Joint Informal Economy Task Team (IETT)

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Joint Informal Economy Task Team (IETT)

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Mandate and Scope

• The IETT will advise the Inter-secretariat Working Group on National Accounts (ISWGNA) and the IMF’s Committee on Balance of Payments Statistics (BOPCOM) on issues related to the informal economy as they relate to updates of the System of National Accounts 2008 (2008 SNA) and the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6).
• The IETT will work in close collaboration with—and draw on—the revision of the standards for statistics on informality undertaken by the International Labour Organization (ILO).
• Further details on the mandate and operations; guidance notes and working procedures; composition; and key issues to be addressed are provided in the Terms of Reference.

Timeline and Phases

• The IETT will be operational mostly throughout Phase I of the update process: March 2020–March 2022.
• The IETT may also be consulted during Phase II (drafting of the 2025 SNA and the BPM7 chapters) on an as-needed basis, should significant issues arise during the worldwide consultation process.

Consultation Process

• A global consultation is being conducted to receive feedback from worldwide compilers/users of macroeconomic statistics not involved in the update process, with a view to informing proposals to be presented for formal approval to BOPCOM/Advisory Expert Group on National Accounts (AEG).
• Each guidance note will be available for a period of four-weeks for global consultation after its posting.
• Respondents are invited to provide comments via an accompanying survey mechanism for each guidance note.

Collaboration and Institutional Links

• The IETT advises ISWGNA and BOPCOM and coordinates with the ILO’s work on informality standards.
• The IETT’s outputs feed into the BPM6 Update: Compendium of Research Issues and the drafting process for the 2025 SNA and BPM7 chapters.

Meetings and Outputs

• The inaugural meeting was held on September 24, 2020.
• Guidance notes and summaries of discussions are produced to inform consultation and decision-making.
• The Terms of Reference, guidance notes, compendium of research issues, and summaries of discussions constitute key working documents supporting the IETT’s activities.

Content in this bundle

• Compendium of Issues Note
  • Compendium of Issues Note (Markdown version)
  • Compendium of Issues Note (PDF)
• Compendium of Issues Note
  • Compendium of Issues Note (Markdown version)
  • Compendium of Issues Note (PDF)
• Section I: Overview
  • Section I: Overview (Markdown version)
  • Section I: Overview (PDF)
• IE.1 Statistical Framework for the Informal Economy, IMF
  • IE.1 Statistical Framework for the Informal Economy, IMF (Markdown version)
  • IE.1 Statistical Framework for the Informal Economy, IMF (PDF)
• Informal Economy Task Team
  • Informal Economy Task Team (Markdown version)
  • Informal Economy Task Team (PDF)
• IETT Inaugural Meeting
  • IETT Inaugural Meeting (Markdown version)
  • IETT Inaugural Meeting (PDF)
• IETT Second Meeting
  • IETT Second Meeting (Markdown version)
  • IETT Second Meeting (PDF)
• Joint Task Team on Informal Economy: Terms of Reference, International Monetary Fund
  • Joint Task Team on Informal Economy: Terms of Reference, International Monetary Fund (Markdown version)
  • Joint Task Team on Informal Economy: Terms of Reference, International Monetary Fund (PDF)

References

• Back to BPM6 Homepage
• Approved Guidance Notes