(BOX) SDDS - DQAF View Category: Balance of payments SDDSKey Help on Document Navigation:  To show navigation tree in the side pane, select the menu: View -> Documentmap  Click here to complete Contact Person(s) information  Click here to go to Table of Contents

H.Header data H.0.7 Data category notes [Data category notes] Balance of payments

0. Prerequisites 0.1 Legal environment 0.1.1 Responsibility for collecting, processing, and disseminating statistics [Laws and administrative arrangements specifying the responsibility for collecting, processing, and disseminating statistics] Provisions authorizing the BCB to request information:

Political Constitution of Bolivia (2009), Article 298, the state must have to compiling official statics.

Political Constitution of Bolivia (2009), Article 328, the central has to implement exchange rate‟s politics.

Law 1670, Article 20: The BCB shall issue regulations governing financial operations with other countries, carried out by individuals and by public or private entities.

Law 1670, Article 21: The BCB shall keep a register of public and private external debt.

Law 1670, Article 40: The Superintendence of and Financial Institutions (now The Financial Supervisory Authority) shall submit to the BCB all periodic information that it receives from banks and other financial system institutions.

At the request of the President of the BCB, the Superintendent shall provide the latter with detailed information on the financial and net worth position of a given financial institution, including any inspection reports that may have been prepared concerning it.

Banks and other institutions providing financial intermediation services shall forward directly to the BCB any monetary information requested by the latter and shall report on their creditor position, as well as any other information directly requested by the President of the BCB on an institution's financial position.

Resolution N°119/2008 y N°22/2009 at the allows to capture information on Foreign Private Capital and international services

Inter-Institutional Agreement of Jul 5, 2010 between the BCB, the Office of the Deputy Minister of Tourism, and the National Statistics Institute to collect information on inward and outward tourism expenditure. The BCB's budget includes an annual appropriation for the agreement

The actual Law 1670/95 does not include any specify regulation establishing that the BCB is responsible for compiling and disseminating balance of payments data. However, the BCB is publicly recognized as the sole institution with these responsibilities‟ and has disseminated balance of payments statistics since 1938.

Processing:

Governors of the BCB resolutions N°119/2008 y N°22/2009 of the Central Bank allow capturing information on Foreign Private Capital and international services.

Supervisory Authority of the Financial System (ASFI): Circular N°1515/2011 and 1856/2011 requires Intermediary Entities and Intermediary Entities in adaptation process to send information of remittances to the BCB.

Release of information:

Law 1670, Article 41: The BCB, as an Institution of the Executive, will periodically, and when requested, inform the President of the country on changes in the monetary, credit, and banking situation of the country, as well as the results of policy initiatives and the positions and recommendations that will be taken in their next policy discussions.

Law 1670, Article 42: Within the first 120 days of each year, the BCB shall submit to the President of the Republic, the pertinent committees of the legislature, and the General Accounting Office of the Republic, the institution's Annual Report for the preceding financial year, which shall include the results of implementing its policies and its financial statements. It shall at the same time publish in a national newspaper a summary of said statements.

Law 1670, Article 43: The BCB shall periodically publish statistical and economic information on the economic and financial variables within its area of competence

The Central Bank‟s shall timely compile and publish the main macroeconomic statistics, including those of a monetary and foreign exchange character, balance of payments.

A catalogue of published information is available on the Bank‟s website, at „Statistics” http://www.bcb.gob.bo/?q=estadisticas/semanales

There are no restrictions on the dissemination of these data. http://www.bcb.gob.bo/index.php?q=indicadores/cotizaciones

0.1.2 Data sharing and coordination among data producing agencies [Data sharing and coordination among data producing agencies are adequate.] The BCB subscribe agreements with INE and other institutions to surveys (Tourism, travel, etc.).

The BCB receives and distributes information to institutions like INE, UDAPE, MEFP

0.1.3 Confidentiality of individual reporters' data [Measures ensuring individual reporters’ data are kept confidential and used for statistical purposes only.] Political Constitution of Bolivia (2009), Article 237, the public employees have treated with strict confidentiality information when finished their functions.

Political Constitution of Bolivia (2009), Article 333, the finance transactions by natural and juridical persons has the right to confidentiality except court proceedings

The Commercial Code, in Article 1307, establishes that “The banking and credit institutions will treat with strict confidentiality information about their operations and information they receive from their clients.” The banks cannot release individual banking information except to holders of the accounts or their legal agents.” Law 1670, Article 80: The management, staff, and employees of the BCB shall treat as confidential the affairs and operations of the BCB, financial institutions and their operations, as well as any documents or reports related to the latter of which they may have knowledge as a result of performing their duties. Any manager, staff member, or employee of the BCB who uses any information which is confidential, the property of the BCB or of the financial intermediation system for his/her own benefit and to the detriment of the nation, the BCB, or third parties shall be held liable therefor. Said obligations and liability shall continue even beyond their resignation or separation from the BCB. Any manager, staff member, or employee who violates this prohibition shall be dismissed from his/her position, without prejudice to any applicable civil or criminal liability. In the event of resignation or separation from the BCB, the penalties provided by law shall be applied. The above provision shall not apply to periodic publications concerning any monetary, exchange, or credit operations of the BCB, which, for general information purposes, are issued by the BCB. Moreover, said provision shall not apply to any administrative information of the BCB nor to any statements requested by competent courts in the course of legal proceedings.

