Private cross-border financial flows and stocks have grown to account for an increasingly significant part of overall transactions and positions in many African countries. Direct reporting through enterprise surveys has become a key data source to enable these flows and stocks to be measured accurately. This paper describes a multi-year IMF technical assistance project to establish direct reporting in six African countries (The Gambia, Ghana, Kenya, Mauritius, Mozambique, and Nigeria). Annual enterprise surveys are now established in all six countries with secured internal funding, and the survey results have been incorporated to varying degrees into the balance of payments and International Investment Position statistics. The paper describes the step-by-step advice that was provided to the countries and the lessons learned as the advice was adapted to their particular situations. It is hoped that these case studies will serve as a useful reference for other countries embarking on efforts to establish direct reporting of cross-border financial flows and stocks.
Quin, S.; Egesa, K.; Murad, H. Direct Reporting of Private Sector Cross-Border Financial Flows and Stocks in Selected African Countries. International Monetary Fund Statistics Department, (2013) 52 pp.