Origin and Purpose
1.1 The International Monetary Fund (IMF) introduced the Data Standards Initiatives following the 1994–95 international financial crises for the purpose of promoting the transparency of economic and financial data. The Data Standards Initiatives consist of three tiers:
The first tier, the Special Data Dissemination Standard (SDDS), was established in 1996 to guide member countries (in particular those that have or that might seek access to international capital markets) in providing economic and financial data to the public.
The second tier, the General Data Dissemination System (GDDS), was established in 1997 as a statistical framework to guide member countries with less-developed statistical systems to evaluate their needs for data improvements and setting priorities.
The third tier, the Special Data Dissemination Standard Plus (SDDS Plus), was established in 2012 and builds on the SDDS to guide member countries on the provision of economic and financial data to the public in support of domestic and international financial stability (see Box 1.1).
1.2 The 2008 global crisis led to a reassessment of the scope of economic and financial data disseminated to the public. This reassessment was primarily undertaken in the context of the Group of Twenty/International Monetary and Financial Committee (G-20/ IMFC) Data Gaps Initiative and has led to a number of statistical enhancements, including the development of the SDDS Plus. The Data Gaps Initiative identified gaps in three areas: (1) the buildup of risk in the financial sector (both bank and nonbank); (2) cross-border linkages and investment positions and exposures; and (3) the monitoring of vulnerabilities of domestic economies to shocks. In addition, IMF staff conducted outreach seminars to discuss with SDDS subscribers (and certain GDDS participants), experts in other international organizations, and capital market participants their views on the SDDS Plus and to obtain their advice and feedback.
1.3 Countries have become more interlinked with each other through the asset and liability management strategies of their governments and through financial institutions and corporations, which have become increasingly global in nature. Information on financial network linkages to better understand and foresee how shocks to institutions and markets can propagate through the international financial systems is therefore needed. Consequently, the SDDS Plus goes beyond the focus of the SDDS on access to international capital markets by putting an emphasis on countries that have systemically important financial sectors and are integral to the working of the international monetary system. All SDDS subscribers can adhere to the SDDS Plus and are encouraged to do so.
Establishment of the SDDS Plus and the SDDS Plus Guide
The Special Data Dissemination Standard Plus (SDDS Plus) was approved by the IMF’s Executive Board during the eighth review of the IMF’s Data Standards Initiatives in February 2012. Based on this review, a legal text describing the requirements for SDDS Plus was prepared and approved by the IMF’s Executive Board in October 2012. (The legal text is available on the Internet at www.imf.org/external/np/pp/eng/2012/090712a.pdf.)
This SDDS Plus Guide has been prepared by IMF staff, based on the understandings detailed in the SDDS Plus legal text. In this context, any future changes or enhancements to the SDDS Plus initiative, including data coverage, periodicity, and timeliness, could only take place after discussion by the IMF’s Executive Board and the approval of a revised legal text. The legal text includes references to the recommended methodologies based on the latest editions of manuals and guides for the nine SDDS Plus data categories. The reference to a successor methodology is included to further encourage adherents to adopt the successor methodology as it becomes available. It also allows countries that decide to adopt these successor methodologies to report data, with comparable detail, using the new methodology.
The IMF’s Executive Board reviews the IMF’s Data Standards Initiatives periodically.
1.4 When an SDDS subscriber joins the SDDS Plus, it becomes an SDDS Plus adherent. An SDDS Plus adherent must observe requirements for nine data categories, in addition to being an SDDS subscriber in full observance of all SDDS requirements. 1 These nine data categories are: sectoral balance sheets, quarterly general government operations (GGO), general government total gross debt (GGD), other financial corporations survey (OFCS), financial soundness indicators (FSIs), debt securities, participation in the coordinated portfolio investment survey (CPIS), participation in the coordinated direct investment survey (CDIS), and participation in the currency composition of official foreign exchange reserves (COFER) database (see Table 1.1).
