Economic and Financial Statistics in the Context of the Global by hcj

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									 The Inter-Agency Group on Economic
 and Financial Statistics (IAG) and the
       G-20 Data Gaps Initiative
                        Alfredo M. Leone
                        Acting Director,
                     Statistics Department

                          Side Event at the
44th Session of the United Nations Statistical Commission
                  New York, February 25, 2013
           The views expressed herein are those of the author and should not be
           attributed to the IMF, its Executive Board, or its management
                                                             2
The IAG and the G-20 Data




                                                  • Links
                            • The                   to
                                       • Progr      other
      Gaps Initiative




                              Data
                                         ess        Initia
                              Gaps
                                         to         tives
                              Initia
                                         Date
                              tive                • The
                                       • Princi     Way
                            • Inter
                                         pal        Forw
                              natio
                                         Globa      ard
                              nal
                                         l
                              Colla               • Concl
                                         Indic
                              borati                uding
                                         ators
                              on                    Rema
                                                    rks
            The Data Gaps Initiative
                          Conceptual/statistical framework needs        Conceptual/statistical frameworks exist
                          development                                   and ongoing collection needs enhancement
Build-up of risk in the   # 3 (Tail risk in the financial system and    # 2 (Financial Soundness Indicators (FSIs))
financial sector          variations in distributions of, and
                          concentrations in, activity)                  # 5 (Credit Default Swaps)

                          # 4 (Aggregate Leverage and Maturity          # 7 (Securities Data)
                          Mismatches)

                          # 6 (Structured products)
Cross-border financial    # 8 and # 9 (Global network connections and   # 10 and # 11 (International Banking
linkages                  systemically important global financial       Statistics (IBS) and the Coordinated Portfolio
                          institutions)                                 Investment Survey (CPIS))

                          # 13 and # 14 (Financial and Nonfinancial     # 12 (International Investment Position (IIP))
                          Corporations cross‑border exposures)


Vulnerability of          # 16 (Distributional Information)             # 15 (Sectoral Accounts)
domestic economies to
shocks                                                                  # 17 (Government Finance Statistics)

                                                                        # 18 (Public Sector Debt)

                                                                        # 19 (Real Estate Prices)

Improving                                                               # 20 (Principal Global Indicators)
communication of
official statistics

                                                                                                                         3
International Collaboration

                         n The initiative involves a great
                           deal of collaboration among
                           international institutions:
      IMF                  n Work is coordinated by the
                             Inter-Agency Group on
FSB
                             Economic and Financial
        IAG: BIS, ECB,       Statistics (IAG).
         Eurostat, IMF
        (chair), OECD,
          UN, World        n Reporting to the G-20 Finance
             Bank
                             Ministers and Central Bank
                             Governors is made by the IMF
                             and the FSB.


                                                             4
Progress to Date




                   5
    Principal Global Indicators
qA product of the Inter-Agency Group
 (IAG)
qBrings together data for G-20 economies
 and ten non-G-20 economies with
 systemic financial sectors
qOne-stop shop
qhttp://www.principalglobalindicator
 s.org/default.aspx



                                           6
Links to Other Initiatives
                         Strengthening
                         International
                            Financial
                       Architecture (TRS)




     Shadow
   Banking and                                     Capital Flows
   Legal Entity                                       Work
    Identifiers              G-20
                             Data
                             Gaps
                           Initiative



            G-20 Action
              Plan to
           Develop Local                    SDDS and
             Currency                       SDDS Plus
              Bonds
             Markets



                                                                   7
The Way Forward
                            Key
 Process
                        Deliverables

    IAG ongoing          Implementation of G
 videoconferences          -SIFIs template




Consultations with G      Implementation of
 -20 economies on          GFS and sectoral
  implementation          accounts templates



                          Implementation of
G-20 Senior Officials
                              BIS’s IBS
Meeting (mid-2013)
                            enhancements




Next Progress Report      Implementation of
 (September 2013)         CPIS enhancements



                                               8
         Concluding Remarks:
         The View of the G-20
Recognizing the need for adequate statistical
resources, we endorse the progress report of
the FSB and the IMF on closing information
gaps, and in particular look forward to the
implementation of the data reporting templates
for global systemically important financial
institutions.

 Communiqué of the G-20 Finance Ministers and
    Central Bank Governors at their meeting in
        Mexico City on November 5, 2012

                                                 9
   Thank you!

The views expressed herein are those of the author and should not be
attributed to the IMF, its Executive Board, or its management
                                                              10

								
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