IMF calls on statistics agency to improve methodologies
IMF calls on statistics agency to improve methodologies
Urip Hudiono, The Jakarta Post, Jakarta
In anticipation of increased economic activity and to provide a
more accurate picture of the country's condition, state
statistics agencies must continue improving their methodologies,
says an International Monetary Fund (IMF) statistical system
assessment mission.
Mission head William Alexander said on Tuesday the existing
system was good enough but still had room for improvement to
anticipate rapid changes due to globalization and recent
decentralization.
"The statistical system in Indonesia actually compares very
favorably with other countries in the region, having a number of
strengths which are very important," he said.
One of the strengths, he added, was that the legal and
institutional framework underpinning the whole statistical system
has been strong, providing a basis to protect the independence
and objectivity of the statistics.
"The government does not have access to most statistics
produced in Indonesia before they are released to the public," he
said. "As a result, we have a lot of confidence in the results."
Alexander explained that the mission had also found that the
level of resources allocated for statistical surveys was large
compared to other countries.
"The staff of the statistical system are highly professional
and well trained. They also have been keen to uphold the quality
of their statistical products."
However, the country's statistical system still faces some
problems due to the fact that Indonesia is growing rapidly and as
a result of globalization.
"Indonesia's statistical system must be constantly on guard to
capture new forms of economic activity and adequately report
them," he said.
Alexander gave as an example the importance of capturing new
activities in the service sector as well as keeping surveys of
businesses updated on a regular basis for the national accounts
statistics.
In the case of monetary statistics, new products and
institutions also emerge almost on a daily basis.
"Take for example mutual funds, which is a form of depository
institution," he said.
On the government's finance statistics, the issue of
decentralization has created a need to monitor regional
administrations and strengthen the statistical base there.
"It is also important that the activities of off-budget
organizations be captured," he said.
The IMF mission is expected to wrap up its assessment and
publish the results next week in its Reports on the Observance of
Standards and Codes for Indonesia.
The reports will include compliance of 12 international
standards, including the fund's transparency principles, the
Basel prudent banking practices and Financial Action Task Force's
antimoney laundering recommendations.
The Central Statistics Agency (BPS) publishes macroeconomic
indicators such as gross domestic product growth, the inflation
rate and trade balance, while Bank Indonesia publishes monetary
statistics such as foreign exchange reserves and the country's
balance of payments.