The Special Data Dissemination Standard Plus: Coverage, Periodicity, and Timeliness
Periodicity and timeliness: (M) monthly or with lag of no more than one month after the reference date (or the end of the reference period); (Q) quarterly or with lag of no more than one quarter after the reference date (or the end of the reference period); (A) annual.
Provide data by instrument on a best-effort basis. The SDDS Plus encourages adherents to classify financial derivatives in a separate functional category, in line with internationally accepted statistical methodologies.
Memorandum items should be provided on a best-effort basis.
Preferably debt securities would be presented at market values, but they also could be presented at nominal values or both. Countries are required to indicate the valuation method in their metadata.
Beginning in 2015, the SDDS Plus prescribes semiannual data, as of June and December each year.
The Special Data Dissemination Standard Plus: Coverage, Periodicity, and Timeliness
| Coverage | Periodicity1 | Timeliness1 | |
|---|---|---|---|
| Category | Components | ||
| Real sector Sectoral balance sheets | See Table 2.12 | Q | Q |
| Fiscal sector General government operations (GGO) or public sector operations (PSO), as relevant | See Table 3.1 | Q | 12M |
| General government total gross debt (GGD) | See Table 3.23 | Q | 4M |
| Financial sector Other financial corporations survey (OFCS) | See Table 4.1 | Q | Q |
| Financial soundness indicators (FSIs) | Regulatory tier 1 capital to risk-weighted assets (RWA) Regulatory tier 1 capital to assets Nonperforming loans (NPLs) net of provisions to capital Nonperforming loans to total gross loans Return on assets Liquid assets to short-term liabilities Residential real estate prices | Q | Q |
| Debt securities4 | See Table 4.2 | Q | Q |
| External sector Coordinated portfolio investment survey (CPIS) | Participation in CPIS—IMF certification | A (SA beginning in June 20155) | 7M |
| Coordinated direct investment survey (CDIS) | Participation in CDIS—IMF certification | A | 9M |
| Currency composition of official foreign exchange reserves (COFER) | Participation in COFER—IMF certification | Q | Q |
Periodicity and timeliness: (M) monthly or with lag of no more than one month after the reference date (or the end of the reference period); (Q) quarterly or with lag of no more than one quarter after the reference date (or the end of the reference period); (A) annual.
Provide data by instrument on a best-effort basis. The SDDS Plus encourages adherents to classify financial derivatives in a separate functional category, in line with internationally accepted statistical methodologies.
Memorandum items should be provided on a best-effort basis.
Preferably debt securities would be presented at market values, but they also could be presented at nominal values or both. Countries are required to indicate the valuation method in their metadata.
Beginning in 2015, the SDDS Plus prescribes semiannual data, as of June and December each year.
The Special Data Dissemination Standard Plus: Coverage, Periodicity, and Timeliness
| Coverage | Periodicity1 | Timeliness1 | |
|---|---|---|---|
| Category | Components | ||
| Real sector Sectoral balance sheets | See Table 2.12 | Q | Q |
| Fiscal sector General government operations (GGO) or public sector operations (PSO), as relevant | See Table 3.1 | Q | 12M |
| General government total gross debt (GGD) | See Table 3.23 | Q | 4M |
| Financial sector Other financial corporations survey (OFCS) | See Table 4.1 | Q | Q |
| Financial soundness indicators (FSIs) | Regulatory tier 1 capital to risk-weighted assets (RWA) Regulatory tier 1 capital to assets Nonperforming loans (NPLs) net of provisions to capital Nonperforming loans to total gross loans Return on assets Liquid assets to short-term liabilities Residential real estate prices | Q | Q |
| Debt securities4 | See Table 4.2 | Q | Q |
| External sector Coordinated portfolio investment survey (CPIS) | Participation in CPIS—IMF certification | A (SA beginning in June 20155) | 7M |
| Coordinated direct investment survey (CDIS) | Participation in CDIS—IMF certification | A | 9M |
| Currency composition of official foreign exchange reserves (COFER) | Participation in COFER—IMF certification | Q | Q |
Periodicity and timeliness: (M) monthly or with lag of no more than one month after the reference date (or the end of the reference period); (Q) quarterly or with lag of no more than one quarter after the reference date (or the end of the reference period); (A) annual.
