{
  "title": "Setting the Scene - The Need for a New Data Gaps Initiative",
  "publication": "IMF News, February 23, 2022",
  "sourceUrl": "https://www.imf.org/en/news/articles/2022/02/23/sp022322-setting-the-scene-the-need-for-a-new-data-gaps-initiative",
  "canonical": "https://www.imf.org/en/news/articles/2022/02/23/sp022322-setting-the-scene-the-need-for-a-new-data-gaps-initiative",
  "overlayPath": "/en/news/articles/2022/02/23/sp022322-setting-the-scene-the-need-for-a-new-data-gaps-initiative/index.md",
  "summary": "Phase 2 of the Data Gaps Initiative closed in December 2021, resulting in the availability of a comprehensive, standardized, and timely set of data for policy makers to understand the trends and risks in the global financial and economic system, as identified during the 2007–08 Global Financial Cris",
  "authors": [
    "Louis Marc Ducharme Side Event"
  ],
  "publishDate": "2022-02-23",
  "sections": [
    {
      "heading": "Context and purpose",
      "content": "- Phase 2 of the Data Gaps Initiative closed in December 2021, resulting in the availability of a comprehensive, standardized, and timely set of data for policy makers to understand the trends and risks in the global financial and economic system, as identified during the 2007–08 Global Financial Crisis.\n- The G20 Finance Ministers and Central Bank Governors (FMCBGs) has asked the IMF, in close cooperation with the Inter-agency Group on Economic and Financial Statistics (IAG) and the Financial Stability Board (FSB), to prepare a concept note and a detailed workplan on a new Data Gaps Initiative (DGI).\n- Objective of the New DGI: address the most relevant policy needs, and when possible, build on and further develop the established statistical infrastructure, while gathering the political support essential for successful implementation.\n- Coordination requirement: carefully coordinate with other existing international statistical workstreams to avoid duplication and exploit synergies."
    },
    {
      "heading": "Scope and focus of the New DGI",
      "content": "- Planned launch: later this year.\n- The New DGI will leverage the success of previous DGI Phases 1 and 2, which were collaborative efforts of participating economies and international organizations, supported by an effective peer pressure mechanism and the support of the G20.\n- The draft workplan focuses on four topics:\n  - (1) Climate Change;\n  - (2) Household Distributional Information;\n  - (3) Fintech and Financial Inclusion; and\n  - (4) Access to Private and Administrative data and Data Sharing.\n- The development of the workplan has resulted in 14 draft recommendations, of which seven focused on climate change related indicators.\n- While focused on G20 and non-G20 FSB member economies, the New DGI provides other economies with an important incentive to develop climate change data and indicators directly related to economies."
    },
    {
      "heading": "Process, consultations, and institutional roles",
      "content": "- The draft workplan was prepared by the IMF in close collaboration with IAG members and the FSB, and includes input from representatives of the Italian and Indonesian G20 Presidencies.\n- The initial version benefited from feedback received during several rounds of consultation with compilers and users to ensure a balance between data needs and statistical capacity.\n- Consultations are ongoing; progress to date is attributed to sustained and dedicated efforts by participating economies and international agencies.\n- The event emphasizes the role of national statistical offices in the New DGI, particularly for climate change related recommendations."
    },
    {
      "heading": "Presentations and engagement at the side event",
      "content": "- The side event is a contribution to the 53rd Session of the UN Statistical Commission and is co-organized with the UN Committee of Experts on Environmental Economic Accounting (UNCEEA) and the UN Statistics Division.\n- Presentations referenced:\n  - Indonesia and Germany will present on how economies are addressing or planning to address data gaps and produce indicators to monitor the transition to a low carbon economy, within the System of Environmental-Economic Accounting (SEEA) framework.\n- The program includes a closing panel discussion focusing on the role of national statistical offices and encourages active participant contributions."
    },
    {
      "heading": "Contact and logistics (as listed)",
      "content": "- IMF Press Center: password-protected site for working journalists.\n- PRESS OFFICER:\n  - Phone: +1 202 623-7100\n  - Email: MEDIA@IMF.org\n  - @IMFSpokesperson\n\nBy Louis Marc Ducharme. Side Event of 53rd Session of the UN Statistical Commission. February 23, 2022.\n\n---\n\n\n References\n\n- Louis Marc Ducharme\n- Germany and the IMF\n- Indonesia and the IMF\n- Speeches\n- PRESS CENTER\n- Data Gaps Initiative\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2022/02/23/sp022322-setting-the-scene-the-need-for-a-new-data-gaps-initiative"
    }
  ],
  "bullets": [
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    "Authors: Louis Marc Ducharme Side Event",
    "Published: February 23, 2022",
    "Phase 2 of the Data Gaps Initiative closed in December 2021, resulting in the availability of a comprehensive, standardized, and timely set of data for policy makers to understand the trends and risks in the global financial and economic system, as identified during the 2007–08 Global Financial Crisis.",
    "The G20 Finance Ministers and Central Bank Governors (FMCBGs) has asked the IMF, in close cooperation with the Inter-agency Group on Economic and Financial Statistics (IAG) and the Financial Stability Board (FSB), to prepare a concept note and a detailed workplan on a new Data Gaps Initiative (DGI).",
    "Objective of the New DGI: address the most relevant policy needs, and when possible, build on and further develop the established statistical infrastructure, while gathering the political support essential for successful implementation.",
    "Coordination requirement: carefully coordinate with other existing international statistical workstreams to avoid duplication and exploit synergies.",
    "Planned launch: later this year.",
    "The New DGI will leverage the success of previous DGI Phases 1 and 2, which were collaborative efforts of participating economies and international organizations, supported by an effective peer pressure mechanism and the support of the G20.",
    "The draft workplan focuses on four topics:",
    "The development of the workplan has resulted in 14 draft recommendations, of which seven focused on climate change related indicators.",
    "While focused on G20 and non-G20 FSB member economies, the New DGI provides other economies with an important incentive to develop climate change data and indicators directly related to economies.",
    "The draft workplan was prepared by the IMF in close collaboration with IAG members and the FSB, and includes input from representatives of the Italian and Indonesian G20 Presidencies.",
    "The initial version benefited from feedback received during several rounds of consultation with compilers and users to ensure a balance between data needs and statistical capacity.",
    "Consultations are ongoing; progress to date is attributed to sustained and dedicated efforts by participating economies and international agencies.",
    "The event emphasizes the role of national statistical offices in the New DGI, particularly for climate change related recommendations.",
    "The side event is a contribution to the 53rd Session of the UN Statistical Commission and is co-organized with the UN Committee of Experts on Environmental Economic Accounting (UNCEEA) and the UN Statistics Division.",
    "Presentations referenced:",
    "The program includes a closing panel discussion focusing on the role of national statistical offices and encourages active participant contributions.",
    "IMF Press Center: password-protected site for working journalists.",
    "PRESS OFFICER:",
    "[Louis Marc Ducharme](https://www.imf.org/en/About/senior-officials/Bios/louis-marc-ducharme)",
    "[Germany and the IMF](http://www.imf.org/external/country/DEU/index.htm)",
    "[Indonesia and the IMF](http://www.imf.org/external/country/IDN/index.htm)",
    "[Speeches](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[Data Gaps Initiative](https://www.imf.org/en/News/Seminars/Conferences/g20-data-gaps-initiative)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
  ],
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  "generatedAtUtc": "2026-09-26T01:00:23.067Z"
}