Research Projects
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Overview
- The research projects pursued under the GFS Manual Update include topics related to SNA/BPM recommendations and GFS-specific issues.
- The development of research projects includes preparation of discussion notes and proposed recommendations, with final decisions reflected in notices of decision.
- Current and previous consultations on research projects are accessible through the Global Consultations process.
- GFSM 2014 Update Progress - July 2026 is noted as a milestone heading.
Process and deliverables
- For each research project, the following document types are prepared:
- Discussion Notes
- Proposed Recommendations
- Notices of Decision
- The content availability status for each research project is indicated as "N/A", "Download PDF", or left blank according to the project's stage.
SNA/BPM-related research projects
- 1.1 Valuation principles and methodologies — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.2 Treatment of rent — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.3 Treatment of centralized currency unions in macroeconomic statistics — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.4 Recording citizenship-by- investment (CBI) programs — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.5 Treatment of external assets and related income declared under tax amnesty — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.6 Financial and operating leases — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.7 Recording penalties and fines — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.8 Valuation of unlisted equity — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.9 Improving the recording of government-controlled nonresident SPEs — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.10 Identifying superdividends and establishing the borderline between dividends and withdrawal of equity — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.11 Identifying, valuing and reporting government data assets — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.12 Reverse transactions — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.13 Financial derivatives by type — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.14 Capturing non-bank financial intermediation — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.15 Treatment of cash collateral — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.16 Treatment of factoring transactions — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.17 Debt concessionality — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.18 The recording of crypto assets in macroeconomic statistics — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.19 Treatment of special purpose entities (SPEs) and residency — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.20 Payments for nonproduced knowledge-based capital (marketing assets) — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.21 Islamic finance — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.22 Treatment of Emissions Trading Schemes — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.23 Environmental classifications within GFS — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.24 Distinction between taxes, services and other flows — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.25 Relationship between SNA and IPSAS/IAS — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.26 Treatment of trusts and other types of funds as separate institutional units — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.27 Consistency in the application of the sum-of-costs approach — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.28 Work-in-progress, transfer of ownership and capital services — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.29 Add clarifications on the treatment of terminal costs during ownership transfer for different types of assets — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.30 Add clarifications on the distinction between maintenance and capital repairs for intangible assets — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.31 Possible alternative treatment of the transfer of leased assets at the end of the lease period — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.32 Recording of share buybacks — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.33 The Statistical Treatment of Negative Interest Rates — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.34 Clarification on Reserve Position in the IMF — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.35 Recording of Central Bank Swap Arrangements in Macroeconomic Statistics — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
- 1.36 Statistical Treatment of Precious Metals Accounts — Discussion Notes: N/A; Proposed Recommendations: Download PDF; Notices of Decision: Download PDF
GFS-specific issues
- 2.1 Boundary between government-controlled nonmarket producers engaged in nonfinancial activities (government units) and public nonfinancial corporations — Discussion Notes: Download PDF; Proposed Recommendations: Download PDF; Notices of Decision:
- 2.2 Boundary between government-controlled nonmarket producers engaged in financial activities (government units) and public financial corporations — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.3 Indigenous governments — Discussion Notes: Download PDF; Proposed Recommendations: ; Notices of Decision:
