Review of Data Provision to the Fund for Surveillance Purposes
Policy Papers, April 12, 2024
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- Review of Data Provision to the Fund for Surveillance Purposes
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Bibliographic details
- Published: April 12, 2024
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798400273407.007
Summary and Context
- Data provision by member countries is a key input into the IMF’s surveillance activities.
- The 2024 Review of Data Provision to the Fund for Surveillance Purposes took place against the backdrop of profound shifts in the global economy, highlighting the important need for adequate macroeconomic and financial data to inform analysis and policymaking.
- The Review confirmed the long-standing practice of not applying the remedial framework when members do not provide certain data categories that the Fund considers outdated.
Major Updates to Data Requirements
- Achieved a substantial, but manageable, update to the overall envelope of data that members are required to provide to the Fund.
- Areas updated:
- public sector
- foreign exchange intervention
- macrofinancial indicators
- Addressing these data gaps is expected to reduce blind spots and support even-handedness in Fund surveillance.
Assessment Framework Enhancements
- Introduced a more structured and transparent assessment of data adequacy for surveillance.
- The strengthened framework aims to:
- facilitate policy dialogue with the authorities on data issues
- improve prioritization of capacity development efforts
Policy Implications and Expected Benefits
- Better data provision and the updated adequacy framework will inform analysis and policymaking amid shifting global economic conditions.
- Improved data coverage in public sector, foreign exchange intervention, and macrofinancial indicators will strengthen surveillance even-handedness and reduce analytical blind spots.
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- Policy Paper