Preface
Th e Government Finance Statistics Manual 2014 (GFSM 2014) is part of a series of international guidelines on statisti-
cal methodologies that have been issued by the International Monetary Fund. Th e Manual updates the Government
Finance Statistics Manual 2001, and is the third edition of guidelines that describe a specialized macroeconomic statis-
tical framework, the government fi nance statistics (GFS) framework, designed to support fi scal analysis. Th e Manual
was produced by the IMF’s Statistics Department in fulfi llment of its mission to provide strong leadership for the
development and application of sound statistical practices, and is published in service of the worldwide trend toward
greater accountability and fi scal transparency.
Th e Manual is designed for use by compilers of GFS, fi scal analysts, and other users of fi scal data. It may also be
informative to compilers and users of other macroeconomic statistics in understanding the relations between the vari-
ous sets of macroeconomic statistics, in particular, to compilers of the national accounts who may depend on GFS as
an input to their work. Th e guidelines also explain the relationship of GFS with internationally accepted accounting
standards and may therefore be useful for those involved in reforming government accounting systems. Th e Manual
is focused, however, on conceptual descriptions of defi nitions, classifi cations, and conceptual guidelines for compiling
and disseminating GFS, and, as such, it does not describe the methods to be used to compile the statistics.
Th e GFSM 2014 is supplemented by practical guidance on the compilation of the statistics provided in Government
Finance Statistics: Compilation Guide for Developing Countries 2011 and Quarterly Government Finance Statistics: Guide
for Compilers and Users, as well as through technical assistance and training work with individual countries. However,
the text of these practical guidelines is not intended to take precedence over the methodological guidance provided
in the Manual. In addition to this English language version, the Manual will be published in Arabic, Chinese, French,
Russian, and Spanish.
Fiscal analysis continues to evolve in response to the growing complexity of formulating and evaluating fi scal policies.
In particular, globalization increases demands for internationally comparable data, while concerns about the sustain-
ability of fi scal policies increase demands for information on the balance sheets of government and the broader public
sector. Moreover, because of the demand for cross-sectoral consistency in macroeconomic data, the concepts and prin-
ciples set out in the Manual are harmonized with those of the System of National Accounts 2008 (2008 SNA) and the
sixth edition of the Balance of Payments and International Investment Position Manual (BPM6). For consistent guidance
on debt-related issues, the GFSM 2014 is also supplemented with the Public Sector Debt Statistics: A Guide for Compilers
and Users (PSDS Guide) and the External Debt Statistics: Guide for Compilers and Users 2013 (2013 EDS Guide).
Th e GFSM 2014 recommends disseminating fully integrated fl ows and stock positions, recorded on an accrual basis,
while maintaining cash-fl ow data to allow an assessment of the liquidity constraints of government. It is recognized
that the implementation of the fully integrated system described in the Manual will take some time and will need to
progress at a pace determined by the diff ering needs and circumstances of the country involved. In particular, many
countries will need to revise their underlying accounting systems to refl ect the accrual basis of recording and revised
classifi cations.
Acknowledgments
Th e preparation of GFSM 2014 was a complex endeavor involving a number of people with diff erent skills who were
able to build on each other’s work over an extended period. Th e Manual was produced under the direction of two direc-
tors of the Statistics Department: Ms. Adelheid Burgi-Schmelz (2009–2012) and Mr. Louis Marc Ducharme (2013–).