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Economy
Dec 21, 2024

IMF publishes G20 DGI-3 reports  

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The Second Progress Report on the implementation of the Third Phase of the G20 Data Gaps Initiative (DGI-3) report published by the International Monetary Fund (IMF) provides an update on the work undertaken since September 2023 to address critical data gaps that impede the policymakers’ ability to develop economic and financial policy to address climate change, financial innovation, and inclusive growth.

The G20 Finance Ministers and Central Bank Governors (FMCBGs) welcomed the Progress Report in their October 2024 communiqué, said a press note of the IMF.

In 2024, a higher number of G20 and participating economies reported working to address data gaps across several recommendations, with significant increases in efforts to close the data gaps attributed to the work of the DGI Task Teams.

Notable progress was observed in the economies’ efforts to close data gaps related to Greenhouse Gas (GHG) emissions and household distributional information.

Significant progress has been made in measuring household distributional information. Several G20 economies are releasing data to support policy work in this area.

In addition, the new experimental household wealth data developed by the European System of Central Banks for the Euro area marked a significant advancement in addressing the DGI-3 recommendation on household wealth.

For the next year, the DGI-3 work plan focuses on finalizing methodological frameworks and reporting templates or updating existing ones, as well as developing and/or disseminating (experimental) estimates.

To facilitate further progress, the work program includes a global conference planned for June 2025, thematic workshops, consultations and bilateral meetings.

The Financial Crisis and Information Gaps report published by the FSB and the IMF every year since 2009 has explored information gaps and provided appropriate proposals for strengthening data collection.