The Financial Stability Board (FSB) and International Monetary Fund (IMF) published a report to mark the completion of the second phase of the G20 Data Gaps Initiative (DGI-2). This report also lays out priorities for a new initiative led by the IMF to address gaps relating to emerging policy needs.
Despite the progress made during the initiative, challenges remain for some participating economies in fully closing data gaps related to some DGI-2 recommendations, with securities financing transaction data and cross-border exposures of non-bank corporations identified among those challenges.
Participating economies and international organizations will continue to address these remaining challenges. Implementation will be monitored, on an annual basis, as in DGI-2, and the findings will be published on the DGI webpage.
The further workplan covers 14 recommendations under four main statistical and data priorities: (i) climate change; (ii) household distributional information; (iii) fintech and financial inclusion; and (iv) access to private sources of data and administrative data, and data sharing. It will be submitted to G20 Finance Ministers and Central Bank Governors later this year and its recommendations are expected to be implemented within five years after the launch.