0.1.4 Ensuring statistical reporting [Legal mandates and/or measures to require or encourage statistical reporting.] According to Board Resolution 22/2009 Article 5 "Private entities and individuals, must submit to the Economic Policy Advisory BCB information about assets and foreign liabilities and other variables .... for the previous quarter specifying the type of instrument, until the first half of the next quarter, on the forms provided ... " Political Constitution of Bolivia (2009), Article 298, the state must have to compiling official statics.

0.2 Resources 0.2.1 Staff, facilities, computing resources, and financing [Staff, facilities, computing resources, and financing for statistical programs currently available as well as what would be required for programmed statistical outputs.] The Balance of Payments department has 13 officers, each with the appropriate physical and information infrastructure.

Financing for surveys (Tourism, Travel and CPE)

In 2014 there will be a better system for the collection, processing and analysis of statistical data.

0.2.2 Ensuring efficient use of resources [Measures implemented to ensure efficient use of resources.] The Law on the Charter of the Bank authorizes the central bank to request information from financial intermediaries.

Periodic reviews of staff performance are conducted; Budgeting procedures are used to help allocate resources; Efficiencies are sought through periodic reviews of work processes, e.g., seeking cost effectiveness of survey design in relation to objectives, and encouraging consistent concepts, classification and other methodologies across datasets. The information is discussed at Reserve‟s Committee, Monetary and Exchange Policy‟s Committee.

0.3 Relevance 0.3.1 Monitoring user requirements [How the relevance and practical utility of existing statistics in meeting users’ needs are monitored.] We applied a survey of use the statics, analysis and economic events. http://www.bcb.gob.bo/?q=ENCUESTA%20BCB

Data users are consulted and kept informed on specific aspects of current data. On the BCB website, users of information can direct inquiries and concerns to the area responsible for generating the data. Methodological notes on subjects of common interest are published in the “Definitions for the weekly statistics” (http://www.bcb.gob.bo/?q=publicaciones/educativas&cbo2=-1&cbo3=0) and External Bulletin http://www.bcb.gob.bo/webdocs/publicaciones/externo%20diciembre%202012/externodic12.pdf

The BCB staff participates as lecturers in courses given by recognized national universities and at meetings and seminars organized by national, international and regional organizations. The BCB undertakes studies to help identify new and emerging data requirements.

The BCB conducts meetings with the private sector, and the results of these meetings are published in press releases.

0.4 Quality management 0.4.1 Quality policy [Processes in place to focus on quality.] Management is sensitive to all dimensions of data quality, and promotes a shared concern for quality throughout the organization.

Staff training programs emphasize the importance of quality and give staff an understanding as to how quality may be achieved.

The information on balance of payments can be cross-checked with more detailed data on balance of payments published in the External Sector Bulletin an in the Annual Report.

0.4.2 Quality monitoring [Processes in place to monitor quality during the planning and implementation of the statistical program] Quality is recognized throughout the organization as a cornerstone of statistical work. The BCB has implemented internal programs that seek to improve quality. This goal is explicitly stated in the Guide to Ethical Conduct in which it is established that one of the basic values of the BCB is “Excellence— the search for the highest values in quality, productivity, innovation, and opportunity in the work of its staff.” In the workplace the BCB promotes participation in training courses, finances post-graduate studies at internationally recognized universities, and has designed plans and educational programs to strengthen the human resources. The goals are to increase productivity, improve organizational competitiveness, and promote efficient workplace performance.

Processes are in place for a systematic monitoring and review of quality. Surveys carried out for collection of balance of payments statistics and the programs designed for their compilation address issues on response rate and follow-up measures, as well as editing of the information collected and investigating the reasons for the changes. The staff is also very mindful of the timeliness of information publication.

The compiler of Balance of payments manages a network of specialized information on his/her area of expertise. Periodic reviews have successfully resolved some data inconsistencies.

In planning the statistical program, quality issues are considered. This applies to the selection of the information sources used in compiling the balance of payments.

Priorities in the compilation of the balance of payments statistics include quality, the availability of resources, and timeliness of the data.

1. Integrity 1.1 Professionalism 1.1.1 Impartiality of statistics [Measures to promote impartiality in production of statistics.] The Constitution (Article 327) and the Law of the BCB (Article 1) provide a legal framework that ensures the objective of the BCB.

