Is the Working Group fit with other existing discussions and efforts such as the discussions within the FSB?This activity will complement ongoing discussions on remittances in the FSB and the G-20. The Global Remittances Working Group is a co-sponsor of this initiative. The group of countries participating in the Call to Action to Keep Remittance Flowing launched last year by the UK, Switzerland and KNOMAD/World Bank) had also supported this initiative to improve data.
What is the number and the level of participants who can join the “International Working Group on Improving Data on Remittances?”
Many countries have nominated a principal and an alternate to the Working Group.
We have sent invitations to around 85 countries, the IMF and the Eurostat, requesting central banks to nominate a staff members (a principal and an alternate) with technical knowledge of balance of payments concepts and more specifically, of compilation of data on remittance flows (inbound or outbound). The staff members’ level would be in terms of experience and expertise and responsibilities to perhaps a lead economist or experienced senior economist level staff of the World Bank or the IMF. In many central banks, that might imply a director or head of the division level.
Some degree of flexibility may be required, that the nominee(s) may need to involve/consult other colleagues from their organization.
What are the countries that already expressed their interest in participating in the Working Group?As of May 2, 2022, confirmations received from Austria, Azerbaijan, Croatia, El Salvador, Georgia, Germany, Italy, the Kyrgyz Republic, Mexico, the Philippines, Sri Lanka, Sapin, and the European Commission and the IMF.