Moving into the 21 st Century: Development and Progress on Data Communication ESDS International Annual Conference London, December 1, 2008.

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Presentation transcript:

Moving into the 21 st Century: Development and Progress on Data Communication ESDS International Annual Conference London, December 1, 2008

Agenda Current environment Recent financial crisis and macroeconomic statistics Developments in datasets Developments in projects Questions

The Current Environment Traditional products in print, online, & CD-ROM Balance of Payments Statistics Direction of Trade Statistics Government Finance Statistics International Financial Statistics Supporting statistical materials in print and on web Manuals and Guides Pamphlets Official Reports

The Current Environment Online products but in different formats IFS, BOP, DOT, GFS Static online tables: - International Reserves - Coordinated Portfolio Investment Survey (CPIS) - Currency Composition of Foreign Exchange Reserves (COFER) FTP site for large data downloads Data Mapper at

Analyze Recent Financial Crisis with Economic and Financial Statistics Salient recent features captured by macro-economic and financial data Growth in monetary aggregates Increasing leverage by financial institutions Imbalances in current accounts Fiscal deficits Growing net international investment positions

2008 Developments Government Finance Statistics GFS online was launched in October 2008 High frequency government finance statistics - Started publishing in IFS August 2007 issue - Expansion of country reporting - Improvement of data timeliness

2008 Developments Monetary and Financial Statistics Standardized Report Forms (SRFs) - Developed a coherent and standard framework for reporting monetary data across countries - SRFs present monthly data with a high level of details - An Integrated Monetary Database (IMD) provides common data sources to compile monetary statistics that satisfy the operational and publication needs of the country and the IMF Balance Sheet Approach (BSA) - Currency and instrument breakdowns in SRFs help to identify currency and capital structure mismatches and generate balance sheet approach matrix Financial Soundness Indicators (FSI) - Work is underway to initiate regular data collection and dissemination

2008 Developments GeneralOther depositoryOther financialNonfinancialOther resident Central bankgovernmentcorporations sectorsNonresidents Central bank General government Other depository corporations Other financial corporations Nonfinancial corporations Other resident sectors Nonresidents Holder of liability (creditor) Issuer of liability (debtor) Balance Sheet Approach (BSA)

2008 Developments MODEL FOR SRF DATA FLOW STANDARDIZED REPORT FORMS, 1SR, 2SR, 4SR, and 5SR IFS Supplement STA Publications Area Department Work (IMD) National Publications Balance Sheet Approach (BSA)

2008 Developments Balance of Payments Statistics Completion of 2008 BOP Yearbook - It provides detailed tables on balance of payment statistics for 174 countries and international investment position data for 116 countries data will show up in Data Mapper in early December - IIP world tables Expanded Coordinated Portfolio Investment Survey (CPIS) coverage Reserve Template and Currency Composition of Foreign Exchange Reserves Future development - BPM6 - Coordinated Direct Investment Survey (CDIS) - Link the BSA with the to-whom from-whom datasets

2008 Developments Changes to the STA Group Aggregates: Aligning with the WEO Group Definitions December 1, 2008 Publish BOPSY 2008 with the new aggregates January 2, 2009 Publish January 2009 issue of IFS with the new aggregates February 1, 2009 Publish GFSY 2008 with the new aggregates March 1, 2009 Publish Q issue of DOT with the new aggregates March 31, 2009 Publish COFER data through Q with the new aggregates

2008 Developments Changes to the STA Group Aggregates: Aligning with the WEO Group Definitions (Continued)

2008 Developments Change the Baseyear to 2005 Update the PPP-GDP weights with 2005 as the reference year Baseyear change from 2000=100 to 2005=100 for the index series Complete the rebasing by May 2009 and publish the data with 2005 as the baseyear in June 2009 IFS

2008 Developments Data Dissemination Projects Economic Data Warehouse (EDW) - IMF.Stat Economic Data Dissemination (EDD)

IMF Economic Information Management Environment IMF.ORG Statistics Portal Online Databases Publications Pub.Stat? Data Dissemination Data Warehousing Data Collection National Sources ICS (Excel/ SDMXML) Area Depts DMX/Other Data Management Research Prognoz CD ROM Statistics EDF/ DMX Intl Organizations OECD, World Bank, etc. Commercial Bloomberg, Global Insight, Haver Analytical, etc. Publishable Data IFS, WEO, REOs, etc. Internally Shared Data Area & Functional Depts., National Sources, Intll Organizations, Commercial Sources Limited Sharing WEO-related, etc. IMF.Stat SDMX Fund-wide Metadata Standards (MetaStore, DSBB, SchemaLogic) Key Driving Initiatives SDMX WEO Production Redesign Structural Metadata (SchemaLogic) Economic Data Dissemination Data Analysis/ Visualization Econometric Tools Fame, Eviews,Stata 8 Dynamic/Interactive Graphics IMF Data Mapper

EDW: What is IMF.Stat? Software developed by OECD Took the database, browser and other tools Now working together in a joint effort to enhance the product Have a Memorandum of Understanding (MOU) which describes the arrangement

EDW: Access to data Currently available internally, though likely to be available externally in future Data available through - A web browser Ad hoc queries Saved queries Export to Excel Bulk export (CSV) - Excel populator Allows data to be refreshed directly from Excel

EDD: How to Serve Different Types of Users Five user mindsets that our research suggests users approach our data with: –Advisor and Decision Maker (Use Me) –Researcher (Scoop Me) –Report Compiler (Report Me) –Model Feeder (Consume Me) –Storyteller (Show Me)

EDD: How to Find the Data Show MeFind Me Scoop MeReport MeConsume Me Storyteller Advisor and Decision Maker ResearcherReport CompilerModel Feeder Use Me Find Me Lite Data Entrance (IMF.org, e-Library, e-Bookstore) From other pages and sites

EDD: Next Steps Develop detailed requirements, including usability, functional and IT requirements Select specific IT solution(s) for the dissemination environment, using a Request for Proposal process by April 2009 Implement the dissemination system by April 2010

Questions?