Provide data by instrument on a best-effort basis. The SDDS Plus encourages adherents to classify financial derivatives in a separate functional category, in line with internationally accepted statistical methodologies.
Memorandum items should be provided on a best-effort basis.
Preferably debt securities would be presented at market values, but they also could be presented at nominal values or both. Countries are required to indicate the valuation method in their metadata.
Beginning in 2015, the SDDS Plus prescribes semiannual data, as of June and December each year.
1.5 The IMF has established an electronic bulletin board, the Dissemination Standards Bulletin Board (DSBB), on the IMF website (at http://dsbb.imf.org) as part of the Data Standards Initiatives to support ready access by the public to information on countries’ data dissemination practices. The DSBB will also be used by SDDS Plus adherents for this purpose.
Key Aspects of Dissemination
1.6 The SDDS Plus, like the SDDS, identifies four dimensions of data dissemination:
Data coverage, periodicity (frequency), and timeliness
Access by the public
Integrity of the disseminated data
Quality of the disseminated data.
1.7 For each of these dimensions, the SDDS Plus prescribes, as in the case of the SDDS, best practices that can be observed or monitored by the users of statistics. These practices are referred to as monitorable elements. The four dimensions and monitorable elements of the SDDS Plus are elaborated in Box 1.2.
1.8 Under the dimension of data coverage, periodicity, and timeliness, the SDDS Plus focuses on disseminating the prescribed data categories under the SDDS and nine additional data categories. The prescribed SDDS data categories include the data considered most important for assessing macroeconomic performance and policy analysis.2 The nine additional prescribed categories include data that aim to support financial stability analysis and policymaking. The prescribed SDDS Plus data categories fall under the four key sectors of the economy (real, fiscal, financial, external).
1.9 Although the SDDS Plus does not require the adoption of the latest internationally accepted methodologies, SDDS Plus adherents are, nevertheless, encouraged to adopt these methodologies in their compilation practices. Adherents should indicate in the metadata the methodologies used and deviations, if any, from internationally accepted practices. Recommended methodologies based on the latest editions of manuals and guides are indicated for the nine SDDS Plus data categories. The reference to a successor methodology is included to further encourage adherents to adopt the successor methodology as it becomes available. It would also allow countries that decide to adopt these successor methodologies to report data, with comparable detail, using the new methodology. However, any change in the SDDS Plus requirements, including those resulting from changes in any underlying methodology, will have to be approved by the IMF’s Executive Board.
1.10 Under the real sector, the SDDS Plus prescribes an additional data category for dissemination concerning a minimum set of internationally comparable sectoral financial balance sheets. These balance sheets will include the subsectors of the financial corporations’ sector derived from the System of National Accounts, 2008 (2008 SNA) and the standard financial asset and liability instrument classification from the 2008 SNA. The adoption of successor methodology as it becomes available is encouraged.
The Dimensions and Monitorable Elements of the SDDS Plus
Data Coverage, Periodicity, and Timeliness: Comprehensive economic and financial data disseminated on a timely basis are essential to the transparency of macroeconomic performance and policy analysis. Countries adhering to the Special Data Dissemination Standard Plus (SDDS Plus) are obliged to disseminate the prescribed categories of data with the specified coverage, periodicity, and timeliness.
