2020/10/07

The Financial Stability Board (FSB) and International Monetary Fund (IMF) published the Fifth Progress Report – Countdown to 2021 in light of COVID-19 on the implementation of the second phase of the G20 Data Gaps Initiative (DGI-2). The report highlights progress since the previous report in September 2019 and the remaining steps to implement the DGI-2 recommendations in 2021. The 2020 DGI work program was extended by six months to December 2021 due to the pandemic. Positive developments include enhancements in compilation processes, data sharing arrangements, production, and dissemination of additional tables, as well as instrument and sector breakdowns. Many participants support an organized international collaboration process to continue addressing data needs beyond 2021.

Policymakers’ need for granular, relevant, and reliable data has increased due to the COVID-19 crisis. A possible new mandate could help address emerging policy questions. A general framework could be defined in 2021 and presented in the next DGI-2 progress report in the second half of 2021.

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