The functions of directors of the BCB, Article 329 of the Constitution and Article 44 of the Law of the BCB stipulate that the Board of Directors is empowered to establish policies and criteria in carrying out the BCB‟s operations.

Law 1670, Article 76: The BCB's fiscal year shall begin on January 1 and end on December 31 of each year. Financial statements shall conform to the BCB's in-house accounting manual, taking into account generally accepted accounting principles and the accounting rules issued by the ex Superintendence of Banks and Financial Institutions (now The Financial Supervisory Authority).

The staff of the External Department feels that they are free from undue influence or pressures from upper management and other public sector agencies in the conduct of their duties of compiling statistics. The terms and conditions under which the statistics are produced are in accordance with professional independence.

The terms and conditions under which the statistics are produced are in accordance with professional independence. Article 1 of Law 1670states that the BCB is a legal entity, and it will function as a public institution subject to the constitution, with its own legal regimen. The BCB is totally independent in producing and disseminating information on the balance of payments, including official reserve assets and exchange rates.

Professionalism is actively promoted and supported within the organization. The hiring, promotion, and task allocation strictly follow academic credentials, technical criteria, and knowledge and experience in balance of payments and official reserve assets. The selection process is decided on the basis of a point system. The promotion process involves a review by the chief of the External Sector Section, the Director of the Department, and the Head of the Directorate of Economic Studies.

The BCB professional staff is classified according to their academic credentials, professional experience, and knowledge.

1.1.2 Selection of data sources, methodology, and modes of dissemination [Selection of data sources, methodology, and modes of dissemination.] The source data meet the statistical requirements for decision-making purposes and for publication. Data sources, methods, and definitions are based solely upon methodological considerations ensuring their alignment with the MBP5.

1.1.3 Commenting on erroneous interpretation and misuse of statistics [Entitlement to, opportunity for, and historical frequency of, comment on erroneous interpretation and misuse of statistics by the appropriate statistical entity.] The BCB comments on situations in which its statistics are misinterpreted or misused. The Communications Department maintains direct contact with the media through press releases. Regulatory and economic measures taken by the BCB Board of Directors, as well as information published by the BCB, are currently released by the Communications Department. The publication, quarterly, semiannually and annual report of official reserve assets is accompanied by a press release presenting the most important events of the quarter, including those related with balance of payments. This information is readily available on the BCB website.

The BCB has a well-established custom of dealing with data misinterpretations or misuse of statistics and it comments publicly on these issues in official reports. For example, an editorial note in a press release January, 2012 suggested that the flow of errors and omission is like a capital flight. Staff responded in writing to the Portfolio editorial, explaining in detail why this was not true and providing references to source documents that could be consulted on the subject.

http://www.bcb.gob.bo/webdocs/2012/SalaDePrensa/Comunicados/COM1901- LaPrensa2.pdf

Also, the BCB also provides explanatory notes for users to prevent misinterpretations. The official position is also stated in periodic BCB publications, such as the editorial note in the quarterly report of balance of payments, semiannually external bulletin, and annual report.

1.2 Transparency 1.2.1 Disclosure of terms and conditions for statistical collection, processing, and dissemination [Disclosure of terms and conditions for statistical collection, processing, and dissemination.] Political Constitution of Bolivia (2009), Article 298, the government must have to compiling official statistics.

Summaries of selected laws and decrees which states functions of the BCB, are available to the public on the BCB website. In published methodology the BCB emphasizes the principle of confidentiality. Statistical publications, such as the Monthly bulletin, refer clearly to the sources used for their calculation and those responsible for its production. The Act of Board of Directors BCB in 2008 and 2009 (RD.119 and RD.22) established terms and conditions for statistical collection, processing and dissemination foreign private capital.

1.2.2 Internal governmental access to statistics prior to release [Disclosure of Internal governmental access to statistics prior to their release.] No government officials outside the BCB have access to the data before their release to the public

Ministerial commentary is attached to BCB publications. The "Monthly Bulletin" is published with analytical and technical commentaries prepared internally by the BCB. The President of the BCB usually comments on the figures in press conferences or interviews, but these do not necessarily coincide with the dates of publication.

At times, information in the process of being published is released in advance to ministers and other legislative and/or judicial authorities at their express request.

1.2.3 Attribution of statistical products [Identification of statistical agencies/units producing disseminated statistics.] All published external and monetary information bears the BCB logo and captions specifying the source of the data. In addition, the department responsible for compiling the information is cited at the end of each statistical table.

The BCB does not explicitly request acknowledgement of the source when its statistics are reproduced or used by third parties, since it is common practice to identify data sources.

1.2.4 Advance notice of major changes in methodology, source data, and statistical techniques. [Advance notice of major changes in methodology, source data, and statistical techniques.] Methodological changes are announced and explained through footnotes in the "Monthly, Quarterly Balance of Payments Report Semiannually External Bulletin and Annual Report of the BCB". Also these changes are explained in other analytical publications.