- 2.4 Transactions of government with sovereign wealth funds (and similar) — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.5 Treatment of zakat — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.6 Further defining and subclassifying extrabudgetary units — Discussion Notes: Download PDF; Proposed Recommendations: Download PDF; Notices of Decision:
- 2.7 Treatment of government / public nonlife insurance schemes — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.8 Debt valuation issues — Discussion Notes: Download PDF; Proposed Recommendations: Download PDF; Notices of Decision:
- 2.9 Debt assumption and debt payments on behalf of others — Discussion Notes: Download PDF; Proposed Recommendations: Download PDF; Notices of Decision:
- 2.10 Valuation and recognition of loans — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.11 Recording of provisions and contingent liabilities — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.12 Stock Positions and Related Flows with the IMF and other regional / international organizations — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.13 Equity for public corporations — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.14 Treatment of public-private partnerships (PPPs) — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.15 Treatment of capital injections by government into corporations — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.16 Treatment of privatization — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.17 Boundary between capital and current transfers — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.18 Recording and valuation of infrastructure assets — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.19 Accounting for natural resources and their exploitation in GFS — Discussion Notes: Download PDF; Proposed Recommendations: ; Notices of Decision:
- 2.20 Climate-sustaining and climate-damaging subsidies and other transfers — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.21 Social Security Schemes — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.22 Government Assumption of Pension Obligations — Discussion Notes: Download PDF; Proposed Recommendations: ; Notices of Decision:
- 2.23 Employee benefits – defined benefit schemes — Discussion Notes: Download PDF; Proposed Recommendations: ; Notices of Decision:
- 2.24 A framework for the presentation of GFS metadata — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.25 Communicating GFS to users — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.26 Presentation of GFS flows related to natural resources — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.27 Relationship between GFS and IPSAS — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.28 Tax expenditures, tax deferrals, and other similar incentives — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
- 2.29 Retained earnings of public corporations and their impact on fiscal analysis — Discussion Notes: Download PDF; Proposed Recommendations: ; Notices of Decision:
- 2.30 Methodological guidance on compilation and analyzing SOE data — Discussion Notes: Download PDF; Proposed Recommendations: Download PDF; Notices of Decision:
- 2.31 GFS within fiscal analysis and policymaking — Discussion Notes: Download PDF; Proposed Recommendations: Download PDF; Notices of Decision:
- 2.32 Balance Sheet Analysis — Discussion Notes: ; Proposed Recommendations: ; Notices of Decision:
Content in this bundle
- GFSM 2014 Update Progress
- Discussion Note 21 Boundary Between Government and Public Nonfinancial Corporations
- Discussion Note 230 Methodological Guidance on Compilation and Analyzing Soe Data Consultatio
- Discussion Note 231 Gfs in Fiscal Analysis Policymaking Consultation March2026
- Discussion Note: 2.6 Further defining and subclassifying extrabudgetary units
- Discussion Note 28 Debt Valuation Issues Consultation March2026
- Discussion Note 29 Debt Assumption and Debt Payments on Behalf of Others Consultation March20
- Gfsm Discussion Note 219 Accounting in Gfs for Natural Resources and Their Exploitation
- Gfsm Discussion Note 222 Assumption of Pension Obligations
- Discussion Note: 2.23 Employee benefits
- Gfsm Discussion Note 229 Retained Earnings of Public Corporations and Their Impact on Fiscal Analys
- 2.3 Indigenous Governments
- Proposed Recommendations Document: 1.1 Valuation principles and methodologies
- GFSM 2014 update — Proposed Recommendations Document: 1.12 Reverse transactions
- Proposed Recommendations Gfsm 2014 Update 113 Financial Derivatives by Type
- Proposed Recommendations Gfsm 2014 Update 114 Capturing Nonbank Financial Intermediation
- Proposed Recommendations Gfsm 2014 Update 115 Treatment of Cash Collateral
- Proposed Recommendations Gfsm 2014 Update 116 Treatment of Factoring Transactions
- F.18 The Recording of Crypto Assets in Macroeconomic Statistics
- Proposed Recommendations Gfsm 2014 Update 126 Treatment of Trusts and Other Types of Funds as Sepa
- Proposed Recommendations: 1.3 Treatment of centralized currency unions in macroeconomic statistics
- Proposed Recommendations Gfsm 2014 Update 132 Recording of Share Buybacks
- Proposed Recommendations Gfsm 2014 Update 133 the Statistical Treatment of Negative Interest Rates
- Proposed Recommendations Gfsm 2014 Update 134 Clarification on Reserve Position in the Imf
