## FSB and IMF Report on Progress with G20 Data Gaps Initiative

_IMF News, September 21, 2017_

## Source details

**Canonical URL:** [FSB and IMF Report on Progress with G20 Data Gaps Initiative](https://www.imf.org/en/news/articles/2017/09/21/pr17363-fsb-and-imf-report-on-progress-with-g20-data-gaps-initiative)

## Other formats

- [Markdown version](/en/news/articles/2017/09/21/pr17363-fsb-and-imf-report-on-progress-with-g20-data-gaps-initiative/index.md)
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## Bibliographic details
- Published: September 21, 2017

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### Publication and context
- Press Release No. 17/363
- Date: September 21, 2017
- Issuer: IMF Communications Department
- Media relations contact: PRESS OFFICER: Pemba Tshering Sherpa
  - Phone: +1 202 623-7100
  - Email: MEDIA@IMF.org
- FSB press enquiries:
  - Joe Perry
  - Phone: +41 61 280 8138
  - Email: Joe.Perry@fsb.org

### Core update: second progress report on DGI-2
- The Financial Stability Board (FSB) and International Monetary Fund (IMF) published the second progress report on the implementation of phase two of the G20 Data Gaps Initiative (DGI-2).
- The report updates on work undertaken since September 2016.
- The report has been delivered to the G20 Finance Ministers and Central Bank Governors ahead of their meetings in Washington D.C. in October.

### Findings on implementation progress
- Substantial progress has been achieved during the first year of the DGI-2, despite challenges in the implementation of some recommendations.
- A new monitoring framework to help assess and track progress in implementing the twenty DGI-2 recommendations has been agreed with the G20 economies.
- A traffic light monitoring dashboard, included in the report, provides a concise overview of such progress.
- Country notes explain in more detail specific accomplishments and challenges in each jurisdiction.

### Work program and implementation timeline
- To facilitate further progress, the 2018 DGI-2 work program will continue to include thematic workshops to support participating economies’ efforts on the implementation of the most challenging recommendations.
- It is intended that all DGI-2 recommendations are fully implemented by 2021.
- High-level political support is identified as crucial to ensure adequate resources are allocated to DGI-2 implementation and more complex work streams are thoroughly and timely addressed.

### Background and objectives (Notes to editors)
- In 2009, the G20 Finance Ministers and Central Bank Governors endorsed a set of recommendations to support enhanced policy analysis of emerging risks and close the data gaps identified following the global financial crisis (Data Gaps Initiative).
- In October 2009 the FSB and IMF published The Financial Crisis and Information Gaps, a report responding to a request from the G20 Ministers and Governors to explore information gaps and provide appropriate proposals for strengthening data collection; that report led to the first phase of work under DGI-1.
- In September 2015 it was agreed that the DGI work should continue into a second phase.
- The main objective of DGI-2 is to implement the regular collection and dissemination of reliable and timely statistics for policy use and includes new recommendations to reflect evolving policymaker needs.
- DGI-2 comprises twenty recommendations clustered under three main headings:
  - (i) monitoring risk in the financial sector;
  - (ii) vulnerabilities, interconnections and spillovers; and
  - (iii) data sharing and communication of official statistics.
- DGI-2 maintains continuity with the DGI-1 recommendations while setting more specific objectives for G20 economies to compile and disseminate minimum common datasets for these recommendations.

### Inter-Agency Group on Economic and Financial Statistics (IAG)
- Member agencies of the IAG are the Bank for International Settlements, European Central Bank, Eurostat, International Monetary Fund (Chair), Organization for Co-operation and Economic Development, United Nations and the World Bank.
- The FSB participates in the IAG meetings.

### Additional links noted in the page content
- The second progress report (PDF) was referenced on the page as "second progress report" (link to the hosted PDF is included in the source page content).

*Source: FSB and IMF Report on Progress with G20 Data Gaps Initiative — IMF press release, September 21, 2017.*

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## Content in this bundle

- [092117 (PDF)](/external/np/g20/pdf/2017/092117.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/news/articles/2017/09/21/pr17363-fsb-and-imf-report-on-progress-with-g20-data-gaps-initiative_