In BCB publications, preliminary data are indicated with a "p." When there is no such indication, the data are final. There is no policy on providing advance notice of major changes in methodology.

1.3 Ethical standards 1.3.1 Guidelines for staff behavior [Measures implementing and enforcing guidelines for staff behavior.] The BCB‟s Code of Conduct establisher ethical principles for BCB Staff, including integrity, professional Independence, and confidentiality. The BCB‟s Internal Staff Regulation, establishes staff´s rights and obligations. As part of the public sector, the BCB staff is also subject to Law 2027/99 on Publics Servants, with sets out the legal framework for their rights and responsibilities. Pursuant to art.80 of the Law1670/95, staff off the BCB must sign at the star of each year a confidentiality agreement concerning the activities and operations of the reporting institutions. New staff is made aware of the standards when they join the organization.

2. Methodology 2.1 Concepts and definitions 2.1.1 Concepts and definitions [Degree to which the overall structure of concepts and definitions follows internationally accepted standards, guidelines, or good practices.] The Central Bank of Bolivia (BCB) compiles and disseminates quarterly balance of payments statistics in millions of U.S. dollars. In 1998, Bolivia adopted the guidelines of the fifth edition of the Balance of Payments Manual (BPM5) and has prepared quarterly balance of payments statistics in accordance with that methodology since 1996.

2.2 Scope 2.2.1 Scope 2.2.1.1 Scope of the data [Scope of the data.] The balance of payments data include residents' transactions with the rest of the world. Any individual or legal entity whose center of economic interest is in Bolivia as well as anyone engaging in a taxable business activity for more than one year is considered resident. Free areas in Bolivia are considered resident. Bank branches abroad are considered nonresident. Recently, the financial system responds mandatorily the foreign private capital surveys, which includes a private services format. Supervisory Authority of the Financial System (ASFI) sends information about foreign trade of financial services.

2.2.1.2 Exceptions to coverage [Exceptions to coverage.]

2.2.1.3 Unrecorded activity [Unrecorded activity.]

2.3 Classification/sectorization 2.3.1 Classification/sectorization [Broad consistency of classification/sectorization systems used with internationally accepted standards, guidelines, or good practices.] Balance of payments transactions in the quarterly statistics are generally classified in accordance with the standard components of the BPM5. The current account includes goods, services (transportation, travel, and other services); income (employee and investment); and current transfers. The capital and financial account includes: capital transfers, direct investment, portfolio investment, other investment, divided into long- and short-term capital, errors and omissions, and net reserves.

2.4 Basis for recording 2.4.1 Valuation [Types of prices (market, historical, administrative, basic, purchasers’, producer, etc.) used to value flows and stocks.] Data are compiled and published in U.S. dollars. Transactions denominated in other currencies are converted into U.S. dollars at the exchange rate in effect on the day of the transaction. Exports and imports are recorded at their FOB value, although for purposes of the historical series, imports are shown at their CIF value in some balance of payments tables. Other transactions are recorded at their market value.

2.4.2 Recording basis [Degree to which recording meets requirements for accrual accounting.] The financial accounts are largely on accrual basis, with the exception of the interest debt at the maturity date.

2.4.3 Grossing/netting procedures [Broad consistency of grossing/netting procedures with internationally accepted standards, guidelines, or good practices.] All BOP transactions are gross.

3. Accuracy and reliability 3.1 Source data 3.1.1 Source data collection programs [Comprehensiveness of source data from administrative and survey data collection programs, and appropriateness of the collection modality for country-specific conditions.] The Central Bank of Bolivia compiles and disseminates quarterly balance of payments statistics in millions of U.S. dollars.

Goods: Import data are based on foreign trade statistics compiled by the National Statistics Institute (INE), which are in turn based on National Customs data.

Services: Data on services are obtained from surveys of domestic and international airlines, the National Telecommunications Enterprise (ENTEL) and other communications companies, as well as from bank financial reports and information submitted by the Pensions and Insurance Authority (APS). Information on freight, insurance, and other import expenses are obtained from INE. Travel statistics are based on a survey carried out under a joint agreement signed by the BCB, INE and the Office of the Deputy Minister of Tourism, and the number of travelers provided by the INE and the National Migration Service. Foreign Private Capital Survey (quarterly) also collects data on all services relevant on the reporting entity.

Income: Data on investment income are obtained from the Quasi-Fiscal Revenue table (interest received by the BCB), the External Debt Information Management and Administration System (SIGADE), and the financial statements of private banks. Data on compensation of employees are estimated based on the number of temporary workers coming in and going out provided by the National Directorate of Migrations and the Directorate of Employment and Wages of the Ministry of Labor.

