This action plan was welcomed recently also by the International Monetary and Financial Committee of the IMF Board of Governors. Although the need for more comprehensive and more comparable statistics extends beyond the G20 economies, the G20 have volunteered to set an example.
Because of the economic importance of the G20 economies, their data are sufficient to compile reliable and timely key world aggregates, such as quarterly GDP, within two months of the end of the reference quarter. Experience in the euro area confirms the traditional statistical paradigm that more aggregated data, such as euro area or world aggregates, are more reliable than their component data.