Access by the Public: Dissemination of official statistics is an essential feature of statistics as a public good. The SDDS Plus calls for providing the public, including market participants, ready and equal access to the data. Countries adhering to the SDDS Plus are obliged to disseminate advance release calendars (ARCs) for the data except for coordinated portfolio investment survey (CPIS), coordinated direct investment survey (CDIS), and currency composition of official foreign exchange reserves (COFER) data; and release the data, except CPIS, CDIS, and COFER data, to all interested parties simultaneously. There are no ARC dates associated with CPIS, CDIS, and COFER data. The SDDS Plus only calls for reporting to the International Monetary Fund (IMF) within the specified timeliness for these three categories, along with redissemination on the National Summary Data Page (NSDP) for only CPIS and CDIS (not COFER). The time of dissemination could be at the same time as the reporting to the IMF or immediately after the CPIS and CDIS data are disseminated by the IMF on the CPIS and CDIS websites maintained by the IMF. If adherents decide to disseminate these data immediately after the data are disseminated by the IMF, they can either redisseminate the data on the NSDP or provide a hyperlink on the NSDP to the CPIS and CDIS websites maintained by the IMF.
Integrity: To fulfill the purpose of providing the public with information, official statistics must have the confidence of their users. In turn, confidence in the statistics ultimately becomes a matter of confidence in the objectivity and professionalism of the agency producing the statistics. Transparency of practices and procedures is a key factor in creating this confidence. Countries adhering to the SDDS Plus are obliged to (1) disseminate the terms and conditions under which official statistics are produced, including those relating to the confidentiality of individually identifiable information; (2) identify internal government access to data before release to the public; (3) identify ministerial commentary on the occasion of statistical releases; and (4) provide information about revisions and advance notice of major changes in methodology.
Quality: A set of standards that deals with the coverage, periodicity, and timeliness of data must also address the quality of statistics. Although quality is difficult to judge, monitorable proxies, designed to focus on information the user needs to judge quality, can be useful. Countries adhering to the SDDS Plus are obliged to (1) disseminate documentation on methodology and sources used in preparing statistics, including the identification of methodological deviations from internationally accepted statistical methodologies; (2) encouraging data modules of the Reports on the Observance of Standards and Codes (Data ROSCs) or other quality assessments every 7–10 years; and (3) disseminate component detail, reconciliations with related data, and statistical frameworks that support statistical cross-checks and provide assurance of reasonableness.
1.11 Under the fiscal sector, the SDDS Plus prescribes two additional data categories concerning GGO and GGD. Although GGO is a prescribed data category under the SDDS, it is also an additional required data category under the SDDS Plus with specified periodicity, timeliness, and classification requirements that differ from those under the SDDS. Under the SDDS, data on GGO are required to be disseminated on an annual basis within two quarters after the end of the reference period, while the SDDS Plus requires dissemination of quarterly GGO data within 12 months after the end of the reference period. In addition, the SDDS Plus requires that GGO data be published using the Government Finance Statistics Manual, 2001 (GFSM 2001) format. The SDDS encourages, but does not require, the classification of these data in this manner (see also Box 3.1). The adoption of successor methodology as it becomes available is encouraged. GGD is an additional data category required only under the SDDS Plus.
1.12 Under the financial sector, the SDDS Plus prescribes three additional data categories concerning other financial corporations (OFCs) survey, seven FSIs, and debt securities.
1.13 Under the external sector, the SDDS Plus prescribes the participation in three additional data categories, the CPIS, CDIS, and COFER. Redissemination of CPIS and CDIS data after dissemination by the IMF is required at a minimum. Public dissemination of COFER data is not required; only participation (and, therefore, disclosure of participation) in COFER is required.
1.14 For each of the nine additional data categories, the SDDS Plus prescribes the components, periodicity, and timeliness with which data are to be disseminated or reported to the IMF. These elements are detailed in Table 1.1.
1.15 SDDS Plus adherents may adopt procedures based on sound statistical techniques to take into account missing components or other information gaps. The use of these statistical techniques should be documented in the metadata for the relevant data category.
1.16 With regard to data access, integrity, and quality, the SDDS Plus emphasizes transparency in the compilation and dissemination of data.
To promote ready and equal access, the SDDS Plus prescribes (1) dissemination of advance release calendars (ARCs) and (2) simultaneous release to all interested parties.
