Review of the Framework for Data Adequacy Assessment for Surveillance

International Monetary Fund

No 2024/002, IMF Policy Papers from International Monetary Fund

Abstract: 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.

Keywords: Data; Macroeconomic and Financial Statistics; Surveillance; Capacity Development; Article IV consultation; Data Provision to the Fund for Surveillance; Macroeconomic and Financial Analysis; DAA questionnaire; DAA framework; policy dialogue; IMF's transparency policy; data provision; Government finance statistics; Special Data Dissemination Standard Plus (SDDS+); Special Data Dissemination Standard (SDDS); Financial statistics; Global (search for similar items in EconPapers)
Pages: 20
Date: 2024-01-05
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