{
  "title": "Developing Sectoral Accounts and Balance Sheets in Colombia, Indonesia, and Peru",
  "sourceUrl": "https://www.imf.org/en/capacity-development/cd-stories/colombia-indonesia-peru-developing-sectoral-accounts-balance-sheets",
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  "summary": "Thus, these statistics require the integration of real, financial, fiscal, and external sector statistics through internationally accepted statistical methodologies and frameworks.",
  "sections": [
    {
      "heading": "Challenge",
      "content": "- Sectoral accounts and balance sheets provide deeper knowledge of the economy, including:\n  - the interrelationship between the real sectoral accounts and the financial accounts; and\n  - the vulnerabilities in sectors that may spill over to other sectors.\n- Compilation requires integrating real, financial, fiscal, and external sector statistics through internationally accepted statistical methodologies and frameworks.\n- Decentralized statistical systems in Colombia, Indonesia, and Peru required close interagency collaboration among various data-producing and administrative data-providing agencies."
    },
    {
      "heading": "Approach",
      "content": "- The Swiss State Secretariat for Economic Affairs (SECO) funds the IMF assistance to Colombia, Indonesia, and Peru in developing annual and quarterly estimates of sectoral accounts and balance sheets.\n- Priorities included:\n  - work on coverage, scope, and timeliness of the estimates by broadening source data; and\n  - enhancing staff capacity.\n- Institutional arrangements to commit participants to outcomes and timelines:\n  - establishment of a formal steering committee to make decisions on cross-cutting issues; and\n  - formation of project teams and working groups on specific topics.\n- Capacity building:\n  - the IMF provided general training on sectoral accounts and specific training on certain topics."
    },
    {
      "heading": "Impact",
      "content": "- Very promising progress was made in all three countries with compiling and reconciling annual estimates.\n- Each country compiled annual nonfinancial and financial sectoral accounts and balance sheet data during 2018 and began producing quarterly estimates.\n- Expected benefits:\n  - improved ability to detect systemic risks;\n  - identification of vulnerabilities; and\n  - detection of possible contagion from economic shocks."
    }
  ],
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    "Sectoral accounts and balance sheets provide deeper knowledge of the economy, including:",
    "Compilation requires integrating real, financial, fiscal, and external sector statistics through internationally accepted statistical methodologies and frameworks.",
    "Decentralized statistical systems in Colombia, Indonesia, and Peru required close interagency collaboration among various data-producing and administrative data-providing agencies.",
    "The Swiss State Secretariat for Economic Affairs (SECO) funds the IMF assistance to Colombia, Indonesia, and Peru in developing annual and quarterly estimates of sectoral accounts and balance sheets.",
    "Priorities included:",
    "Institutional arrangements to commit participants to outcomes and timelines:",
    "Capacity building:",
    "Very promising progress was made in all three countries with compiling and reconciling annual estimates.",
    "Each country compiled annual nonfinancial and financial sectoral accounts and balance sheet data during 2018 and began producing quarterly estimates.",
    "Expected benefits:",
    "**Partnerships for Capacity Development**",
    "**Regional Capacity Development Centers**"
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