South Africa: Technical Assistance Report—Monetary and Financial Statistics (Duty Station-based) Mission (August 10–23, 2022); IMF Country Report No. 23/263
IMF Staff Country Reports, July 18, 2023
Source details
- Canonical URL
- South Africa: Technical Assistance Report—Monetary and Financial Statistics (Duty Station-based) Mission (August 10–23, 2022); IMF Country Report No. 23/263
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Bibliographic details
- Published: July 18, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400251337.002
Mission scope and deliverables
- Focus: Monetary and financial statistics (duty station-based) mission covering bridge-table development and sectoral classification.
- Developed bridge tables from the source data of:
- money market funds (MMFs)
- the Land Bank
- Ithala SOC
- mapped to 2SR (Standardized Report Forms)
Key findings
- Reclassification impact:
- The mission estimated that reclassifying the MMFs from the Other Financial Corporations to the Other Depository Corporations sector would increase broad money by two to three percent.
- Account grouping and classification issues:
- Problems detected with the grouping of accounts as an intermediate step to produce the bridge table.
- Clustering individual accounts carries the risk of misclassifying deposit accounts in overdraft.
- Deposit accounts in overdraft should be classified as loans, not netted against the balances of other account holders.
Recommendations and follow-up
- Once the MMF reclassification takes place:
- The mission recommended that the Economic Statistics Department prepare a methodological note explaining the impact on monetary aggregates.
- To support progress in the identified work areas:
- The mission recommended a detailed action plan with the priority recommendations summarized in a table.
- A period for completing these recommendations was discussed and agreed in principle with the authorities.
Publication and metadata
- Publication date: July 18, 2023
- Pages: 25
- Volume: 2023
- Issue: 263
- Series: Country Report No. 2023/263
- DOI: https://doi.org/10.5089/9798400251337.002
- Stock No: 1ZAFEA2023003
- ISBN: 9798400251337
- ISSN: 1934-7685
- Subject terms: Commercial banks; Economic and financial statistics; Financial institutions; Financial statements; International organization; Monetary base; Monetary policy; Monetary statistics; Money; Public financial management (PFM)
- Keywords: Africa; Broad Money; Commercial banks; depository corporations Survey; finance department; Financial statements; financials Statistics manual; IMF executive directors; Ithala development finance corporation; Monetary and Financial Statistics; Monetary base; Monetary statistics; Other Depository Corporations; staff team of the International Monetary Fund; Standardized Report Forms
International Monetary Fund. South Africa: Technical Assistance Report—Monetary and Financial Statistics (Duty Station-based) Mission (August 10–23, 2022); IMF Country Report No. 23/263 (July 18, 2023).
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- 1zafea2023003