At the request of the Ministry of Economy and Finance (MEF) and in consultation with the Africa Department (AFR) of the International Monetary Fund (IMF), a remote Government Finance Statistics (GFS) mission from the Statistics Department (STA) took place in Madagascar from October 26 to November 13, 2020. The objective of this mission was to continue supporting the authorities in their project to adopt international GFS standards based on the methodology of the Government Finance Statistics Manual 2014 (GFSM 2014) and the Public Sector Debt Statistics Guide (PSDSG) and to improve GFS in general.
government in 2010. The treasury records public debt at face value rather than market value.
Source data The primary source of the GFS is the budget management system accounting records maintained by the Treasury. Data on domestic and foreign financing in the GFS are provided by the Central Bank of Armenia (CBA). Assessment of source data Quality controls embedded in the government accounting and reporting system covering the different government units routinely assess reports to ensure the accuracy of source data, including source data on publicsectordebt. Statistical
/domestic creditor breakdowns.
48 Importantly, when a net debt concept is explicitly introduced, yields on assets should be stripped away from the calculation of the primary balance definition.
49 This difficulty may be partially circumvented with the provision of a benchmark analysis using the concept of debt net of liquid assets, which should be widely available, thus providing a homogenous basis to undertake comparisons.
1 For further information, see PublicSectorDebtStatistic Guide ( http://www.tffs.org/PSDStoc.htm ).
Modernizing the framework for fiscal policy and public debt sustainability analysis (DSA) has become necessary, particularly in light of the recent crisis and rising sustainability concerns in some advanced economies. While recognizing the inherently challenging nature of such analysis, this paper highlights areas where improvements are needed and makes both general and specific proposals on how this could be achieved. It also proposes to move to a risk-based approach to DSAs for all market-access countries, where the depth and extent of analysis would be commensurate with concerns regarding sustainability, while a reasonable level of standardization would be maintained.
This paper presents the Republic of Armenia’s report on the Observance of Standards and Codes and detailed assessment using the data quality assessment framework. Armenia exceeds Special Data Dissemination Standard requirements for both periodicity and timeliness in releases of data on unemployment, general government operations, analytical accounts of the central bank, merchandise trade, international investment position, and population. Armenia meets periodicity and exceeds timeliness on production index, employment, wages, consumer price index, producer price index, central government operations, analytical accounts of the central bank, and merchandise trade.