised; start of quarterly balance of payments production held back by lack of up-to-date trade data for imports, aggravated by transition to automated customs reporting (ASYCUDA and EUROTRACE interfacing problems); provisional export and import estimates available for 2002; 2003 estimates very preliminary.
  - System now in place covering vast majority of imports with substantial progress expected in 2004.
  - CSO experienced low survey response rates affecting timely processing; provision of resources improved and business surveys prioritised for transport needs; half yearly data for 2003/04 produced promptly; low response problem persists and other solutions being investigated.
- Increase dissemination and use of Internet and other media:
  - BoB website upgraded with economic and financial highlights and regular posting of the Botswana Financial Statistics (BFS); new website designed but technical problems delayed full implementation.
  - MFDP and CSO engaged in website enhancement programmes; GDDS technical assistance provided during 2003 for CSO website migration expected within the 2004/05 financial year.
- Develop and disseminate advance release calendars:
  - CSO publishes a detailed schedule for monthly consumer price statistics currently available for the period to March 2005.
  - BoB includes a target date for next website release of the BFS and monthly summary of commercial bank credit data.
  - A cautious approach is adopted to ensure adherence to calendar dates.
- Enhance transparency of statistical policies and practices (internal access to data prior to release, documentation of major changes):
  - BoB and senior MFDP staff have internal access to data prior to publication for GFS; major changes usually explained in notes; future major changes will be documented and published on the website.
- Identify specific contact persons in publications and on websites:
  - CSO provides contact details with its publications.
  - BFS now includes contact details for enquiries; these will be introduced on the CSO website.
  - Published metadata include relevant contact details; suitability of using Permanent Secretary of MFDP as single contact to be reviewed.

### A. General Recommendations — Medium-term actions and status
- Promote training in statistical methodologies:
  - Emphasis on human resource development across all three agencies; staff have benefited from formal training and TA missions.
- Disseminate information on survey response rates, sampling techniques, nonsampling errors, and imputation methods:
  - Recognized as a major undertaking; some items (e.g., response rates) are easier to provide; careful consideration will be given to priorities.
- Publish methodological articles on macroeconomic statistics:
  - BoB staff committed to research; BoB Research Bulletin includes an article on the Bank’s ROSC/GDDS experience.

### B. National Accounts
- Implement 1993 SNA with increased focus on conceptual adherence (initially for GDP estimates):
  - Planned implementation of ERETES software within CSO halted due to financial constraints and software complexity; in-house tailor made software developed and used to compile accounts.
  - Implementation of the 1993/94 SNA has been done from the 1996/97 national accounts; compilation for part of 1997/98 completed.
  - Compilation process remains slow due to guidance needs and multiple ongoing projects.
- Medium-term: encourage voluntary response to surveys and data-user feedback:
  - Public enterprises and financial institutions required by law to provide returns continuously; private sector enterprises are not.
  - A proactive method for voluntary response and data-user feedback is part of the communication plan in the strategic planning for 2003 – 05.
  - Need for research and stakeholder consultations to understand legal and sampling implications; CSO to rationalise frequency of data collection to avoid overburdening providers.
- Expand implementation of 1993 SNA to include financial accounts and balance sheets:
  - National accounts computed on an enterprise basis; financial accounts captured but not fully analysed due to errors.
  - Attempts made for 1996/97 and 1997/98 but data gaps leave data quality questionable.
  - Current practice compiles financial accounts after every three years as part of Social Accounting Matrix (SAM); latest financial matrix published as part of 1996/97 SAM.
  - User demand for the financial matrix limited; move to annual financial accounts could start with unpublished estimates but technical assistance required.

### C. Consumer Price Index (CPI) and Producer Price Index (PPI)
- Redesign PPI to meet international standards (sample size and validation procedures):
  - Re-basing of the current CPI expected around June 2004 after price collection for the Poverty Datum Line (PDL) basket.
  - CPI basket to follow COICOP in line with SADC harmonisation recommendations.
  - Updating CPI and designing a core-inflation framework are priority activities.
  - A review on the PPI, which was suspended, scheduled for around October/November 2004.

### D. Government Finance Statistics (GFS) — Short-term actions and status
- Disseminate monthly central government budgetary statistics within one month and central government debt data within one quarter after the reference period:
  - Both monthly and year-end data now made available immediately after compilation.
  - Debt data currently produced annually and published in the Annual Statements of Accounts.
  - Intention to make debt data available on a quarterly basis after reconciliation between Public Debt Service Unit and Commonwealth Secretariat – Debt Recording and Management System (CS-DRMS).
- Develop a migration plan for implementation of 2001 GFS Manual:
  - IMF Technical Assistance provided in March 2004; consultant prepared bridge tables to ensure compatibility of GABS chart of accounts with the 2001 GFSM methodology.
  - GABS is to implement computerised cash accounting by 2005/06 with a possible extension to add modified accrual accounting as from 2008.
  - Staff of the Cash Flow Unit assigned to use bridge tables to complete the 2002/03 annual report to the IMF for review during a proposed follow-up mission.

### D. Government Finance Statistics — Medium-term actions and status
- Emphasize automation in GFS compilation through computerisation of accounting and budgeting:
  - Implementation of Budgeting and Accounting System would automate GFS compilation and shorten lags.
  - GABS project on schedule with modules developed and tested in May 2004.
  - Revenue, expenditure and assets/liabilities tables of the IMF’s annual questionnaire to be provided to GABS consultants before May to facilitate automation.
  - Follow-up mission requested from the IMF to assist in preparation of bridge tables for transition from 1986 to 2001 GFSM.
- Shorten the current two- to three-year lag in dissemination of local government data:
  - Local Authorities currently prepare accounts manually.
  - Ministry of Local Government reports two out of twenty seven Local Authorities remain to be computerised; project completion date set for the end of 2004.
  - An additional two to three years might be required to make system fully operational.
  - Up-to-date final accounts (2002/03) for all Local Authorities will be completed by March 2005; thereafter timely reporting of final accounts within three months of the end of the reference period will be provided.
  - Ministry has contracted consultants to assist Local Authorities to bring accounts up to date.
- Compile consolidated annual GFS for the general government sector:
  - Significant reduction in time lag for Local Government reporting required before consolidation with Central Government accounts.
  - Data on extra budgetary accounts must also be collated.

