Codes and Country Status
What are the main standards and how do they relate?
IMF Balance of Payments Manual and Related Guides
This is the main reference, covering FDI, portfolio and other investment. The 6th Edition (BPM6) was published in 2008. Most countries are presently on the 5th Edition (BPM5), and some countries are still moving from the 4th Edition. The challenge is for countries to move to the 6th Edition as soon as possible.
Since its publication in 1993, BPM5 has been supplemented by several supporting manuals and guides, including the BOP Textbook (which elaborates on BPM5), the BOP Compilation Guide (which includes reporting formats and practical advice), the International Investment Position Guide to Data Sources (on the presentation of stocks and flows data), the Coordinated Portfolio Investment Survey (which categorises the various types of flows, and provides advice on their monitoring), the Financial Derivatives Supplement, and most recently, the Coordinated Direct Investment Survey, which countries will be implementing in 2009/10, and the Remittances Compilation Guide. In addition to these, there are numerous discussion papers.
IMF et al External Debt Guide
The External Debt Statistics Guide for Compilers and Users (2003) covers the presentation of external debt including private non-guaranteed in more detail, in line with loan-by-loan monitoring. This is due to be updated during 2011-13 to take account of changes in BPM6.
OECD Benchmark Definition of FDI
The OECD published the 4th Edition of its Benchmark Definition of Foreign Direct Investment in 2008. It can be consulted for additional detail on compilation, and suggestions for analysis.
IMF Data Standards Bulletin Board
The General Data Dissemination System (GDDS) and the more challenging Special Data Dissemination Standard (SDDS) require countries to meet standards with respect to data coverage, frequency of collection, timeliness of dissemination, along with guidelines for accessibility etc. Participating countries periodically upload a description of their sources and methods to the IMF’s Data Standards Bulletin Board. The IMF also conducts missions to assess compliance with the standards and codes (Reports on the Observance of Standards and Codes (ROSC)), using its Data Quality Assessment Framework (DQAF). This information is also posted on the Bulletin Board.
How are countries faring?
Information on country progress with respect to compliance, frequency, coverage, and analytical breakdown may be downloaded from this site.
Downloads
- Country status table
- “Making FPC Data Available”, Strategies for Financing Development #34 (page 15)
- “BPM6: Developments and Implications”, Strategies for Financing Development #36 (page 13)
- “International Data Codes and Standards”, in Monitoring and Analysing Foreign Investment (Chapter 4)
- Private Sector External Debt: Main Issues and Challenges for Monitoring (Section 2.4)
Links
• IMF Balance of Payments Manual 6th Edition
• IMF Balance of Payments Manual 5th Edition
• IMF International Investment Position: A Guide to Data Sources
• IMF Coordinated Direct Investment Survey Guide
• IMF Coordinated Portfolio Investment Survey Guide
• IMF Financial Derivatives: A Supplement to BPM5
• IMF et al External Debt Statistics: Guide for Compilers and Users
• IMF Remittances Compilation Guide
• IMF Data Standards Bulletin Board
• OECD Benchmark Definition of Foreign Direct Investment (4th Edition)
