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International Monetary Fund. Statistics Dept.

. Nonobservance procedures have not been invoked since the introduction of revised procedures in the context of the Eighth Review in 2012 . 8 Subscribers generally have strong capacity and observe the requirements. Consequently, the framework is largely “self-policing,” requiring relatively limited staff resources for effective oversight in most cases. Close collaboration and consultation between staff and subscribers (through the SDDS coordinator/s) on emerging issues have, so far, effectively pre-empted the need to invoke these procedures. 26. Most SDDS subscribers

International Monetary Fund

posted on the DSBB. In such situations, the staff would, after informing the SDDS coordinator, post a note on the DSBB indicating that the metadata in question were in the process of being updated. While the staff would work with the SDDS coordinator to ensure that the affected metadata were amended expeditiously, subscribers would be required, in any event, to provide the revised metadata at the time of the next quarterly certification. Failure to do so would set in train the steps outlined immediately above. Monitoring observance 33. At the July discussion

International Monetary Fund. Statistics Dept.
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.
International Monetary Fund. Statistics Dept.

additional SDDS Plus data categories. Upon receipt of these metadata from a potential SDDS Plus adherent, the IMF staff will work with the authorities to determine where its practices stand with respect to the SDDS Plus, including if there are transition plans for up to four of these data categories to meet the SDDS Plus requirements by the end of 2019. The potential adherent should also designate an official to serve as the SDDS Plus coordinator. This official could be the SDDS coordinator. 1.23 Once the IMF staff is assured that the potential adherent meets all the

International Monetary Fund
This paper reports on developments in the Data Standards Initiatives since the Seventh Review of the Fund’s Data Standards Initiatives (December 2008), and presents proposals for further enhancing the SDDS, and for data categories for the new higher tier of the data standards, the SDDS Plus. The SDDS Plus is primarily intended for subscribers to the SDDS with systemically important financial sectors while contributing to address further the data gaps revealed in the global financial crisis. This new tier is designed to enhance and supplement the Fund’s Data Standards Initiatives and not to replace the SDDS.
International Monetary Fund

. B. SDDS Developments 9. The SDDS legal text was updated to reflect the Executive Board’s decisions made at the meetings on the Seventh Review and on Broadening Financial Indicators in the SDDS and, after the approval of the Executive Board, the updated version was published in September 2010 . Staff then notified the SDDS coordinators and advised them to begin implementing the recent enhancements to the SDDS (as reflected in its legal text) as soon as possible. Progress achieved thus far is described below. Citations and Deviations from Internationally

International Monetary Fund. Statistics Dept.

constitute a serious deviation. 6 Serious deviations could also arise when other types of compliance issues are identified but are not resolved through technical discussions with IMF staff within six months. 10.7 Deviations from the SDDS undertakings with the elements described above will be addressed in accordance with the following nonobservance procedures: If a deviation is detected, IMF staff will determine whether such deviation constitutes nonobservance. If so determined, the SDDS coordinator will be promptly notified of this deviation. Technical