To assist users in assessing the integrity of the data, the SDDS Plus prescribes (1) the dissemination of the terms and conditions under which official statistics are produced and disseminated; (2) the identification of internal government access to data before release to the public; (3) the identification of ministerial commentary on the occasion of statistical releases; and (4) the provision of information about revisions3 and advance notice of major changes in methodology.
To assist users in assessing data quality, the SDDS Plus (1) prescribes the dissemination of documentation on statistical methodology, including deviations from internationally accepted statistical methodologies; (2) encourages data modules of the Reports on the Observance of Standards and Codes (Data ROSCs) or other quality assessments every seven to ten years; and (3) prescribes the dissemination of component detail, reconciliations with related data, and statistical frameworks allowing cross-checks and checks of reasonableness.
1.17 The SDDS Plus allows for a transition period—for up to four of the nine additional data categories—but its requirements for all nine data categories must be met by the end of 2019.4 For adherents availing themselves of the transition period, credible transition plans must be elaborated for each data category, demonstrating how the requirements will be met by the end of 2019. By the end of 2019, all SDDS Plus adherents should meet the requirements for all nine additional data categories.
1.18 Flexibility Options. No flexibility options are available for any of the nine additional SDDS Plus data categories. However, an SDDS Plus adherent maintains the right to apply the SDDS flexibility options available to it for the SDDS data categories under the SDDS Plus. Flexibility options under the SDDS allow SDDS subscribers to disseminate data with a periodicity or timeliness (or both) “less” than prescribed. The availability of flexibility options under the SDDS varies by data categories (and this is described in detail in the SDDS Guide).
1.19 Dissemination Formats. Dissemination refers to the release of data to the public in traditional formats and electronically. An SDDS Plus adherent is to use the National Summary Data Page (NSDP) and ARC mechanisms of the SDDS Plus for dissemination of data and their release dates. The NSDP for the SDDS Plus is to be hyperlinked to the IMF’s Dissemination Standards Bulletin Board (DSBB), facilitating ready access to the adherent’s data and metadata (covering statistical methods and practices) by the public.
1.20 The NSDP for an adherent is to follow the guidelines for SDDS Plus adherents that are provided on the IMF’s DSBB. An adherent’s NSDP will contain information on the SDDS prescribed data categories and the nine additional SDDS Plus data categories. Participation in the COFER database is to be noted on the NSDP, but public dissemination of COFER data is not required. The SDDS Plus also requires that hyperlinks on NSDPs provide users with access to time series for all data categories, except for COFER data, for the last five years (or less than five years if the data series was created less than five years from the date of posting the hyperlink). The ARC for an adherent is to include release dates for all the SDDS prescribed data categories and the additional SDDS Plus data categories except for CPIS, CDIS, and COFER data.
Adherence to the SDDS Plus
1.21 Adherence to the SDDS Plus is voluntary and is open to all SDDS subscribers that are in full observance of the SDDS. Countries adhering to the SDDS Plus must undertake to observe the various dimensions and elements of the SDDS Plus and provide the necessary information to the IMF for dissemination on the DSBB. A basic tenet of the SDDS Plus is that an adherent wants to demonstrate to the public—in particular, participants in financial markets—that it disseminates the highest quality data according to the highest international data standards.
1.22 An SDDS subscriber that wishes to adhere to the SDDS Plus should communicate this intention to the Director of the Statistics Department of the IMF5 and undertake to provide IMF staff with information on the potential adherent’s data dissemination practices (metadata) for the nine 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 relevant requirements, it will inform the authorities that it may proceed to inform the Secretary of the IMF of its adherence to the SDDS Plus. A public notice to this effect will be posted on the IMF’s DSBB.
1.24 In all cases, the IMF publicly identifies an adherent to the SDDS Plus by posting the adherent’s metadata on the DSBB. An adherent may withdraw its adherence to the SDDS Plus at any time by sending a notification to the IMF’s Managing Director. The relevant metadata would then be removed promptly from the DSBB.
