Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC) organised a training programme on “Balance of Payments Statistics” at the Central Bank of Yemen Republic on 24-25 March 2014, within the framework of OIC Central Banks Capacity Building Programme (CB-CaB). The seminar was provided by Mr. Serdar Erkılıç, Deputy Director, Statistics Department, Balance of Payments Division of Central Bank of the Republic of Turkey with participation of relevant members of Central Bank of the Republic of Yemen.
Considering the importance of timely, comprehensive, coherent and internationally comparable statistics on Balance of Payments (BOP)/International Investment Position (IIP) and other related external sector statistics in the aftermath of the recent global financial crisis from the perspective of monetary policy, external vulnerabilities and financial stability analysis, the seminar provided training on the methodology for collecting and compiling of these statistics in line with internationally accepted standards. Recent developments and challenges also were discussed regarding the implementation of the IMF’s new Balance of Payments Manual 6th Edition (BPM6).
The seminar mainly covered the following topics:
- Overview of IMF’s new BOP and IIP Manual (BPM6)
- BOP and IIP Statistics
- ITRS and Direct Reporting, International Trade in Services (ITS) Statistics
- Foreign Direct Investment Statistics (Flows and Stocks)
- Selected External Debt Statistics
- Loan-by-Loan Data Collection System at CBRT
The seminar targeted Central Bank officials whose main responsibility is to compile Balance of Payments/International Investment Position statistics and consisted of a series of discussions which provided the participants with an opportunity to discuss problems encountered and also to share their experiences in their work regarding the compilation process.