Joint MEFMI/IMF workshop on External Sector Statistics

BACKGROUND

Balance of Payments (BOP) and International Investment Position (IIP) statistics are key economic indicators to measure macroeconomic performance and they play a key role in guiding macroeconomic policy. They shed light on the size and composition of a country’s external trade in goods and services, as well as its financial transactions with the rest of the world. They also provide information on the economy’s international financial asset and liability position. All these are crucial variables for assessing current and prospective developments in exchange rates and the country’s vulnerability to external shocks. It is therefore important that these statistics are accurate, relevant, consistent and compiled based on international best practice. Above all, there are significant data disruptions and new developments in the area, which require innovative data collection methods and data sources.

OBJECTIVE To equip participants with skills to:

1. Identify and comprehend the changes in BOP/IIP compilation introduced by the BPM6.

2. Classify and explain the standard components of the BOP/IIP, and how they are compiled,

3. Understand the linkages between the External sector and other sectors; and be able to give an analytical interpretation of the developments in the BOP/IIP, and 4. Learn from the experiences of other countries on how to deal with complex methodological and compilation issues.

CONTENT

The course will consist of the following:

1. Conceptual Framework of the BOP/IIP;

2. Classification and coverage of the Current and Capital Accounts;

3. Classification and coverage of the Financial Accounts;

4. Analysis and use of the BOP/IIP and relationship with other Macroeconomic Accounts; and

5. External Statistics Framework.

TARGET GROUP

The intended audience includes junior to middle level staff involved in BOP/IIP compilation and analysis from Central Banks, Statistics Offices and Ministries of Finance and Planning.