Current Transfers: Information on official transfers is obtained from the Office of the Deputy Minister of Public Investment and External Financing (VIPFE), which collects this information from donors. The information on private transfers is obtained from the financial intermediaries and from courier enterprises (which also provide remittance services), which report transfers by private individuals (money orders) in amounts below US$2,500 to the BCB. Information on foreign grants to the private sector is obtained from international agencies and embassies and consulates.

Capital Transfers: The sources are the VIPFE and the BCB balance sheet. This item records cash grants to the external debt relief fund.

Direct Investment: From 1998 to 2005, the data were taken from the foreign direct investment survey conducted jointly by the INE, the Office of the Deputy Minister of Investment and Privatization (VIP), and the Bolivian Confederation of Private Entrepreneurs (CEPB). From 2006 on, the data are taken from the foreign private capital survey conducted by the BCB.

Portfolio Investment: This item records the investments of Bolivian enterprises, intradeable securities, as well as foreign investments in domestic tradeable securities.. Included since 1999 are transactions of the Liquid Assets Demand Fund (RAL), a trust fund that must be invest in securities and money market instruments. All other data are obtained from the foreign private capital survey.

Other Investment: This item, called "Other capital" in Bolivian statistics covers all remaining debt, i.e. excluding portfolio and direct investment debt; it includes public external loans, which are obtained from the BCB's External Debt Management and Administration System (SIGADE). The private external debt of banks is obtained from the foreign assets and liabilities of the banking sector. This item also includes contributions and amounts owed to international agencies, the foreign assets and liabilities of mutual savings associations (nonbank financial institutions), and other private capital estimates. All other data are obtained from the foreign private capital survey.

Reserve Assets: The source is the BCB monetary balance sheet, which contains a breakdown of the bank's foreign assets and liabilities.

3.1.2 Source data definitions, scope, sectorization, classifications, valuation, and time of recording [Degree to which source data approximate definitions, scope, sectorization, classifications, valuation, and time of recording required (as described in 2.1.1-2.4.3).] Source data are generally consistent with the definition, scope, classification, and time of recording adopted by the BCB (see 2.2.1 for Scope, 2.3.1 for Classification, and 2.4.2 for Time of Recording). Survey data are supplemented by ITRS data. Administrative records that are used to compile balance of payments statistics provide reasonable approximations of methodological requirements and are reviewed for forms design.

Information on deviations of the source data from balance of payments requirements is sufficiently detailed to ensure the appropriate adjustment. For international trade in goods, codes in the administrative data identify goods crossing the border but not changing ownership (and are therefore not included in the balance of payments) and goods not crossing the border (that need to be included in the balance of payments).

Information on external debt obtained from the debt compiling agency is generally in line with the recommendation of BPM5.

3.1.3 Source data timeliness [Source data timeliness relative to what is required for producing statistical outputs whose timeliness meets applicable data standard (SDDS requirements or GDDS recommendations).]

Data collection and processing timetables are adequate to meet timeliness and periodicity requirements for disseminating the balance of payments statistics. For example, data on exports and imports in goods are received from the INE in a timely manner (eight weeks before the quarterly release).

For surveys, respondents are made aware of the reporting deadlines. The BCB will publish third-quarter data 12 weeks after the end of the reference period. The BCB rigorously follows up with late reporters to ensure the timely receipt of respondents‟ data.

Foreign Private Capital survey data are received 15 days after the end of the quarter. Other source data are generally obtained on a timely basis.

3.2 Assessment of source data 3.2.1 Source data assessment [Routine assessment of source data—including censuses, sample surveys, and administrative records (e.g., for coverage, sample error, response error, and nonsampling error); whether assessment results are monitored; how results are used to guide statistical processes.] All soured data are routinely checked.

3.3 Statistical techniques 3.3.1 Source data statistical techniques [Statistical techniques in data compilation to deal with data sources (e.g., to align them with target concepts from 2.1.1).] Goods:

The INE's import figures are adjusted for the following: rented aircraft, which are reclassified as operational leasing; amounts spent on legalizing vehicles smuggled into the country under prior administrations; and temporary imports.

Exports are valued FOB, which is obtained from the CIF value less freight, insurance, and other costs, plus the amount of repairs on goods.

Exports and imports are compiled with the following breakdown: general merchandise, goods for processing, repairs on goods, goods procured in ports by carriers.

Services:

Transport statistics are based on forms sent to domestic and international airlines and domestic railway companies, and on the international ground transport survey carried out by the National Statistics Institute. Travel statistics are based on a survey carried out under a joint agreement signed by the BCB, INE and the Office of the Deputy Minister of Tourism, and the number of travelers is provided by the INE and the National Migration Service. Government services are estimated, on the debit side, based on the foreign exchange allotted by the BCB for the expenditure of Bolivian embassies and consulates abroad; on the credit side, estimates are made based on the number of foreign embassies and consulates in Bolivia and the number of their employees and their average expenses in Bolivia.

Income:

Compensation of employees is calculated using the number of temporary workers provided by the Directorate of Migrations and the Directorate of Employment and Wages, and an average wage estimate for the number of immigrants and emigrants.

