The Financial Stability Board (FSB) and International Monetary Fund (IMF) published the second progress report on the implementation of phase two of the G20 Data Gaps Initiative (DGI-2). The report updates on the work undertaken since September 2016 to advance implementation of the twenty recommendations aimed at addressing the data gaps identified after the global financial crisis and promote the regular flow of timely and reliable statistics for policy use. The report has been delivered to the G20 Finance Ministers and Central Bank Governors ahead of their meetings in Washington D.C. in October.

The report shows substantial progress has been achieved during the first year of the DGI-2, despite challenges in the implementation of some recommendations. A new monitoring framework to help assess and track progress in implementing the twenty DGI-2 recommendations has been agreed with the G20 economies and a traffic light monitoring dashboard, included in the report, provides a concise overview of such progress. Country notes explain in more detail specific accomplishments and challenges in each jurisdiction.

To facilitate further progress, the 2018 DGI-2 work program will continue to include thematic workshops to support participating economies’ efforts on the implementation of the most challenging recommendations.

It is intended that all DGI-2 recommendations are fully implemented by 2021. To this end, high-level political support is crucial to ensure that adequate resources are allocated to DGI-2 implementation and more complex work streams are thoroughly and timely addressed.

To read the – Second phase of the G20 Data Gaps Initiative (DGI-2): Second Progress Report – click here

Source: FSB

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