90254 8th ICP 2011 Executive Board Meeting February 24, 2013 New York, NY Minutes of Meeting The 8th meeting of the ICP 2011 Executive Board took place on February 24, 2013, at the Millennium Hotel in New York, to review the status of the 2011 Round at global and regional levels. As per the agenda shown in Annex 1, meeting discussions related to: (i) 2011 ICP progress report; (ii) high-level ICP missions; (iii) enhancing the comparability of the ICP 2005 and 2011 Results; and (iv) expected outcomes from the ICP session at the UNSC. In attendance were Board members, observers, and ICP Global Office staff as listed in the attached list of participants in Annex 2. 0 Opening Remarks, Adoption of the Agenda, and Approval of the Minutes of Last Meeting Enrico Giovannini, Chair of the Executive Board, and Shaida Badiee, Director, World Bank Development Data Group, welcomed the Board members and observers to the meeting. The Chair invited members to adopt the agenda and the minutes from the seventh meeting of the Executive Board held on November 13, 2012 in Washington DC. Both documents were adopted by the Board. 1 2011 ICP Progress Report Michel Mouyelo-Katoula, ICP Global Manager, provided a brief status report on the implementation of the 2011 round of the ICP. The presentation covered the following aspects: implementation of Board decisions; data and metadata submission status; regional status and activities; risk assessment; capacity-building and outreach material; and upcoming governance meetings and milestones. Notes that were prepared as outcomes from the decisions made at the 7th meeting were circulated for review aside from those which must be reviewed by the Technical Advisory Group and Regional Coordinators at their meetings in May 2013. Draft background papers and notes were prepared and will be circulated once approved by the Technical Advisory Group and Regional Coordinators. Circulated files to the Executive Board are available on the ICP website under the 8th Executive Board meeting page. The Board: a. Reviewed the deadlines and stressed the critical need for timeliness to prevent slippage in the 2011 ICP. b. Stressed the need for complete transparency in the status of the program. c. Discussed the timeline and made updates to better allow for data submissions and governance meetings to coincide. d. Requested that the Global Office sends the Board a bi-monthly status update to keep the Board informed of the progress of activities and meeting critical milestones. e. Noted the need for the Board to review the preliminary results for Household Consumption and GDP ahead of the release date of December 2013. f. Requested that findings from the testing of the impact of different methods and weights for importance indicators on the ICP 2011 results be circulated to the Board along with the bi- monthly report in June 2013, after the Technical Advisory Group had discussed it in their May 2013 meeting. g. Noted the need for a general ICP revision policy, and requested it to be circulated to the Board once advice from the Technical Advisory Group had been sought. h. Stressed the need to better appeal to policy-makers, and noted that the draft ICP communication strategy should be circulated to the Board along with the bi-monthly progress report in June 2013. These comments and decisions were reflected in the agreed timetable below. Major Milestones and Governance Meetings for 2013 February 8th Regional Coordinators’ meeting and 8th Executive Board meeting March Submission of semi-final price data for all regions (Household Consumption and Special Surveys) Submission of preliminary 2011/ revised 2005 National Accounts data April Short report to the Executive Board (update on data submission, progress in Africa, and 2005 National Accounts data) May 8th Technical Advisory Group and 9th Regional Coordinators meetings June Short report the Executive Board (update on Technical Advisory Group findings, importance testing, and communication strategy) Submission of final data and metadata for all regions (Household Consumption, Special Surveys and National Accounts) August 9th Technical Advisory Group and 10th Regional Coordinators’ meetings Short report to the Executive Board Preliminary results for Household Consumption confidentially circulated to the Executive Board September 9th Executive Board meeting October Potential revision of final 2011 data and metadata, in response to comments by the Technical Advisory Group and Regional Coordinators 2 November Report to the 45th session of the United Nations Statistical Commission circulated to the Executive Board Preliminary results for GDP confidentially circulated to the Executive Board 10th Executive Board meeting (if needed) December Release of 2011 Global PPPs and results Decision 1. The Executive Board decided that: (i) A short report should be submitted to the Board on a bi-monthly basis. (ii) The preliminary results for Household Consumption and GDP should be circulated to the Board ahead of the release date of December 2013. 2 High-Level ICP Missions Michel briefed the Board on the note on High-Level ICP Missions with specific attention to trigger; objectives; and mission organization. Enrico invited Board members to comment on the note prepared on high-level missions. The Board approved an approach where, should perceived inconsistencies in data remain unresolved at the conclusion of the mission, the Global Office would document these inconsistencies in the final 2011 ICP report. The Board recognized that this was a sensitive issue and agreed it was better to solve these problems up front, rather than rely on documenting inconsistencies at the conclusion of the round. As such, the Board instructed the Global Office to allow countries to review the documentation language should these circumstances arise. Decision 2. The Executive Board decided that: (i) The reports from the high-level missions should be circulated to the Board on a confidential basis. (ii) To maintain the timeline, all high-level missions should take place before the end of July 2013. (iii)Should perceived inconsistencies in data remain unresolved at the conclusion of the mission, the Global Office would document these inconsistencies in the final 2011 ICP report. The Global Office would allow countries to review the documentation language should these circumstances arise. 