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Moving into the 21 st Century: Development and Progress on Data Communication

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 macro-economic statistics ♦ Developments in datasets ♦ Developments in projects

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Moving into the 21 st Century: Development and Progress on Data Communication

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

  2. Agenda ♦ Current environment ♦ Recent financial crisis and macro-economic statistics ♦ Developments in datasets ♦ Developments in projects ♦ Questions

  3. 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

  4. The Current Environment Online products but in different formats ♦ IFS, BOP, DOT, GFS http://www.imfstatistics.org/imf/ ♦ 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 http://www.imf.org/

  5. 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

  6. 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

  7. 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

  8. General Other depository Other financial Nonfinancial Other resident Central bank government corporations corporations corporations sectors Nonresidents Holder of liability (creditor) Issuer of liability (debtor) Central bank General government Other depository corporations Other financial corporations Nonfinancial corporations Other resident sectors Nonresidents 2008 Developments Balance Sheet Approach (BSA)

  9. 2008 Developments MODEL FOR SRF DATA FLOW STANDARDIZED REPORT FORMS, 1SR, 2SR, 4SR, and 5SR STA Publications Area Department Work (IMD) National Publications Balance Sheet Approach (BSA) IFS IFS Supplement

  10. 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 - 2007 data will show up in Data Mapper in early December - IIP world tables ♦ Expanded Coordinated Portfolio Investment Survey (CPIS) coverage http://www.imf.org/external/np/sta/pi/datarsl.htm ♦ 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

  11. 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 Q1 2009 issue of DOT with the new aggregates ♦March 31, 2009 Publish COFER data through Q4 2008 with the new aggregates

  12. 2008 Developments Changes to the STA Group Aggregates: Aligning with the WEO Group Definitions (Continued)

  13. 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

  14. 2008 Developments Data Dissemination Projects ♦ Economic Data Warehouse (EDW) - IMF.Stat ♦ Economic Data Dissemination (EDD)

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

  16. 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

  17. 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

  18. 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)

  19. Data Entrance (IMF.org, e-Library, e-Bookstore) Show Me Find MeLite Find Me Report Compiler Advisor and Decision Maker Model Feeder Researcher Storyteller Use Me Scoop Me Report Me Consume Me EDD: How to Find the Data From other pages and sites

  20. 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

  21. Questions?

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