*Prepared by the Botswana authorities; update completed on July 15, 2004.*

### Section 2

### _cr04229 - Section 2

### GFS documentation and metadata
- Proposed follow-up Technical Assistance mission will assist in preparing bridge tables for the Local Authorities’ detailed chart of accounts to facilitate merging with Central Government.
- Extra budgetary accounts are to be identified before the follow up mission.
- Design and implement a phased work program to improve documentation on the concepts, definitions, classifications, basis of recording, and data sources used to compile GFS.
- The development of the Ministry’s website has been finalised and a link to the IMF’s DSBB has been provided for users to access the posted metadata.
- The updated metadata, completed in November 2003, provides latest information on concepts, classifications and methods used to compile GFS.
- Agreed Action: The metadata posted on the DSBB will be updated as changes occur; otherwise no further documentation is planned regarding these issues.

### Monetary statistics — Short-term actions and status
- Priority: arrange for the electronic transmission of the BoB’s monthly balance sheet to the Monetary Statistics Section as soon as it is processed rather than awaiting audit.
  - Progress: The situation has improved, but speedy transfer is hampered by a requirement that the balance sheet is formally signed before being passed on to the Research Department. Discussions are continuing to see if a way round this requirement can be found.
- Priority: instruct commercial banks to classify their accounts into resident and nonresidents accounts according to the principle of “center of economic interest” rather than according to the nationality of the accounts holder.
  - History: Discussed with commercial banks at a workshop on reporting held in October 2001.
  - IMF technical assistance mission visited BoB in August 18-27, 2003 with residency as part of its terms of reference.
  - Finding: The mission found that the banks understood the concept well and were doing their best in applying it when filling out the returns; the mission was satisfied that there is no cause for concern. The Bank intends holding further follow up meetings with reporting banks; if necessary, residency will be covered in that context.
- Request electronic submission to the BoB of balance sheets and accompanying schedules of commercial banks and other deposit-taking institutions.
  - Agreement reached on a program to move to electronic submission of returns at the seminar referred to above.
  - Transition originally intended during 2002 remains outstanding because further work is required to enable effective and efficient use of electronic submissions.
  - Outstanding issues include confidentiality and accountability; electronic submission is linked to an on-going project to computerise data management in the Bank Supervision Department.
- Routinely crosscheck monetary data with information produced by other sections/departments of the BoB and by other official agencies.
  - More assistance will be required to identify possible sources for cross checking; this will be given priority during the next stage of technical assistance.
  - At present, ad hoc checks are done when necessary, especially when unusual data movements require more detailed explanation.
  - BoB records are used to help with cross checking, although data reported by the commercial banks and the BoB on the same item can differ due to the clearing process.

### Monetary statistics — Medium-term actions and status
- Install and make operative software that would allow automatic consistency checks and flagging, seasonal adjustment of series, and the building of a comprehensive monetary database.
  - Status: The project to establish a comprehensive economic and financial database continues to experience problems in getting off the ground; a variety of alternatives continue to be investigated.
  - Expectation: The narrower requirement of a monetary database is expected to be covered in the second stage of technical assistance provided by the IMF through the regional GDDS project.
  - Timing: This is currently targeted to take place in the second half of 2004.

### Balance of Payments — Short-term actions and status
- Improve presentation of the financial account by showing separately:
  - (a) foreign direct investment in Botswana and abroad, and transactions in foreign and domestic securities;
  - (b) changes in foreign assets and foreign liabilities of the monetary authorities, government, banks, and other sectors;
  - (c) arrears as part of exceptional financing in the analytic presentation.
  - Status: This has been done, including publication in the new format since the 2002 Bank of Botswana Annual Report.
- Strengthen selected classifications and methods:
  - (a) Reclassify realized capital gains on reserves;
  - (b) support the resident – non-resident classification of banking source data according to the principle of “center of economic interest”;
  - (c) eliminate transactions between residents in the transportation account;
  - (d) update some estimation methods for freight payments on imports and travel.
  - Status/details:
    - (a) On further review it is not clear what the problem is with unrealised gains, which we believe to be classified correctly. The issue was not raised during TA missions in 2002 and 2003.
    - (b) The 2003 TA mission for monetary statistics concluded that the commercial banks were correctly applying the resident/non-resident classifications.
    - (c) It has been established that imports data can be presented showing the freight component separately, in which case there is no need to make any estimation for freight. Progress depends on the format provided by CSO and resolving the issue of granting the bank direct access to customs data. Discussions on this are continuing.

### Balance of Payments — Medium-term actions and status
- Priority: accelerate development of quarterly balance of payments statistics; an essential feature is timely compilation of monthly merchandise trade statistics.
  - Status:
    - Quarterly data from pension funds is now received through the Registrar of Pension Funds.
    - There remains the problem of untimely trade data; it is hoped this can be substantively resolved during 2004, in which case the move to quarterly BoP reporting will quickly be feasible.
    - The 2003 BoP estimates on services indicate possible deficiencies in data collection for ‘other services’; the Fund may be approached for assistance in this area.

*Source: _cr04229 - Section 2*

---


_Source: https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2004/_cr04229.pdf_