3 Enhancing the Comparability of the ICP 2005 and 2011 Results Michel briefed the Board on the note on Enhancing the Comparability of the ICP 2005 and 2011 Results. The discussion focused on: changes to 2005 input data; changes to methodologies; revision principles; and proposed revision steps. The proposed approach would rely solely with 3 the Global office and would not require additional efforts on the part of the Regional Coordinators or countries. The Board: a. Reiterated that a revision policy is necessary for future revisions, which should not rely on having the same governance bodies in place. b. Noted that updated 2005 National data should come from countries or be reviewed and cleared by the countries themselves. Decision 3. The Executive Board made the following decisions: (i) In conjunction with the 2011 ICP results, the global publication will contain revised 2005 real expenditures based on each country’s 2005 revised GDP expenditures. (ii) Analytical estimates and analysis will be published that provide the best assessment of the effects of major methodological changes between the 2005 and 2011 ICP rounds. 4 Expected Outcomes from the ICP Session at the UNSC Shaida explained how the Friends of the Chair (FOC) worked in the ICP 2005 round and invited the Board to discuss the expected outcomes from the ICP session at the UNSC. The Board agreed that it is not yet necessary to establish the FOC at the current stage and that another modality such as an inter-agency expert committee may better suit the 2011 ICP. Decision 4. Looking beyond this round, the Executive Board agreed to propose a practical approach for the evaluation of the 2011 Round, with the goal of building on the capacity and the momentum gained during the last two rounds of the ICP, for consideration at the 45th Session of the United Nations Statistical Commission in 2014. 5 Other business and concluding remarks On IMF’s use of the Eurostat-OECD PPPs for its World Economic Outlook, Enrico stated that the Board may need to write to the head of the World Economic Outlook about incorporating the latest PPP data available from Eurostat-OECD. Enrico summarized the decisions made during the meeting and he and Shaida provided closing remarks. 4 Annex 1. Agenda 8TH ICP 2011 Executive Board Meeting Agenda Millenium Hotel, New York 1 United Nations Plaza # B, New York, NY 10017-3515 February 24, 2013 08:30-09:00 Check-in & Breakfast 09:00-09:10 Welcome and Opening Remarks 09:10-09:25 Adoption of the Agenda and Approval of the Minutes of Last Meeting The Board is invited to adopt the agenda and approve the minutes of the 7th Executive Board meeting, held in Washington DC on November 13, 2012. 09:25-10:15 2011 ICP Progress Report The Board will be briefed on the progress in the implementation of the 2011 ICP, status of data and metadata submission, preliminary assessment of the quality of data and metadata, risk assessment, and the steps ahead. 10:15-10:45 High-Level ICP Missions The Board is invited to comment on the note on high-level ICP missions. 10:45-11:30 Enhancing the Comparability of the ICP 2005 and 2011 Results The Board is invited to comment on the note on enhancing the comparability of the ICP 2005 and 2011 Results. 11:30-11:45 Expected Outcomes from the ICP session at the UNSC The Board is invited to discuss the expected outcomes from the ICP session at the UNSC. 11:45-12:00 Other Business and Concluding Remarks 5 Annex 2. List of Participants # Participant Organization Status 1 Charles Leyeka Lufumpa African Development Bank Member 2 Oliver Chinganya African Development Bank Observer 3 Babakar Fall ANSD, Senegal Member Asian Development Bank 4 Chellam Palanyandy Representing ADB (ADB) Australian Bureau of 5 Ian Ewing Representing ABS Statistics (ABS) Representing CIS- 6 Andrey Kosarev CIS-STAT STAT 7 Larus Norlund Eurostat Member 8 Paulus Konijn Eurostat Observer 9 Marcia Quintslr IBGE, Brazil Representing IBGE 10 Nuno Bittencourt IBGE, Brazil Representing IBGE 11 Kimberly Dale Zieschang IMF Member 12 Arturo Blancas Espejo INEGI, Mexico Representing INEGI 13 Enrico Giovannini ISTAT, Italy Chair 14 T.C.A. Anant MOSPI, India Member National Bureau of Statistics 15 Shi Ting Representing NBS (NBS), China National Bureau of Statistics 16 Zhao Yuncheng Representing NBS (NBS), China 17 Martine Durand OECD Member 18 Francette Koechlin OECD Observer 19 Sergey Egorenko Rosstat, Russia Representing Rosstat 20 Vasily Kuznetsov Rosstat, Russia Representing Rosstat Representing 21 Eric Rancourt Statistics Canada Statistics Canada 22 Olav Ljones Statistics Norway Member 23 Live Rognerud Statistics Norway Observer 24 Pali Lehohla Statistics South Africa Member 25 Ben Paul Mungyereza Uganda Bureau of Statistics Member Representing UN- 26 Giovanni Savio UN-ECLAC ECLAC 27 Juraj Riecan UN-ESCWA Member 28 Majed Skaini UN-ESCWA Observer 29 Ivo Havinga UNSD Representing UNSD 30 Youlia Antonova UNSD Observer 31 Jim Thomas US BLS Observer 6 # Participant Organization Status 32 Katherine Wallman US OMB Member 33 Shaida Badiee World Bank Member 34 Grant Cameron World Bank Observer 35 Michel Mouyelo-Katoula World Bank Observer 36 Nada Hamadeh World Bank Observer 37 David Roberts World Bank Consultant Observer 38 Morgan Brannon World Bank Observer 39 Christelle Kouame World Bank Observer 7