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International Monetary Fund

steps would be indicative only. The staff would exercise judgement and, while generally seeking to follow these indicative time periods, would tailor them to the specific situation being addressed: First, a deviation of any kind from the requirements of the SDDS would be brought immediately to the attention of the SDDS country coordinator and in the case of an oversight or technical slippage could presumably be resolved within a few days. Subsequent steps would follow a graduated approach that would have increasingly serious implications and that would

International Monetary Fund

. GDDS Participants Included in the Group of Selected Countries by Region II.1. Ranks of GDDS Country Coordinators II.2. Ranks of SDDS Country Coordinators Acronyms 1993 SNA System of National Accounts 1993 AFR African Department APD Asia and Pacific Department ARC Advance Release Calendar BPM5 Balance of Payments Manual, fifth edition CPI Consumer price index DQAF Data Quality Assessment Framework DSBB Dissemination Standards Bulletin Board EUR European Department FSIs Financial Soundness Indicators GDDS or

International Monetary Fund

communications between the IMF staff and SDDS country coordinators, each month the IMF staff sends to each of the coordinators a monthly “monitoring report,” where appropriate, suggesting ways to address deviations. 10.5 The IMF staff, as endorsed by the IMF Executive Board, also posts an annual assessment report on each subscribing country’s observance of the SDDS (beginning in 2007 for the year 2006; see Box 1.2 in Chapter 1 ). The assessment aggregates the monthly monitoring reports and covers each country’s observance of the SDDS with respect to coverage, periodicity

International Monetary Fund

. B. Current Dissemination Practices and Outstanding Issues 4. Pursuant to a decree of the Prime Minister that appointed the Minister of Planning as SDDS country coordinator, the Egyptian authorities plan to subscribe to the SDDS in January 2004. 4 The authorities have provided draft metadata for all prescribed data categories. In some instances, the metadata provided to date to the IMF have included information on dissemination practices that would be adopted to meet the requirements for subscription to the SDDS but have not yet been fully implemented. 5

Ms. Anne Y. Kester
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.
Ms. Anne Y. Kester

compilation and dissemination practices. In addition, the monitoring tracks whether a subscribing country adheres to the standardized electronic procedures the IMF staff establishes for the SDDS. The IMF staff maintains periodic communications with SDDS country coordinators on SDDS issues as they arise and assists the countries to resolve them. Procedures are in place to address nonobservance. B. Conferences, Seminars, and Other Consultations Following the Asian crises, the IMF undertook to strengthen the SDDS in the areas of international reserves and external debt

International Monetary Fund. Statistics Dept.

coverage, timeliness, and periodicity of data disseminated on a subscriber’s NSDP 3 relative to the requirements of the SDDS and information shown on the ARCs, and in the metadata. The metadata are to be updated to reflect actual compilation and dissemination practices. In addition, monitoring assesses whether a subscriber adheres to the standardized electronic procedures the IMF staff establishes for the SDDS in consultation with subscribers (see Chapters 8 and 9 ). 10.4 In addition to periodic communications between the IMF staff and SDDS country coordinators

International Monetary Fund
This paper reviews the role of the GDDS in helping developing and emerging market countries improve the dissemination of macroeconomic and sociodemographic data. It considers whether the GDDS, in the way it was designed about a decade ago and enhanced along the way, has fulfilled its purpose. Further, it considers whether the GDDS remains relevant to its current and prospective members, given ongoing global integration, increasing emphasis on transparency and governance mechanisms, and increased reliance on the Internet and electronic data transmission.