Conference on Capital Flows and Debt Statistics: Can We Get Better Data Faster?

Conference Sponsored by
The Statistics Department and the Policy and Development Review Department of the International Monetary Fund in Cooperation with the Financial Stability Forum Working Group on Capital Flows

Washington, D.C., February 23–24, 2000

Purpose: To bring together data users and compilers to review the capital flow and debt data needed to improve policy making and facilitate risk management, and, in particular, to discuss the questions: What actions and resources would be required to provide better data more quickly and what should be given priority?

Wednesday, February 23

7:00 p.m.  Working Dinner 
(Venue: IMF Headquarters, The Galleria)
Welcome (Ms. Carol Carson)
Objective of the conference and main issues 
(Mr. Stanley Fischer)
Perspective from the FSF Working Group on Capital 
Flows (Mr. Mario Draghi)
Close (Mr. Jack Boorman)  

Thursday, February 24
(Venue: IMF Headquarters, Room B-702)

Improving the Framework--Coverage, Quality, Periodicity, and Timeliness of Capital Flow and Debt Statistics

Debtor and IIP Data
9:00 a.m. 1.   Core data

Purpose:To discuss improvements in the core debtor data such as those proposed for the new SDDS data category for external debt (within the IIP framework), their purposes, and the practicalities of compiling the data.

(Issues include: frequency and timeliness; transition periods; information on short-term maturities)

Introduction (Ms. Carol Carson)
Speakers (Mr. Nouriel Roubini and Mr. Paul Cheung)
Discussants (Mr. Lewis Alexander and Mr. Deepak
   Mohanty)
General discussion 

10:30 a.m.   Coffee break

11:00 a.m.   2. Supplementary data

Purpose:

To discuss what other debtor information is required and the practicalities of compiling the data.

(Issues include: financial derivatives; domestic versus foreign currency denomination; nominal versus market values, etc.)

Introduction (Ms. Carol Carson)
Speakers (Mr. Paul Tucker and Ms. Miki Eran)
Discussant (Ms. Christina Kruse)
General discussion 

12:30 p.m.   Review and Summing Up by Chair
   (Ms. Carol Carson) 

12:45 p.m.   Luncheon Hosted by the IMF
  Address by Ms. Caroline Atkinson

Creditor and Market Data

Purpose:To discuss selected initiatives underway by international organizations and by national compilers to close some of the gaps in the availability of external debt data by making use of creditor and market sources of information.

2:30 p.m.   BIS data; Joint Debt Statistics; Coordinated Portfolio Investment Survey; offshore financial centers; and securities databases

Introduction (Mr. Jack Boorman)
Speakers (Mr. Philip Turner and Mr. Guillermo Le Fort)
Discussants (Mr. Enrique Sanchez and Mr. Antonello
   Biagioli)
General discussion 

4:00 p.m.   Coffee break

Other Initiatives

Purpose:To discuss areas where high-frequency information is needed, with focus on systems used by national authorities to monitor foreign exchange transactions and positions, including for market surveillance purposes. 

4:30 p.m.   High frequency reporting

Introduction (Mr. Jack Boorman)
Speakers (Mr. James Lau and Mr. Dino Kos)
General discussion 

5:30 p.m.   Review and Summing up by Chairs--Mr. Jack Boorman and Ms. Carol Carson