2017年-IMF国际货币组织全球_Uganda_Technical_Assistance_Report„Report_on_the_Financial_Transactions_and_Balance_Sheets_Mission_IMF_Country_Report_No_17293_September_2017_37页_1013kb

Summary of the Technical Assistance Report on Financial Transactions and Balance Sheets in Uganda

Core Content

This technical assistance report was prepared by the International Monetary Fund (IMF) in response to a request from the Bank of Uganda (BOU) and in consultation with the African Department. The mission, conducted from January 5 to 16, 2015, aimed to improve the financial transactions and balance sheets by institutional sectors in Uganda, aligning them with the System of National Accounts 2008 (2008 SNA). The report outlines the current institutional and legal setting, the approach to developing integrated sectoral accounts, and a detailed action plan for the implementation of financial accounts.

Main Objectives

• Improve the financial transactions and balance sheets by institutional sectors in line with the 2008 SNA.
• Develop a holistic approach to financial accounts that highlights the interconnectedness of the four main economic sectors.
• Establish data collection and transmission arrangements with relevant agencies to ensure consistency and accuracy of financial data.

Key Points

1. Institutional and Legal Setting

• The Statistics Department (SD) of the BOU comprises four divisions: real, external, monetary and financial, and fiscal statistics.
• The Real Sector Division (RSD) is responsible for compiling financial transactions (flow of funds accounts) and balance sheets.
• The mission noted that there is currently no formal agreement between the BOU and the Uganda Bureau of Statistics (UBOS) on the division of responsibilities for compiling sectoral accounts.
• The RSD has eight staff members, with two currently working on quarterly flow of funds (FOF) accounts. Additional staff will be allocated to support the project.

2. Current Data Sources and Challenges

• The BOU has been compiling quarterly FOF accounts since 2012 using data from various sources, including the Government Finance Statistics (GFS), balance of payments, monetary and financial statistics (MFS), and the Statistical Abstract.
• However, the current data coverage and breakdown do not fully comply with the 2008 SNA framework.
• There is a need for improved understanding and application of the 2008 SNA framework among the RSD staff.

3. Data Sources for Nonfinancial Corporations (NFCs)

• The main data sources for NFCs include:
  • The Office of Accountant General (OAG) and the Uganda Revenue Authority (URA).
  • The URA provides financial reports of NFCs annually, which can be used to estimate financial assets and liabilities.
• The URA agreed to provide data for 90% of total assets of all NFCs and to improve the quality of data based on feedback from the BOU.

4. Data Sources for Financial Corporations (FCs)

• FCs are divided into:
  • Central bank (Bank of Uganda)
  • Deposit-taking corporations (DTCs), including commercial banks, credit institutions, microfinance institutions (MFIs), and SACCOs
  • Other financial corporations (OFCs), including insurance companies, pension funds, collective investment schemes (CIS), and financial auxiliaries

5. Recommendations

• The BOU should retain existing staff and increase staff strength in the RSD to support the compilation of financial transactions and balance sheets.
• Collaboration with UBOS is recommended for the compilation of nonfinancial accounts for the general government and financial corporation sectors.
• The RSD should enhance its capacity to understand and implement the 2008 SNA framework.
• The BOU should work with the URA to obtain regular financial data for nonfinancial corporations.
• The BOU should collaborate with relevant agencies to agree on data requirements, frequency, timeliness, and transmission arrangements.
• The mission recommended using counterparty data and micro databases to estimate financial assets and liabilities for the NFCs sector.

Key Action Plan

1. Development of Financial Transactions and Balance Sheets

• Objective: Develop financial transactions and balance sheets by institutional sectors following the 2008 SNA framework.
• Indicators:
  • Annual and quarterly financial stocks and transactions.
  • Current and capital accounts for institutional sectors.
• Completion Date: 2017/18.
• Implementation Status: Ongoing collaboration with data providers and additional staff allocation.

2. Collaboration with Agencies

• IRAU: Agreed to provide data on insurance companies.
• URBRA: Agreed to provide data on pension funds.
• URA: Agreed to provide financial reports of nonfinancial corporations.
• CMA: Agreed to provide quarterly data on corporate bonds and equities.
• MOFPED: Agreed to provide data on the government sector.
• OAG and Privatization Unit: Agreed to provide data on public nonfinancial corporations.

3. Staff Allocation

• Additional staff will be allocated to the RSD to support the project.
• The mission emphasized the need for improved capacity and training of the RSD staff in the 2008 SNA framework.

Conclusion

The mission concluded that while the development of experimental financial transactions and balance sheets is feasible in the near future, the compilation of final accounts consistent with nonfinancial accounts will require more time and additional data sources. The BOU is encouraged to enhance its collaboration with relevant agencies and improve its internal capacity to effectively implement the 2008 SNA framework.