FSB and IMF published the second progress report on the implementation of phase two of the G20 Data Gaps Initiative (DGI-2). The report provides update on the work undertaken on DGI-2 since September 2016, when the first progress report was published. The work is being undertaken to advance implementation of the twenty recommendations aimed to address the data gaps identified after the global financial crisis and promote the regular flow of timely and reliable statistics for policy use. The report has been delivered to the G20 Finance Ministers and Central Bank Governors ahead of their meetings in Washington DC in October.
The report shows that substantial progress has been made during the first year of the DGI-2, despite challenges in the implementation of some recommendations. A new monitoring framework to help assess and track progress in implementing the twenty DGI-2 recommendations has been agreed with the G20 economies and a traffic light monitoring dashboard, included in the report, provides a concise overview of this progress. Country notes explain detailed accomplishments and challenges in each jurisdiction.
To facilitate further progress, the 2018 DGI-2 work program will continue to include thematic workshops to support efforts participating economies on the implementation of the most challenging recommendations. All DGI-2 recommendations are intended to be fully implemented by 2021. To this end, high-level political support is crucial to ensure that adequate resources are allocated to DGI-2 implementation and more complex workstreams are thoroughly and timely addressed.
Keywords: International, Banking, DGI, Progress Report, G20, IMF, FSB
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