The IMF Data Standards Initiatives enhance data transparency as a global public good. The Tenth Review updates the framework, in light of new data priorities, through a parsimonious and principles-based expansion of encouraged data categories covering selected aspects in the areas of public debt, macro-financial indicators, foreign exchange intervention, climate change-related policy, and gender- disaggregated labor market statistics. The Review also focuses on strengthening the monitoring of the first tier of the Data Standards Initiatives, the enhanced General Data Dissemination System (e-GDDS), and encouraging subscribers of the second tier, the Special Data Dissemination Standard (SDDS), to modernize data publication technology.
highlights the trade-offs and risks that feed into decision-making, thereby lending credibility to the authorities’ policies. In addition to fostering accountability with domestic stakeholders, increased dissemination helps mitigate risks perceived by domestic and international investors.
Evolution of IMFDataStandardsInitiatives
(Number of member countries unless otherwise indicated)
Source:Dissemination Standards Bulletin Board.
Achievements Sincethe 2015 Ninth Review
(Number of economies)
Ninth Review May 2015
Since the IMF launched the data standards initiatives a decade ago, 145 of its 184 member countries have participated. This 80 percent participation rate reaffirms the importance countries place on data transparency in the globalized economy, which the initiatives promote. The wide participation can be attributed to the consultative process that has allowed for the development of a coherent program that takes account of countries' capabilities, delineates clear responsibilities between the IMF and participating countries, and establishes effective monitoring procedures to ensure the credibility of the standards for policymakers, capital markets, and the general public. The approach has also provided checks and balances and fostered accountability. The initiatives may provide insights for the promotion of similar international standards.
of an earlier draft. The paper has also benefited from assistance from Anthony Pellechio, Alain Brousseau, Zdravko Balyozov, Louis Venter, Angel Sanchez, Norma Marotta, Sheridan Parsonson, and Catherine Braganza.
2 Board papers are those the IMF staff prepares for discussion by the IMF Executive Board, whose endorsement is sought for certain IMF work programs.
3 The DQAF was developed partly in response to United Nations Statistical Commission’s comments in February 1999 that the usefulness of the IMFdatastandardsinitiatives would be enhanced if they