Data Adequacy Assessment and Data Provision to the Fund for Surveillance Purposes

Thursday, July 25, 2024 at 14:00-15:30 Vienna time (CEST) 

Panelists

Mr. Nabil Ben Ltaifa, Senior Economist - Lead desk on Bosnia and Herzegovina in the European Department of the IMF
Mr. Dmitry Plotnikov, Senior Economist in the Macro Policy Division of the IMF’s Strategy, Policy and Review Department
Ms. Samah Torchani, Economist in the IMF’s Statistics Department
Mr. Laurent Kemoe, Economist in the Macro Policy Division (SPRMP) of the IMF’s Strategy, Policy and Review Department

The first half of the webinar outlined the new IMF Data Adequacy Assessment (DAA) framework that was introduced since February 1, 2024. The presentation highlighted the added benefits stemming from the framework’s structure, granularity, and closer integration with surveillance. The new framework is an important tool in the dialogue with the authorities about data issues and it stands to benefit the identification of capacity development priorities. The first half also included a conversation with a member of the IMF team for Bosnia and Herzegovina. The team used the new framework recently and found it a significant improvement over the previous framework.

The new framework combines different tools to assess data adequacy including a detailed questionnaire, a heatmap highlighting key data strengths and weaknesses and a write-up section. All country teams are currently applying the new framework in line with the main topics of each Article IV consultation. More details about the new framework and its implementation can be found here.

The second half of the webinar focused on the 2024 Review of the data provision framework to the IMF. Dmitry presented what the data provision requirements were before the 2024 review, elaborated on what motivated this most recent update of data provision requirements and talked about the new requirements. 

The Data Provision to the Fund for Surveillance Purposes (DPF) framework will continue relying on cooperation by Fund members, while allowing for flexibility in the modalities of data provision. The expansion of the perimeter of required data provision will help address important data needs and further improve Fund surveillance. The new data provision requirements are in the area of public sector data (in particular, general government), foreign exchange intervention (including spot and derivative transactions) and macrofinancial indicators. The transitional period for the new data requirements is 1-3 years depending on the indicator. 

Dmitry Plotnikov, Senior Economist, IMF
Jose Daniel Rodriguez Delgado, Senior Economist, IMF