Press Release No. 11/388

Press Release: IMF Launches New Training Course to Promote Understanding of the Linkages Between Macroeconomic Statistics

November 4, 2011

The International Monetary Fund (IMF) today completed its first course on Linkages of Macroeconomic Accounts Statistics at the IMF-Singapore Regional Training Institute.

This two-week course aimed at deepening the understanding of international standards that underpin macroeconomic statistics and the linkages among the four main areas of macroeconomic accounts—national accounts, balance of payments statistics, government finance statistics, and monetary and financial statistics. While other IMF courses focus on the compilation of specific macroeconomic accounts and assist countries in adopting internationally accepted compilation methodologies, the Linkages of Macroeconomic Accounts Statistics course addresses the structure and uses of these statistics. An important part of the course is taking stock of recent developments in statistical standards for macroeconomic data and the implications for data consistency across the four areas.

“Timely collection and analysis of relevant data is a crucial aspect of the continuing upgrade of economic and financial surveillance systems in Asian countries. At the same time, policy design and decision making are critically dependent on the availability of appropriate information,” Mr. Sunil Sharma, Director of the IMF-Singapore Regional Training Institute, said in his closing remarks to participants.

The course in Singapore was attended by 31 officials involved in policy design and implementation in central banks, ministries of finance, and national statistical agencies from 17 Asian countries¹. Participants exchanged views and discussed possible solutions for some of the challenges they face in analyzing macroeconomic statistics and using them in policy formulation.

The IMF plans to offer this course in other regions as part of its regular statistics training curriculum for member countries. In 2010, the IMF delivered about 50 courses and seminars in statistics for over 1,200 government officials.

IMF training courses are held at IMF headquarters in Washington, D.C., regional IMF training centers, and other locations around the world. The IMF-Singapore Regional Training Institute is a joint venture of the IMF and the Government of Singapore; the IMF receives substantial funding from the Government of Japan toward its share of the Institute’s costs, with important additional support from the Government of Australia.

¹ Bangladesh, Bhutan, Brunei Darussalam, Cambodia, Democratic Republic of Timor-Leste, India, Indonesia, Malaysia, Mongolia, Nepal, Philippines, Republic of Korea, People’s Republic of China, Hong Kong Special Administrative Region, Singapore, Sri Lanka, and Thailand