1. Uses of Balance of Payments & International Investment Position Statistics Course on Balance of Payments and International Investment Position Manual (BPM6) IMF-PFTAC Nadi November 22-December 1, 2010 DM01

2. Introduction  Who are the users?  What are the uses of BOP/IIP statistics?  Users need quality statistics – what are their requirements?  Educating and communicating with users 1/20/20162

3. Who are the users?  Central government and central bank, i.e. government agencies concerned with economic management of the external sector and the economy as a whole  External resource providers (including IMF)  Direct investors  Portfolio investors  Foreign debt lenders  Aid donors 1/20/20163

4. Who are the users? Cont.  Large domestic enterprises and agencies responsible for industry, including  Large public enterprises, foreign owned enterprises, large exporters, tourism industry, telecommunication and IT industry, government industry agencies, government regulatory and revenue agencies (e.g. Customs) The economic intelligence community such as tertiary educators, research bodies & press Community, citizens, educators, investors, aid workers, tourists, etc. 1/20/20164

5. What are the uses of BOP/IIP statistics?  Tool for economic management  Understanding and forecasting the external and domestic sectors of the economies  Setting exchange rate, interest rate, government expenditure and settings, and industry policy  Resource allocation  Monitoring returns on investments and success of policy  Assessing overall economic, social & environment health  Making infrastructure and other investment decisions 1/20/20165

6. What are the uses of BOP/IIP statistics? Cont.  Monitoring and investing in particular sectors  Foreign direct investment  Portfolio investment  Foreign debt  Transportation  Tourism  Income flows from fishing licences, remittances, etc  Foreign aid 1/20/20166

7. What is meant by quality statistics?  Users need statistics that are: Comprehensive, detailed & easily understood Expanding their understanding Timely & frequent Accurate (strengths and weaknesses explained) Concepts, classifications, presentation, sources and methods explained Meet international standards 1/20/20167

8. Educating and communicating with users  BOP compiler has responsibility to explain statistics to users? Educator) KISS & honesty Communicator ) KISS & honesty  The BOP compiler is the expert  Have confidence in what you are doing  Have creditability  Determine what you don’t know and fix it 1/20/20168