{
  "title": "Press Release: IMF Executive Board Approves the Special Data Dissemination Standard",
  "publication": "IMF News, April 16, 1996",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr9618",
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  "summary": "The Executive Board of the International Monetary Fund approved the Special Data Dissemination Standard (SDDS) on April 16, 1996.",
  "publishDate": "1996-04-16",
  "sections": [
    {
      "heading": "Approval and purpose",
      "content": "- The Executive Board of the International Monetary Fund approved the Special Data Dissemination Standard (SDDS) on April 16, 1996.\n- Purpose: to guide IMF members in the provision to the public of comprehensive, timely, accessible, and reliable economic and financial statistics in a world of increasing economic and financial integration.\n- Subscription:\n  - Voluntary; IMF will make public the list of subscribers.\n  - Invitations for subscription have been sent to all IMF member countries and a detailed package of subscription materials will be sent forthwith."
    },
    {
      "heading": "Context and timeline",
      "content": "- Background:\n  - The IMF's Interim Committee emphasized timely publication of comprehensive economic and financial data at its April 26, 1995 meeting in the aftermath of the Mexican financial crisis of early 1995.\n  - The Interim Committee requested the Executive Board to work toward establishment of standards and subsequently endorsed the establishment at its meeting on October 8, 1995.\n- Parallel work: a General Data Dissemination Standard (GDDS) is being developed for all IMF members; a proposal is expected to be considered by the Executive Board in late 1996.\n- Implementation milestones:\n  - The IMF will establish and maintain an electronic Dissemination Standards Bulletin Board (DSBB) on the Internet.\n  - The DSBB is expected to be open to the public by the end of August 1996.\n  - The SDDS will operate in a transition period running through December 31, 1998."
    },
    {
      "heading": "Core elements of the SDDS",
      "content": "- The SDDS comprises four elements:\n  - a) Coverage, periodicity, and timeliness of data\n    - Specifies dissemination covering the real, fiscal, financial, and external sectors with the components, periodicity and timeliness for the several data categories.\n    - Examples: dissemination of GDP on a quarterly basis within one quarter; international reserves data on a monthly basis within one week.\n  - b) Access by the public\n    - Calls for advance dissemination of data release calendars and the simultaneous release of data to all interested parties to support ready and equal access.\n  - c) Integrity\n    - Supports transparency of practices and procedures, including dissemination of the terms and conditions under which official statistics are produced (including confidentiality provisions); identification of internal government access to data before release; identification of ministerial commentary on the occasion of statistical releases; and provision of information about revision and advance notice of major changes in methodology.\n  - d) Quality\n    - Prescribes dissemination of documentation on methodology and sources; dissemination of component detail, reconciliations with related data, and statistical frameworks that support cross-checks and provide assurance of reasonableness."
    },
    {
      "heading": "Implementation mechanics and IMF role",
      "content": "- DSBB functions:\n  - Identify members subscribing to the SDDS.\n  - Provide wide and easy access to information about their statistical practices (\"metadata\") prescribed under the SDDS.\n  - IMF is exploring ways to establish easy electronic links from the DSBB to sites where actual country economic data can be found.\n- Subscriber obligations and review:\n  - Members that subscribe may notify the Managing Director of the IMF.\n  - No later than three months after subscription, the member is expected to provide most information describing its data dissemination practices.\n  - Such practices will be reviewed to ensure they are comprehensive and presented in a reasonably internationally comparable way.\n  - During the transition period, members may subscribe even though they are not able to observe the SDDS in full; they must identify elements not met and present a plan to meet the SDDS by the end of the transition period.\n  - Members that subscribe after the transition period must do so on the basis of full observance of the SDDS.\n  - The IMF will, in dialogue with members, elaborate procedures to deal with cases of severe and persistent non-observance."
    },
    {
      "heading": "Public access and contacts",
      "content": "- Materials on the SDDS have been released and are available from the IMF on request.\n- Contact numbers provided in the press release:\n  - Members of the press: IMF's Information Division, telephone (202) 623-7100.\n  - Members of the general public: IMF's Public Affairs Division, telephone (202) 623-7300.\n\nPress Release No. 96/18, April 16, 1996.\n\n---\n\n\n References\n\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr9618"
    }
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    "Published: April 16, 1996",
    "The Executive Board of the International Monetary Fund approved the Special Data Dissemination Standard (SDDS) on April 16, 1996.",
    "Purpose: to guide IMF members in the provision to the public of comprehensive, timely, accessible, and reliable economic and financial statistics in a world of increasing economic and financial integration.",
    "Subscription:",
    "Background:",
    "Parallel work: a General Data Dissemination Standard (GDDS) is being developed for all IMF members; a proposal is expected to be considered by the Executive Board in late 1996.",
    "Implementation milestones:",
    "The SDDS comprises four elements:",
    "DSBB functions:",
    "Subscriber obligations and review:",
    "Materials on the SDDS have been released and are available from the IMF on request.",
    "Contact numbers provided in the press release:",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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