The Dissemination Standards Bulletin Board
1.25 Each SDDS Plus adherent is to provide to the IMF for posting on the DSBB information about the availability of the prescribed data categories and related compilation and dissemination practices (i.e., the metadata). While the IMF will post adherents’ metadata on the DSBB, the responsibility for the accuracy and completeness of the metadata and underlying economic and financial data remains with each respective adherent. Each adherent’s metadata should describe the practice for each of the monitorable elements of the SDDS Plus. The metadata are to be submitted electronically in formats provided by the IMF staff to facilitate the presentation of the metadata on the DSBB.
1.26 The DSBB provides a webpage for each adherent. On the adherent’s page, the DSBB presents the adherent’s metadata for the SDDS prescribed data categories and the nine SDDS Plus data categories. In addition, the DSBB displays the adherent’s ARCs for the various prescribed categories and components of data. It also provides a summary of the adherent’s observance of the SDDS Plus. The presentation of metadata on the DSBB allows users to assess the usefulness and limitations of adherents’ data. It also facilitates the IMF’s monitoring of adherents’ observance of the SDDS Plus requirements.
Commitment to Observance
1.27 Specifically, by adhering to the SDDS Plus, an adherent commits to:
Compile all data categories and related components required by the SDDS Plus.
Disseminate data with the prescribed periodicity and timeliness on a readily accessible webpage on its national website, the NSDP for SDDS Plus adherents,6 hyperlinked to the DSBB.
Provide the IMF with an ARC containing release dates for each prescribed data category, except CPIS, CDIS, and COFER data, for posting on the adherent’s page on the DSBB (the ARC dates should conform to SDDS Plus requirements for periodicity and timeliness of data dissemination; the ARC provides release dates for the current month and at least the following three months).
Provide metadata for dissemination on the DSBB in English, using the predetermined electronic format the IMF provides, to facilitate cross-adherent comparison.7
Certify the accuracy of the metadata annually and undertake to update the metadata within the calendar quarter when changes have occurred.
Appoint an SDDS Plus coordinator to work with the IMF on various operational aspects of the SDDS Plus.8
1.28 The SDDS Plus coordinator is the main contact person the adherent designates to work with the IMF on SDDS Plus issues. The role of the SDDS Plus coordinator is similar to that of the SDDS coordinator. For example, after adherence, compiling agencies’ correspondence with the IMF on SDDS Plus matters is to be channeled through the SDDS Plus coordinator or the alternate. To be effective, the coordinator must have sufficient authority to obtain the full cooperation of all national agencies involved in the compilation and dissemination of the data covered by the SDDS Plus. The SDDS Plus coordinator oversees the posting of national data via the NSDP on a regular and timely basis. The coordinator is responsible for annual certification of the national metadata, as well as for all metadata updates. In addition, the coordinator oversees the transmission of ARCs to the IMF for posting on the IMF’s DSBB.
Monitoring Observance
1.29 To maintain the credibility of the SDDS Plus, the IMF verifies whether data posted through an adherent’s NSDP (except CPIS, CDIS, and COFER data) are consistent with the release dates indicated in the ARC, as provided by the adherent to the IMF, and with the adherent’s metadata posted on the DSBB. The IMF also verifies whether the data accord with the coverage, periodicity, and timeliness prescribed in the SDDS Plus.9 In addition to monthly reports sent to individual adherents about their observance, the IMF staff will post on the DSBB an annual assessment report covering each adherent’s observance of the SDDS Plus.
1.30 To facilitate the IMF staff’s monitoring of observance of the SDDS Plus, adherents are required to adopt—in line with the legal text—the standardized electronic procedures established by the IMF in consultation with adherents (in particular, the use of the Integrated Correspondence System (ICS) for reporting the ARCs, updating the metadata, and certifying the accuracy of the metadata and their updates). The SDDS Plus also establishes a standard format for NSDPs using SDMX. IMF staff aim to design procedures with a view to keeping the reporting burden and the cost of observance for adhering countries to a minimum.
