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FSB and IMF Publish 2021 Progress Report on the G20 Data Gaps Initiative
October 7, 2021
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IMF Communications Department
MEDIA RELATIONS
PRESS OFFICER: Pemba Sherpa
Phone: +1 202 623-7100Email: MEDIA@IMF.org
October 7, 2021
PRESS OFFICER: Pemba Sherpa
Phone: +1 202 623-7100Email: MEDIA@IMF.org
Washington, DC: The Financial Stability Board (FSB) and International Monetary Fund (IMF) today published the Sixth Progress Report - Countdown to December 2021 on the implementation of the Second Phase of the G20 Data Gaps Initiative (DGI-2).
2021 marks the final year of the second phase of the Data Gaps Initiative (DGI-2), and the twelfth year since the G20 Finance Ministers and Central Bank Governors endorsed the twenty recommendations made by IMF staff and the FSB Secretariat to address the data gaps identified during the Global Financial Crisis of 2007-08.
The report highlights that:
In October 2009, the FSB and IMF published
The Financial Crisis and Information Gaps, a report which responded to a request from the G20 Ministers and
Governors to explore information gaps and provide appropriate proposals for
strengthening data collection. The report, which set out a series of
recommendations to address identified data gaps, was endorsed by G20
Ministers and Governors and led to the first phase of work (DGI-1). In
September 2015, it was agreed that the DGI work should continue into a
second phase
(DGI-2).
The main objective of DGI-2 is to implement the regular collection and dissemination of reliable and timely statistics for policy use. DGI-2 also includes new recommendations to reflect evolving policymaker needs. Its twenty recommendations are 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.
The member agencies of the Inter-Agency Group on Economic and Financial Statistics (IAG) are the Bank for International Settlements, European Central Bank, Eurostat, IMF (Chair), Organisation for Economic Co-operation and Development, United Nations and the World Bank. The FSB participates in the IAG meetings.
Press enquiries:
FSB: +41 61 280 8138 press@fsb.org
IMF: +1 (202) 623-4277 psherpa@IMF.org
