Review of the Framework for Data Adequacy Assessment for Surveillance

Policy Papers, January 5, 2024

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Reviews the framework for Data Adequacy Assessment for Surveillance, a key element of the policies that govern the requirements for Data Provision to the Fund for Surveillance Purposes, aimed at ensuring high-quality data for economic analysis and policy advice.
The Data Adequacy Assessment requires staff to assess, in the context of Article IV consultations, the adequacy of data provided to the Fund for surveillance purposes, the implications of data inadequacies for surveillance, and the need for corrective measures.
Responds to the recommendation of the Independent Evaluation Office’s report “Behind the Scenes with Data at the IMF: An IEO Evaluation” and previous guidance provided by the IMF Executive Board.

Introduces a new framework to prepare the Data Adequacy Assessment, ensuring greater objectivity and granularity in the assessment.
Data adequacy will become more prominent in surveillance discussions by including a new Data Issues Annex in the staff report, which will replace the current Statistical Issues Appendix in the Informational Annex.
The new framework includes a DAA questionnaire (referenced in Keywords as "DAA questionnaire") to structure the assessment and dialogue.

The new framework will facilitate policy dialogue with country authorities on macro-critical data issues.
Enhances the integration of surveillance and capacity development.
Requires staff to evaluate: the adequacy of provided data for surveillance purposes; the implications of any data inadequacies for surveillance; and the need for corrective measures.

Economic and financial statistics
Financial statistics
Government finance statistics
Monetary policy
Political economy
Special Data Dissemination Standard (SDDS) and Special Data Dissemination Standard Plus (SDDS+)