June 2017 Claudia Dziobek, Chief, IMF Real Sector

Transcript:June 2017 Claudia Dziobek, Chief, IMF Real Sector:
June 2017 Claudia Dziobek, Chief, IMF Real Sector Division (email: cdziobek@imf.org) Jürgen Reitmaier, EITI International Secretariat Macro-Statistics for Natural Resources: IMF and EITI Cooperation Introduction The IMF Statistics Department has developed two statistical tools to produce measures on natural resources that can support policymaking: Template to Collect Data on Government Revenues from Natural Resources (Revenue Template) Guide to Analyze Natural Resources in National Accounts (National Accounts Template) Why? Natural Resources are macro-critical for about 30 percent of IMF member countries In most of these countries, governments rely heavily on revenues from natural resources Cross country comparisons require consistent classifications Both templates are designed to help countries with EITI reporting 2 The Revenue Template The standard revenue template is based on the revenue classification of the Government Finance Statistics Manual 2014 (GFSM 2014). The template provides detailed categories to cover all government revenues from natural resource enterprises. These categories include breakdowns from GFSM 2014 categories for selected items (e.g., rent). The template has been successfully field-tested in six countries: Indonesia, Kazakhstan, Mongolia, Norway, Peru, and Zambia. All national revenue streams were linked to the template categories and a pilot dataset for 4-6 years was collected for each country. 3 The Revenue Template 4 The Revenue Template In February 2015 the International Secretariat of the EITI included the standard revenue template as one of three tables in its Summary Data Template (SDT), which all member countries must attach to their EITI reports. A module of the standard revenue template is being developed for inclusion in an IMF online course “Macroeconomic Management for Resource-Rich Economies”. 5 The National Accounts Template The National Accounts Template is based on the System of National Accounts, 2008 (2008 SNA) and comprises eight Template Tables: Contribution of Natural Resource Industries to GDP Distribution of the Income of Natural Resource Enterprises Labor in the Natural Resource Industries Contributions of the Natural Resource Industries to Volume Change in GDP Contributions of Prices Paid and Received by the Natural Resource Industries to the GDP Deflator Terms of Trade Index Quarterly Indicators of Contribution of the Natural Resource Industries to GDP Quarterly Indicators of Contribution of the Natural Resource Industries to Exports of Goods and Services Testing occurred in nine countries: Australia, Canada, Chile, Lesotho, Kyrgyz Republic, Mongolia, Mozambique, Sierra Leone, and Zambia. 6 The National Accounts Template The contribution of Natural Resources to GDP, 16.5 percent in this example, is relevant