Foreword
Th e international fi nancial crisis in recent years, and the associated large fi scal defi cits and rising debt levels in many
countries, underscored the importance of reliable and timely statistics on the general government and public sectors.
Th ese events have shown the importance of internationally comparable data that allow detecting sources of vulner-
ability early and taking timely corrective measures.
One focus of the IMF’s work is on increasing the availability of key economic indicators. Th e IMF undertakes a range
of activities for this purpose, including the IMF Statistics Department’s work to prepare manuals describing method-
ologies that should be used to compile economic and fi nancial statistics. In this regard, I am pleased to introduce the
third edition of the Government Finance Statistics Manual. Th is manual takes its place alongside the other manuals pre-
pared by the Statistics Department, including the Balance of Payments and International Investment Position Manual,
the Monetary and Financial Statistics Manual, Public Sector Debt Statistics: Guide for Compilers and Users, and the
Quarterly National Accounts Manual. Like the other manuals, this manual is harmonized with the System of National
Accounts 2008.
Th is manual represents a major step forward in clarifying the standards for compiling and presenting fi scal statistics
and strengthens the worldwide eff ort to improve public sector reporting and transparency. Government fi nance sta-
tistics are a basis for fi scal analysis, and they play a vital role in developing and monitoring sound fi scal programs and
in conducting surveillance of economic policies. Th e Executive Board of the IMF approved the use of the government
fi nance statistics framework as the standard for presenting the Fund’s fi scal data. I therefore urge member countries to
adopt the guidelines of the manual as the basis for compiling and disseminating government fi nance statistics, and for
reporting this information to the Fund.
Th is manual has been prepared by the Statistics Department in close consultation with the Government Finance Sta-
tistics Advisory Committee, established to provide expert opinions from a broad range of countries and international
organizations. Th e changes to the manual and revised text were posted on the website of the IMF for worldwide com-
ments from compilers and users. Th e process underlying the revision of the manual demonstrates the spirit of inter-
national collaboration and cooperation. I would like to thank all of the experts involved for their invaluable assistance
and for their collaborative and cooperative spirit.
Christine Lagarde
Managing Director
International Monetary Fund