Review Of The Framework For Data Adequacy Assessment For Surveillance
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Review Of The Framework For Data Adequacy Assessment For Surveillance
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Author : International Monetary Fund. Statistics Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-01-05
Review Of The Framework For Data Adequacy Assessment For Surveillance written by International Monetary Fund. Statistics Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-05 with Business & Economics categories.
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.
Austria
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-05-13
Austria written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-13 with Business & Economics categories.
Strong policy responses have helped to mitigate the impact of the recent shocks. Output recovered rapidly from the pandemic and, in response to the energy price shock, the authorities made use of available fiscal room to mitigate its impact while preserving price signals to encourage lower gas consumption and taking steps to secure access to additional gas supplies. Despite these efforts, the economy slipped into recession over the last few quarters, with high energy prices, elevated inflation, and higher interest rates weighing on output and demand. Inflation still persists above the euro-area average even as it has steadily declined since January 2023, in particular as services inflation has proved to be sticky amid high wage growth. Over the medium term, demographic headwinds pose significant fiscal and growth challenges.
Spain
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2025-06-06
Spain written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-06-06 with categories.
The Spanish economy has been performing strongly, propelled by services exports and labor force growth, including immigration. Growth is projected to reach2.5 percent in 2025, before slowing as its recent drivers normalize. The disinflation process is expected to continue, with headline and core converging close to the ECB’s target by end-2025. Most risks are to the downside, including from a further escalation of trade measures and domestic political fragmentation.
Hungary
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-08-02
Hungary written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-08-02 with categories.
Hungary is emerging from a period of shocks. The pandemic, Russia’s war in Ukraine, and crisis-related stimulus widened fiscal and external imbalances and triggered double-digit inflation in 2022. Thanks to an effective monetary policy response aided by falling commodity prices and a tighter fiscal stance in 2023, inflation came down significantly, while the labor market and financial sector remained resilient. A large current account deficit in 2022 turned into a surplus, and output is starting to recover. However, significant challenges remain. The fiscal deficit and public-debt-to GDP ratios are well above 2019 levels, and various windfall taxes have created investor uncertainty. Interest rate caps and subsidized lending measures have distorted market rates, and a significant state presence in key sectors impedes competition.
Republic Of Kazakhstan
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2025-01-31
Republic Of Kazakhstan written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-01-31 with Business & Economics categories.
After reaching 5.1 percent in 2023, growth is expected to slow to 3.9 percent in 2024, while inflation would decline to 8.2 percent. The banking sector remains resilient amid continued rapid consumer credit growth. A moderate current account deficit is expected this year. The outlook is subject to elevated risks, including from an uncertain external environment. Decisive reforms are necessary to diversify the economy, make growth higher and more inclusive, and address challenges from climate change.
Republic Of Latvia
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-09-05
Republic Of Latvia written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-09-05 with categories.
The Latvian economy contracted with significant disinflation against the backdrop of geopolitical headwinds. Persistent services inflation, driven by strong nominal wage growth amid tight labor markets, keeps core inflation elevated. Productivity growth has failed to match real wage increases, weighing on competitiveness. The economic consequences of Russia’s war in Ukraine continue to depress private investment and productivity, thus compromising further Latvia’s lagging income convergence. The government needs to address long-term spending pressures related to its priorities and multiple transitions around climate change and energy, aging and skilled labor shortages, and rising defense costs. The coalition’s priorities include managing the fallout from the war in Ukraine, ensuring energy independence, addressing social issues, and pursuing tax reform.
Malta
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2025-01-22
Malta written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-01-22 with Business & Economics categories.
Malta has experienced strong growth over the past decade, primarily driven by export-oriented service industries, such as tourism and online gaming. Although growth is expected to moderate, it will remain among Europe's highest in the near term, along with tight labor markets. Inflation has fallen to around 2 percent, but some inflationary pressures remain in the service sector. Strong growth has been supported by an influx of foreign workers and tourists, leading to increased density and strain on infrastructure and public services. This has raised concerns about the sustainability of the labor-intensive growth model. The financial system has demonstrated resilience amid successive shocks.
Republic Of Korea
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2025-02-07
Republic Of Korea written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-02-07 with Business & Economics categories.
The Korean economy has remained resilient against multiple shocks. Economicgrowth has recovered, inflation has steadily declined, and financial stability risks havedecreased. However, downside risks have increased amid high uncertainty from policyshifts in major trading partners and recent domestic political developments. Keymedium-term challenges are to boost the growth potential amidst rapid populationaging, and to adapt to shifting trade patterns, transformative technological change, andclimate vulnerabilities.
South Africa
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2025-01-30
South Africa written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-01-30 with categories.
A new Government of National Unity (GNU) has been in place since June 2024, which the markets have welcomed. The GNU faces difficult challenges: declining GDP per capita, high unemployment, poverty and inequality, and rising public debt and debt service, which crowd out other urgent spending needs. Its fresh mandate represents an opportunity to pursue ambitious reforms to safeguard macroeconomic stability and address these challenges, placing the economy on a path toward higher, more inclusive, and greener growth.
Central African Economic And Monetary Community Cemac
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2025-03-11
Central African Economic And Monetary Community Cemac written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-03-11 with categories.
The CEMAC’s economy lost momentum in 2023. The external position weakened, with the current account shifting to a deficit and foreign reserve accumulation slowing. While inflation continued to ease, it remained elevated. Available data indicate a deterioration in the underlying fiscal positions of many countries. The near-term outlook points to stronger economic activity, with growth projected to accelerate to 3.2 percent in 2024, supported by elevated oil prices and a rebound in oil output. However, the end-June 2024 regional policy assurance on NFA––and, according to preliminary information, the end-December 2024 targets––were not met, indicating a deviation in reserves from the targeted path. Debt vulnerabilities have also worsened in some countries, as evidenced by the growing pressures in the regional government debt market. Following the strong commitment expressed at the extraordinary Heads of State Summit in December 2024 to address macroeconomic imbalances and strengthen regional institutions, all countries are expected to tackle fiscal slippages, restore fiscal prudence, and implement structural reforms to steer the region toward a more resilient medium-term outlook. This should help reduce risks to the capacity to repay the Fund. However, the projections remain uncertain, as the details of corrective measures and reforms are still being finalized between staff and national authorities.