SIGADE records are used to calculate the interest on public external debt, and data from the Bank for International Settlements (BIS) are used to estimate the interest on nonbank private sector deposits abroad.

To calculate dividends paid, data from the foreign direct investment (FDI) survey are used.

Other investment:

Since 1999, the flow of deposits of nonbank private residents abroad has been included, which information is obtained from the BIS.

Reserve assets:

Reserve Assets are compiled according to the BPM5 directions, specifically in the form of gross reserves. In some presentations the balance of payments shows changes in the net international reserves of the BCB, which are obtained by subtracting short-term obligations to nonresidents from gross reserves. The flows are calculated as the difference between the ending and beginning stock, in which operations with the IMF are expressed at the fixed SDR exchange rate and a fixed gold price. Reserve data are calculated in terms of U.S. dollars.

3.3.2 Other statistical procedures [Statistical techniques employed in other statistical procedures (e.g., data adjustments and transformations, and statistical analysis).] In general, sound adjustments are employed to make source data consistent with balance of payments requirements. The information on freight and insurance, available on the import declaration forms, allows imports to be reported f.o.b. This is a sound practice and eliminates the need for an estimated percentage adjustment that is common in many countries. Each quarter, data on freight income are regularly assessed in relation to the value/volume of trade flows.

Estimates from several sources are used to verify and adjust travel data. Data are obtained from surveys of travelers at airports and at land-border crossings, from the Aero Civil for the number of passengers, from credit card information for both debits and credits, and from hotels and tour operators for supplementary information. (ITRS is not used as a source for travel data.)

3.4 Data validation 3.4.1 Validation of intermediate results [Assessment and investigation of statistical discrepancies in intermediate data.] Intermediate results are checked across a wide range of data sources.

3.4.2 Assessment of intermediate data [Assessment and investigation of statistical discrepancies in intermediate data.] Internal reviews (evaluations, incorporating new information) are performed each quarter.

3.4.3 Assessment of discrepancies and other problems in statistical outputs [Investigation of statistical discrepancies and other potential indicators of problems in statistical outputs.] Staff monitors developments in errors and omissions to understand them—for example in relation to changes in the exchange rate. Bilateral data comparisons are carried out for trade in goods, external debt, and FDI, to validate specific datasets. We participate in ECID survey

3.5 Revision studies 3.5.1 Revision studies and analyses [Periodicity with which studies and analyses of revisions and/or updates are carried out; whether and how they are used internally to inform statistical processes (see also 4.3.3).] Revisions to the balance of payments are periodically assessed. Analyses of revisions include the size of revisions, the impact on the current account, the financial account, and errors and omissions. The BCB staff also analyze the reasons for modification to improve the compilation process. Studies are conducted in terms of the reason for the revision, and adequate documentation is maintained on large revisions. However, analysis is not formally carried out on direction and magnitude of revisions, as well as long-term revision patterns.

4. Serviceability 4.1 Periodicity and timeliness 4.1.1 Periodicity [Periodicity of statistical outputs relative to applicable dissemination standard (SDDS requirement or GDDS recommendation).] Information disseminated quarterly on the web site. Data are compiled and disseminated quarterly.

4.1.2 Timeliness [Timeliness of statistical outputs relative to applicable dissemination standard (SDDS requirement or GDDS recommendation).] 45 days after the reference period.

4.2 Consistency 4.2.1 Internal consistency [Consistency of statistics within the dataset.] The Quarterly Balance of Payments Report and External Sector Bulletin and the Statistical Bulletin (quarterly) contain tables for the balance of payments components, which can be used to cross-check data on: imports and exports of goods, imports and exports of services, rent payments made and received, current transfers, capital transfers, foreign direct investment, portfolio investment, other medium- and long-term capital (Loans obtained by the Monetary Authority, General Government, Banks and Other Sectors) and other short-term capital (other short-term foreign assets and liabilities).

Internal consistency checks are performed on a routinely basis.

4.2.2 Temporal consistency [Consistency or reconcilability of statistics over a reasonable period of time.] Temporal consistency is tested with annual and quarterly data.

4.2.3 Intersectoral and cross-domain consistency [Consistency or reconcilability of statistics with those obtained through other data sources and/or statistical frameworks.] The BoP statistics are consistent with other data sets (national accounts, merchandise trade, external debt, International reserves, financial statistics and private capital survey).

4.3 Revision 4.3.1 Revision and/or update schedule [Transparency and regularity of revision/update schedule.] Each quarter the information of previous quarter is reviewed.

4.3.2 Identification of preliminary and/or revised/updated data [Identification of preliminary and/or revised/updated data.] At the time of data dissemination, users are clearly informed whenever data are preliminary or revised.

