Review of the Framework for Data Adequacy Assessment for Surveillance

January 5, 2024

Preview Citation

Format: Chicago

Review of the Framework for Data Adequacy Assessment for Surveillance, (USA: International Monetary Fund, 2024) accessed November 21, 2024

Summary

This paper reviews the framework for Data Adequacy Assessment for Surveillance, which is 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. In line with 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, this paper 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 the 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 will facilitate the policy dialogue with country authorities on macro-critical data issues and enhance the integration of surveillance and capacity development.

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

Keywords: Article IV consultation, Capacity Development, DAA framework, DAA questionnaire, Data, Data provision, Data Provision to the Fund for Surveillance, Financial statistics, Global, Government finance statistics, IMF's transparency policy, Macroeconomic and Financial Analysis, Macroeconomic and Financial Statistics, Policy dialogue, Special Data Dissemination Standard (SDDS), Special Data Dissemination Standard Plus (SDDS+), Surveillance

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2024/002
Stock No:

PPEA2024002
ISBN:

9798400262777
ISSN:

2663-3493

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