- Proposed Recommendations Gfsm 2014 Update 135 Recording of Central Bank Swap Arrangements in Macro
- Proposed Recommendations Gfsm 2014 Update 1 11 Identifying Valuing and Reporting Government Data as
- GFSM 2014 update — Proposed Recommendations: 1.19 Treatment of special purpose entities
- Proposed Recommendations: 1.2 Treatment of Rent
- Proposed Recommendations Gfsm 2014 Update 1 22 Treatment of Emission Trading Schemes
- Proposed Recommendations Gfsm 2014 Update 1 23 Environmental Classifications Within Gfs
- Proposed Recommendations Gfsm 2014 Update 1 24 Distinction Between Taxes Services and Other Flows
- Proposed Recommendations: 1.4 Citizenship-by-Investment
- Proposed Recommendations Gfsm 2014 Update 1 5 Treatment of External Assets and Related Income Decla
- GFSM 2014 update — Proposed Recommendations: 1.6 Financial and Operating Leases
- Proposed Recommendations Gfsm 2014 Update 1 7 Recording of Fines and Penalties
- Proposed Recommendations Gfsm 2014 Update 1 9 Improving the Recording of Governmentcontrolled Nonre
- Proposed Recommendations: 1.10 Super-dividends and Reinvested Earnings of Public Corporations
- Proposed Recommendations: 1.17 Debt concessionality
- Proposed Recommendations Gfsm 2014 Update 120 Payments for Nonproduced Knowledgebased Capital Mark
- Proposed Recommendations Document: 1.21 Islamic finance
- Proposed Recommendations Gfsm 2014 Update 125 Relationship Between Sna and Ipsasifrs
- Proposed Recommendations Gfsm 2014 Update 127 Consistency in the Application of the Sumofcosts App
- Proposed Recommendations Gfsm 2014 Update 128 Workinprogress Transfer of Ownership and Capital Ser
- Proposed Recommendations Gfsm 2014 Update 129 Add Clarifications on the Treatment of Terminal Cost
- Proposed Recommendations Gfsm 2014 Update 130 Distinction Between Maintenance and Capital Repairs
- Proposed Recommendations Gfsm 2014 Update 131 Treatment of the Transfer of Leased Assets At the En
- Proposed Recommendations: 36 Statistical Treatment of Precious Metal Accounts
- Proposed Recommendations Gfsm 2014 Update 18 Valuation of Unlisted Equity
- Proposed Recommendations Gfsm 2014 Update 21 Boundary Between Government Controlled Nonmark
- Proposed Recommendations Gfsm 2014 Update 230 Methodological Guidance on Compilation and An
- Proposed Recommendations Gfsm 2014 Update 231 Gfs Within Fiscal Analysis and Policymaking
- Proposed Recommendations: 2.6 Further defining and subclassifying extrabudgetary units
- Proposed Recommendations Gfsm 2014 Update 28 Debt Valuation Issues
- Proposed Recommendations Gfsm 2014 Update 29 Debt Assumption and Debt Payments on Behalf of
- IMF GFSAC: Notice of Decision - GFSM 2014 Update
- GFS Notice of Decision 1.10 Super-dividends and Reinvested Earnings of FDI Entities
- GFS Notice of Decision 1.11 Identifying, Valuing and Reporting Government Data Assets
- IMF GFSAC: Notice of Decision - GFSM 2014 Update
- IMF GFSAC: Notice of Decision - GFSM 2014 Update
- GFSM 2014 update
- IMF GFSAC: Notice of Decision - GFSM 2014 Update
- IMF GFSAC: Notice of Decision - GFSM 2014 Update
- GFS Notice of Decision 1.17 Debt concessionality
- Notice of Decision Gfsm 2014 Update 118 the Recording of Crypto Assets in Macroeconomic Statistics
- GFSM 2014 update — GFS Notice of Decision 1.19 Treatment of SPEs and Residency
- GFSM 2014 update — GFS Notice of Decision: 1.2 Treatment of Rent
- GFS Notice of Decision 1.20 Payments for non-produced knowledge-based capital
- GFSM 2014 update — GFS Notice of Decision 1.21 Islamic finance
- GFS Notice of Decision 1.22 Treatment of Emissions Trading Schemes
- GFS Notice of Decision 1.23 Environmental Classifications within GFS
- Notice of Decision Gfsm 2014 Update 124 Distinction Between Taxes Services and Other Flows
- GFSM 2014 update — GFS Notice of Decision 1.25 Relationship between SNA and IPSAS/IFRS
- Notice of Decision Gfsm 2014 Update 126 Treatment of Trusts and Other Types of Funds as Separate I
- GFS Notice of Decision 1.27 Consistency in the application of the sum-of-costs approach
- GFS Notice of Decision 1.28 Work-in-progress, transfer of ownership and capital services
- Notice of Decision Gfsm 2014 Update 129 Clarifications on the Treatment of Terminal Costs During O
- GFS Notice of Decision: 1.3 Treatment of Centralized Currency Unions in Macroeconomic Statistics
- Notice of Decision Gfsm 2014 Update 130 Distinction Between Maintenance and Capital Repairs for in
- Notice of Decision Gfsm 2014 Update 131 Treatment of the Transfer of Leased Assets At the End of T
- IMF GFSAC: Notice of Decision - GFSM 2014 Update
- Notice of Decision Gfsm 2014 Update 133 Clarification on the Statistical Treatment of Negative Int
- IMF GFSAC: Notice of Decision - GFSM 2014 Update
- Notice of Decision Gfsm 2014 Update 135 Recording of Central Bank Swap Arrangements in Macroeconom
- GFSM 2014 update — GFS Notice of Decision 1.36 Treatment of precious metal accounts
- GFSM 2014 update — GFS Notice of Decision 1.4 Citizenship-by-Investment Programs
- GFS Notice of Decision 1.5 Treatment of Assets and Related Income Declared Under Tax Amnesty
- GFS Notice of Decision 1.6 Financial and Operating Leases
- GFSM 2014 update — GFS Notice of Decision 1.7 Recording of Fines and Penalties
- GFS Notice of Decision: 1.8 Valuation of unlisted equity
- Notice of Decision Gfsm 2014 Update 19 Improving the Recording of Governmentcontrolled Nonresident
- Process and Timeline for Updating the Gfsm 2014
References