Failing this, the IMF's 'International Financial Statistics' publication has been used as the source. The European Commission is used as the source for exchange rates against the EURO, where available. Concerning gross foreign debt, the OECD External Debt Statistics publication has been used as the source for 1994-6. According to the convention, the stock of outstanding debt is converted from US dollars into EURO at end-year exchange rates, whereas GDP is converted into EURO using annual average exchange rates. Methodology Reserve assets are end-year stock data.
Gold is valued at end-year market price.
GFS data are on a cash basis. Monetary aggregates are end-year stock data. M1 generally means notes and coin in circulation plus bank sight deposits. M2 generally means M1 plus savings deposits plus other short-term claims on banks. It should be noted that the problem of measuring the circulation of foreign currency in some Candidate Countries may affect the reliability of the data.