4.3.3 Dissemination of revision studies and analyses [Dissemination of revision studies and analyses (see also 3.5.1).] Only internal studies

5. Accessibility 5.1 Data 5.1.1 Statistical presentation [Statistics are presented in a way that facilitates proper interpretation and meaningful comparisons (layout and clarity of text, tables, and charts).] The BCB produces and disseminates data on the main components of the balance of payments in accordance with the recommendations of the fifth edition of IMF "Balance of Payments Manual" ("BPM5"). The quarterly data are presented in a more summarized form (currently not disseminated).

Resulting statistics is presented in a way to facilitate proper interpretation in text, tables, and charts.

5.1.2 Dissemination media and format 5.1.2.1 Hard copy - New release [Hard copy - New release.]

5.1.2.2 Hard copy - Weekly bulletin [Hard copy - Weekly bulletin.]

5.1.2.3 Hard copy - Monthly Bulletin [Hard copy - Monthly Bulletin.]

5.1.2.4 Hard copy - Quarterly bulletin [Hard copy - Quarterly bulletin.] Balance of Payments and International Investment Position Report http://www.bcb.gob.bo/?q=publicaciones/balanza_pagos&cbo2=-1&cbo3=0

5.1.2.5 Hard copy - Other [Hard copy - Other.] External Sector Bulletin (Semi-annual) http://www.bcb.gob.bo/?q=publicaciones/boletin_estadistico&cbo2=-1&cbo3=0

5.1.2.6 Electronic - On-line bulletin or data [Electronic - On-line bulletin or data.] External Sector Bulletin (Semi-annual). http://www.bcb.gob.bo/?q=publicaciones/boletin_estadistico&cbo2=-1&cbo3=0

5.1.2.7 Electronic - Other [Electronic - Other.]

5.1.3 Advance release calendar [Pre-announcement of the release schedule for statistics.]

5.1.3.1 ARC Note [ARC Note.]

5.1.4 Simultaneous release [Degree to which statistics are made available to all users at the same time, and modalities used to achieve this.] Data are simultaneously available for all users.

5.1.5 Dissemination on request [Dissemination on request of unpublished but non-confidential statistics.] Information is provided upon request.

5.2 Metadata 5.2.1 Dissemination of documentation on concepts, scope, classifications, basis of recording, data sources, and statistical techniques [Dissemination of documentation on concepts, scope, classifications, basis of recording, data sources, and statistical techniques, including annotation of differences from internationally accepted standards, guidelines.] Methodological notes are disseminated. Individual tables on the standard components include explanatory notes indicating the data sources and coverage and whether the data are provisional or final. Bolivia metadata are available in:

http://www.bcb.gob.bo/index.php?q=servicios/metadatos/sector_externo

http://dsbb.imf.org/Pages/GDDS/DQAFViewPage.aspx?ctycode=BOL&catcode=BPS00&Type=CF

5.2.2 Disseminated level of detail [Customization of detail and format of tables for the target groups of users.] The Balance of payments statistics presentation follows the format that is prescribed by SDDS.

5.3 Assistance to users 5.3.1 Dissemination of information on contact points [Dissemination of information on contact points for each subject field.] Prompt and knowledgeable service and support are available to users of the balance of payments statistics. Contact points for enquiries are available on the metadata section on the BCB website, including e-mail addresses of the staff in charge. Access points for clients on the website are well advertised.

5.3.2 Availability of documents and services catalogs [Dissemination of catalogs of publications, documents, and other services, including information on any charges.] Through the BCB website There is also a calendar of internal publications

Contact Person(s): [Please provide information below as relevant]

Contact 1 Applies To: Base page Summary Page Dissemination Page Prefix/First Name/Last Name: Mrs. Tatiana Quiroga Title: Subgerente del Sector Externo Division: Asesoría de Política Económica Department: Subgerencia del Sector Externo Agency: Banco Central de Bolivia Address1: Ayacucho esquina Mercado Address2: City/State: La Paz Postal Code: Phone: Country Code/ Number 5912 2662230 Fax: Country Code/ Number 5912 2408450 Email: [email protected] Contact 2 Applies To: Base page Summary Page Dissemination Page Prefix/First Name/Last Name: Ms. Denise Salazar Title: Jefe del Departamento Sector Externo y Balanza de Pagos Division: Asesoría de Política Económica Department: Subgerencia del Sector Externo Agency: Banco Central de Bolivia Address1: Ayacucho esquina Mercado Address2: City/State: Postal Code: Phone: Country Code/ Number 5912 2662224 Fax: Country Code/ Number Email: [email protected] Contact 3 Applies To: Base page Summary Page Dissemination Page Prefix/First Name/Last Name: Mr. Wilder Serdán Title: Analista Senior en Sector Externo Division: Asesoría de Política Económica Department: Departamento de Balanza de Pagos Agency: Banco Central de Bolivia Address1: Ayacucho esquina Mercado Address2: City/State: Postal Code: Phone: Country Code/ Number 0591 2662226 Fax: Country Code/ Number Email: [email protected] Go to Top

