{
  "title": "IMF Announces the Release of a New Database on Special Purpose Entities (SPEs)",
  "publication": "IMF News, March 2, 2022",
  "sourceUrl": "https://www.imf.org/en/news/articles/2022/03/02/pr2253-imf-announces-the-release-of-a-new-database-on-special-purpose-entities",
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  "summary": "IMF Announces the Release of a New Database on Special Purpose Entities (SPEs)",
  "publishDate": "2022-03-02",
  "sections": [
    {
      "heading": "Database scope and methodology",
      "content": "- The IMF released an international database on the cross-border flows and positions of Special Purpose Entities (SPEs).\n- The database, for the first time, is based on a common methodology, including an internationally agreed definition of SPEs, endorsed by the IMF Committee on Balance of Payments Statistics.\n- The database includes information that allows the separate identification of SPEs within the balance of payments and international investment position statistics of participating countries."
    },
    {
      "heading": "Coverage and data release details",
      "content": "- Includes data from 25 economies, including several offshore centers, in this first annual release, with more economies to be added soon.\n- Includes, in this release, annual data for 2020 for all participating economies, as well as historical data and/or quarterly data for 2021 for some economies.\n- Going forward, the database will be disseminated on an annual basis, with increased country coverage.\n- The list of participating economies is available here."
    },
    {
      "heading": "Purpose, significance, and expected impact",
      "content": "- SPEs are described as entities set up in countries of convenience and low-tax jurisdictions.\n- In a complex, global financial system with increased cross-border transactions and positions, SPEs play an important role.\n- Disclosure about SPE activities in external sector statistics is expected to contribute to a better understanding of the cross-border flows and stocks associated with real economic activities.\n- The IMF states the database is a major step towards addressing data gaps related to cross-border exposures and improving the transparency and international comparability of external sector statistics."
    },
    {
      "heading": "Relationship to other international efforts",
      "content": "- The IMF’s SPE database complements the information disseminated by the Organization for Economic Co-operation and Development (OECD) and Eurostat for their member countries.\n- The database is the outcome of an international effort within the auspices of the IMF Committee on Balance of Payments Statistics’ Task Force on SPEs.\n- The Final Report of the Task Force on SPEs is available at https://www.imf.org/external/pubs/ft/bop/2018/pdf/18-03.pdf\n\nSource: IMF Press Release No. 2253, March 2, 2022\n\n---\n\n Content in this bundle\n\n- 18 03 (PDF){rel=\"external\" type=\"application/pdf\"}\n- 20 26 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Press Releases\n- PRESS CENTER\n- database\n- IMF Committee on Balance of Payments Statistics\n- here\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2022/03/02/pr2253-imf-announces-the-release-of-a-new-database-on-special-purpose-entities"
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    "Published: March 2, 2022",
    "The IMF released an international database on the cross-border flows and positions of Special Purpose Entities (SPEs).",
    "The database, for the first time, is based on a common methodology, including an internationally agreed definition of SPEs, endorsed by the IMF Committee on Balance of Payments Statistics.",
    "The database includes information that allows the separate identification of SPEs within the balance of payments and international investment position statistics of participating countries.",
    "Includes data from 25 economies, including several offshore centers, in this first annual release, with more economies to be added soon.",
    "Includes, in this release, annual data for 2020 for all participating economies, as well as historical data and/or quarterly data for 2021 for some economies.",
    "Going forward, the database will be disseminated on an annual basis, with increased country coverage.",
    "The list of participating economies is available here.",
    "SPEs are described as entities set up in countries of convenience and low-tax jurisdictions.",
    "In a complex, global financial system with increased cross-border transactions and positions, SPEs play an important role.",
    "Disclosure about SPE activities in external sector statistics is expected to contribute to a better understanding of the cross-border flows and stocks associated with real economic activities.",
    "The IMF states the database is a major step towards addressing data gaps related to cross-border exposures and improving the transparency and international comparability of external sector statistics.",
    "The IMF’s SPE database complements the information disseminated by the Organization for Economic Co-operation and Development (OECD) and Eurostat for their member countries.",
    "The database is the outcome of an international effort within the auspices of the IMF Committee on Balance of Payments Statistics’ Task Force on SPEs.",
    "The Final Report of the Task Force on SPEs is available at https://www.imf.org/external/pubs/ft/bop/2018/pdf/18-03.pdf",
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    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[database](http://data.imf.org/bop)",
    "[IMF Committee on Balance of Payments Statistics](https://www.imf.org/external/bopage/bopindex.htm)",
    "[here](https://data.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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