G20 Conference fills gaps in statistical data

On May 12-13, 2016, the Bank of Russia hosted a regional international conference to promote a joint initiative launched by G20 Members to fill gaps in statistical data.

Ksenia Yudaeva, the First Deputy Governor of the Bank of Russia, pointed out in her opening address the importance of implementing the tasks to provide the users with qualitative statistical data needed to adequately analyse a financial situation and make accurate administrative decisions.

The participants in the conference summed up the results of the first stage of the G20 initiative to fill gaps in statistical data and shared their experience in accomplishing their goals. The strategy for the implementation of the second stage of this initiative was considered by the participants in a step-by-step format of reaching the targets of each recommendation. They voiced what they believe from their countries’ standpoint to be priority recommendations and pointed out the basic challenges they might face to carry them out. The speakers called for concrete proposals to international organisations on expanding their actual involvement in this activity. In their turn, the representatives of the international organisations answered the questions from the participants of the conference and discussed not only perspectives of accomplishing new basic targets by their countries but also a possibility to fulfil more ambitious plans.

At the end of the forum its participants defined the most critical directions and intermediate goals in implementing the second stage of this initiative by G20 Member States.

The conference was attended by specialists from ministries and departments representing India, the Russian Federation, Saudi Arabia and the Republic of South Africa responsible for the implementation of this initiative as well as delegates of some international organisations, namely the International Monetary Fund, the Bank for International Settlements and the Financial Stability Board.