Current Account Task Team (CATT)
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Mandate and role
- The Current Account Task Team (CATT) is one of the Task Teams (TTs) established by the IMF’s Committee on Balance of Payments Statistics (BOPCOM) to contribute to the revision process of the BPM6.
- CATT will provide technical inputs and make recommendations on current account issues within the framework of the revision.
- CATT’s mandate includes addressing the current account issues identified in the research agenda of BOPCOM and proposing documented solutions for discussion by BOPCOM.
- Further details on the mandate and operations; guidance notes and working procedures; composition; and key issues to be addressed by CATT are provided in the Terms of Reference.
Operational timeline and role in BPM6 update
- CATT will be operational mostly throughout Phase I of the BPM6 update process: March 2020–March 2022.
- CATT may also be consulted during Phase II (drafting of the BPM7 chapters) on an as-needed basis, should any significant issues arise during the worldwide consultation process overseen by BPTT.
Global consultation on Draft Guidance Notes
- Purpose: to receive feedback from worldwide compilers/users of macroeconomic statistics not involved in the update process, with a view to informing further the proposals to be presented for formal approval to the IMF’s Committee on Balance of Payments Statistics (BOPCOM)/Advisory Expert Group on National Accounts (AEG).
- Each Guidance Note (GN) is available for a period of four-weeks for global consultation after its posting.
- Interested respondents could provide comments on a GN via an accompanying survey link.
Draft Guidance Notes and consultation status (selected entries)
- C.2 Goods, Services, and Investment Income Accounts by Enterprise Characteristics — Survey on this Guidance Note closed on October 19, 2020.
- C.3 International Trade Classified by Currency (Including for Trade Linked to Long-Term Trade Credited and Advances) — Survey on this Guidance Note closed on May 31, 2021.
- C.4 Merchanting and Factoryless Producers, Clarifying Negative Exports in Merchanting, and Merchanting of Services — Survey on this Guidance Note closed on October 20, 2021.
- C.5.1 Statistical Impact of the Change in Treatment of Operating Leases in Business Accounting — Survey on this Guidance Note closed on October 19, 2020.
- C.5.2 Economic Ownership in the Context of Financial and Operating Lease Transactions, Aircrafts — Survey on this Guidance Note closed on August 16, 2021.
- C.6 Trade in Services Classifications — Survey on this Guidance Note closed on May 31, 2021.
- C.7 Treatment of Travel Packages, Health-Related Travel, and Taxes and Fees on Passengers' Tickets — Survey on this Guidance Note closed on February 1, 2021.
- C.8 Recording of Fines and Penalties — Survey on this Guidance Note closed on February 9, 2021.
- For several topics the material listed includes Draft Guidance Notes and accompanying survey instruments (e.g., Copy of Survey for GN C.4).
Relation to other international statistical initiatives
- CATT’s work is positioned within broader international statistical efforts and interactions, including:
- IMF’s Committee on Balance of Payments Statistics
- Inter-secretariat Working Group on National Accounts
- Towards the 2025 SNA
- OECD Working Group on International Investment Statistics
- Revision of the fifth edition of the Balance of Payments Manual
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References