Methodology
The External Debt Statistics Guide
TFFS has started the update of the External Debt Statistics: Guide for Compilers and Users (EDS Guide) to take account of changes introduced in the 2008 System National Accounts (2008 SNA) and the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6). The IMF published the first EDS Guide in English in 2003. It is also available in Arabic, Chinese (File 1) and (file 2), French, Spanish, and Russian. The 2003 EDS Guide provides a comprehensive conceptual framework for the measurement of gross external debt of the public and private sectors.
The updated EDS Guide maintains the overall structure of the 2003 EDS. The draft chapters constituting the Conceptual Framework (Part I) and selected appendices have been posted for public comment. The remaining chapters and appendices will be posted for public comments in November 2012. The pre-publication version of the updated EDS Guide will be released in 2013.
To keep abreast of economic developments and changing data needs in economic analysis, the 1993 SNA and BPM5 were updated in 2008-2009. The TFFS closely monitored the changes brought about by these updates to assess their impact on the 2003 EDS Guide and identify any necessary changes. Overall, the EDS Guide remains largely consistent with the updated standards. Only a limited number of methodological changes have been required in the EDS Guide and were discussed in the following document: Update of the External Debt Guide on Issues Emerging from BPM6, approved at the March 2009 meeting of the TFFS.
The Public Sector Debt Statistics Guide
There has been widespread policy and user interest in improving the availability and international comparability of public sector debt statistics. To help meet this interest, the TFFS promoted the development of a Public Sector Debt Statistics Guide (PSDS Guide) and a Public Sector Debt Database (see Data Availability).
The PSDS Guide provides a comprehensive conceptual framework, and compilation advice, for the measurement of public sector debt. The classifications and definitions used in the PSDS Guide are harmonized with the 2008 SNA and BPM6. The same classifications and definitions will be used in the forthcoming revision of the Government Finance Statistics Manual, but differ in minor ways from the current edition, the Government Finance Statistics Manual 2001 (GFSM 2001).
Like the EDS Guide, the PSDS Guide is a cooperative effort of TFFS agencies, with the IMF's Statistics Department leading the drafting work.