Table Of Contents

Bolivia (BOX) ...... 1 H.Header data ...... 1 H.0.7 Data category notes...... 1 0. Prerequisites ...... 1 0.1 Legal environment ...... 1 0.1.1 Responsibility for collecting, processing, and disseminating statistics ...... 1 0.1.2 Data sharing and coordination among data producing agencies ...... 3 0.1.3 Confidentiality of individual reporters' data ...... 3 0.1.4 Ensuring statistical reporting ...... 3 0.2 Resources ...... 3 0.2.1 Staff, facilities, computing resources, and financing ...... 3 0.2.2 Ensuring efficient use of resources ...... 4 0.3 Relevance ...... 4 0.3.1 Monitoring user requirements...... 4 0.4 Quality management ...... 4 0.4.1 Quality policy ...... 4 0.4.2 Quality monitoring ...... 5 1. Integrity ...... 5 1.1 Professionalism ...... 5 1.1.1 Impartiality of statistics ...... 5 1.1.2 Selection of data sources, methodology, and modes of dissemination ...... 6 1.1.3 Commenting on erroneous interpretation and misuse of statistics...... 6 1.2 Transparency ...... 6 1.2.1 Disclosure of terms and conditions for statistical collection, processing, and dissemination ...... 6 1.2.2 Internal governmental access to statistics prior to release ...... 7 1.2.3 Attribution of statistical products ...... 7 1.2.4 Advance notice of major changes in methodology, source data, and statistical techniques...... 7 1.3 Ethical standards ...... 7 1.3.1 Guidelines for staff behavior ...... 7 2. Methodology ...... 8 2.1 Concepts and definitions ...... 8 2.1.1 Concepts and definitions ...... 8 2.2 Scope ...... 8 2.2.1 Scope ...... 8 2.2.1.1 Scope of the data ...... 8 2.2.1.2 Exceptions to coverage ...... 8 2.2.1.3 Unrecorded activity ...... 8 2.3 Classification/sectorization ...... 9 2.3.1 Classification/sectorization ...... 9 2.4 Basis for recording ...... 9 2.4.1 Valuation ...... 9 2.4.2 Recording basis ...... 9 2.4.3 Grossing/netting procedures ...... 9 3. Accuracy and reliability ...... 9 3.1 Source data ...... 9 3.1.1 Source data collection programs ...... 9 3.1.2 Source data definitions, scope, sectorization, classifications, valuation, and time of recording...10 3.1.3 Source data timeliness ...... 11 3.2 Assessment of source data ...... 11 3.2.1 Source data assessment ...... 11 3.3 Statistical techniques ...... 11 3.3.1 Source data statistical techniques ...... 11 3.3.2 Other statistical procedures...... 12 3.4 Data validation ...... 13 3.4.1 Validation of intermediate results ...... 13 3.4.2 Assessment of intermediate data ...... 13 3.4.3 Assessment of discrepancies and other problems in statistical outputs ...... 13 3.5 Revision studies ...... 13 3.5.1 Revision studies and analyses ...... 13 4. Serviceability ...... 14 4.1 Periodicity and timeliness ...... 14 4.1.1 Periodicity...... 14 4.1.2 Timeliness...... 14 4.2 Consistency...... 14 4.2.1 Internal consistency ...... 14 4.2.2 Temporal consistency ...... 14 4.2.3 Intersectoral and cross-domain consistency ...... 15 4.3 Revision ...... 15 4.3.1 Revision and/or update schedule ...... 15 4.3.2 Identification of preliminary and/or revised/updated data ...... 15 4.3.3 Dissemination of revision studies and analyses ...... 15 5. Accessibility ...... 15 5.1 Data ...... 15 5.1.1 Statistical presentation ...... 15 5.1.2 Dissemination media and format ...... 16 5.1.2.1 Hard copy - New release ...... 16 5.1.2.2 Hard copy - Weekly bulletin ...... 16 5.1.2.3 Hard copy - Monthly Bulletin ...... 16 5.1.2.4 Hard copy - Quarterly bulletin ...... 16 5.1.2.5 Hard copy - Other ...... 16 5.1.2.6 Electronic - On-line bulletin or data ...... 17 5.1.2.7 Electronic - Other ...... 17 5.1.3 Advance release calendar ...... 17 5.1.3.1 ARC Note ...... 17 5.1.4 Simultaneous release ...... 17 5.1.5 Dissemination on request ...... 18 5.2 Metadata ...... 18 5.2.1 Dissemination of documentation on concepts, scope, classifications, basis of recording, data sources, and statistical techniques ...... 18 5.2.2 Disseminated level of detail...... 18 5.3 Assistance to users ...... 18 5.3.1 Dissemination of information on contact points ...... 18 5.3.2 Availability of documents and services catalogs ...... 19 Contact Person(s): ...... 19