Future Developments in PGI with SDMX-Based Data Collection

1. Future Developments in PGIwith SDMX-Based Data Collection Meeting on the Management of Statistical Information Systems Washington, DC, 21-23 May 2012 René Piché International Monetary Fund

2. Outline • Current PGI website • SDMX – ongoing developments and limitations of PGI processes • New PGI data flow for enhanced data sharing • Next steps

3. What and Who is PGI • Principal Global Indicators Website • Launched in 2009 and hosted by the IMF • A joint undertaking of the Inter-Agency Group on Economic and Financial Statistics (IAG). • IAG: established in 2008 to coordinate statistical issues and data gaps highlighted by the global crisis • Bank for International Settlements (BIS), • European Central Bank (ECB), • Eurostat, • IMF (Chair), • Organisation for Economic Co-operation and Development (OECD), • United Nations (UN), • World Bank (WB).

4. What’s in the PGI? Principal Global Indicators: • provides information on major economic indicators for the Group of 20 economies (G-20) and the five members of the Financial Stability Board that are not part of the G-20 • covers financial, fiscal, external, and real sector statistics that are available at participating international agencies • Data are in comparable units of measure • Data accessible through mobile apps via the PGI SDMX web service • Includes links to data available at websites of international and national agencies

5. Current status • Data for the PGI website are fed from data in publications of international organizations • IMF International Financial Statistics • OECD Main Economic Indicators • World Bank Quarterly External Debt Statistics • The Timeliness of PGI data is linked to the timeliness of the source publications • Key enabler for improving timeliness – the SDMX technical standards and content-oriented guidelines • However: Very little flexibility in the current data work flow process to rely on alternate sources of data

6. SDMX & PGI (1 of 2) 7 IAG Agencies = 7 SDMX Sponsoring Agencies • IAG is actively promoting SDMX implementation • Implementing SDMX web services for dissemination—improving data sharing amongst IAG • Developing SDMX Data Structure Definitions (DSDs) for “global” use for key economic domains (SNA, BOP) • SDMX Sponsors set up 2 SDMX working groups • Technical WG focus on technical specifications and implementation of a global SDMX registry • Statistical WG focus on guidelines for best practices for development and maintenance of DSDs

7. SDMX & PGI (2 of 2) • The IMF has developed the generic infrastructure to “pull-transform-load” SDMX data from other IAG agencies web services • Actively working with IAG agencies to increase the sharing of data on G20 and improve the timeliness of PGI data • The current PGI data flow and processes do not support fully leveraging the potential of available SDMX data

8. PGI Data Flow Chart (as is) OECD ETL process BIS Data Query Load • Extract Data based on PGI Load Queries • Apply Transformations (magnitude, unit descriptor, definition of short term interest rate) IMF Data Warehouse (main repository) IMF Data Warehouse PGI Dataset WB IMF Viewing PGI Tables defined in Presentation Queries

9. PGI Data Flow Chart (to be) OECD BIS ETL process IMF Data Warehouse (EDD) New PGI Database WB PGI Dataset IMF Viewing PGI Tables Alternative Timely Feeds

10. PGI dataflow design

11. Next Steps • Complete the new PGI data work flow • Dissemination hub but with controls and logic • Review data sharing arrangements with Eurostat, ECB, OECD, WB, BIS to better leverage SDMX standards • Investigate way to promote countries’ implementation of SDMX, including for countries’ SDDS “National Summary Data Page”