1.31 The list of SDDS Plus adherents will be posted on the DSBB at http://dsbb.imf.org/. Countries’ inclusion in the list of adherents indicates that they adhere to, and intend to observe, the substantive and operational aspects of the SDDS Plus.
Removal from the DSBB
1.32 Any deviations from the SDDS Plus undertakings with regard to observing the elements of its four dimensions, maintaining an NSDP, and observing the metadata certification and monitoring requirements will be subjected to the same nonobservance procedures applicable to SDDS subscribers. The nonobservance procedures are discussed in the SDDS Guide.
1.33 If the IMF’s Executive Board decides to delete an adherent’s metadata from the DSBB in application of the nonobservance procedures in a case of deviations arising solely from a nonobservance by the adherent of its undertakings under the SDDS Plus, that is, with respect to the nine additional SDDS Plus data categories, the adherent’s metadata would be removed from the SDDS Plus and disseminated solely under the SDDS. The subscriber would, henceforth, no longer be an SDDS Plus adherent, but would still be an SDDS subscriber.
1.34 If the IMF’s Executive Board decides to delete the metadata of an SDDS subscriber that is also an adherent to the SDDS Plus due solely to the nonobservance of its undertakings under the SDDS (i.e., with respect to the SDDS prescribed data categories), the adherent’s metadata would be automatically deleted from both the SDDS and the SDDS Plus.
Contact Information
1.35 The Data Dissemination and Review Division of the IMF’s Statistics Department is the contact point for the SDDS Plus. Inquiries regarding the SDDS Plus should be addressed to:
Chief, Data Dissemination and Review Division
Statistics Department
International Monetary Fund
700 19th Street, N.W.
Washington, DC, 20431
USA
Telephone: (202) 623-6895
Fax: (202) 623-6165 or 202-623-6460
E-mail: sddsplus@imf.org
Website: http://dsbb.imf.org/sddsindex.htm
The SDDS requirements are detailed in the Special Data Dissemination Standard: Guide for Subscribers and Users (SDDS Guide), available at http://dsbb.imf.org/Pages/SDDS/Home.aspx, which should be referred to when using this guide.
For information on the prescribed SDDS data categories and the coverage, periodicity, and timeliness requirements related to these data categories, see the SDDS Guide.
Establishing a revision policy and publishing revisions in a transparent manner, as well as engaging in open communication with data users, are recommended. The objective of revision policies is to disseminate to the public data of better quality as it becomes available. For instance, quarterly data can be revised due to the increase in the number of reporting entities or as a result of quality checks performed after the data have been disseminated. A typical example of the latter is the benchmarking of quarterly data to annual data when the annual data become available. Compilers are encouraged to develop integrated revision policies that explain clearly how more frequent data can be revised as a result of the publication of less frequent data.
This implies that SDDS Plus adherents must meet data requirements for at least five of the nine additional data categories at the start.
The communication should be addressed to the Director of the Statistics Department, International Monetary Fund, 700 19th Street, N.W., Washington, DC 20431, USA; faxed to (202) 623-6165 or (202) 623-6460; or e-mailed to sddsplus@imf.org.
The guidelines for establishing the NSDP for SDDS Plus adherents differ from the guidelines for SDDS subscribers and include the dissemination of data in the formats of the Statistical Data and Metadata eXchange (SDMX) standards. Reliance on SDMX standards is expected to reduce observance costs by SDDS Plus adherents and monitoring costs for the IMF.
Adherents are required to observe guidelines set by the IMF, in consultation with adherents, for automating the monitoring process. This includes, but is not limited to, observing formatting guidelines for NSDPs that permit electronic scanning, using online procedures for reporting ARCs, and metadata updates and periodic certification of the accuracy of those metadata. These guidelines and procedures may evolve as technology changes.
An alternate coordinator may also be appointed. The appointment of an SDDS Plus coordinator is important because for most adhering countries observance of the SDDS Plus and the provision of information to the IMF involve at least three agencies: the central bank, the ministry of finance, and the national statistical office.
Monitoring is carried out by the staff of the IMF’s Statistics Department.