IMF Data Standards Initiatives: A Consultative Approach To Enhancing Global Data Transparency
IMF Working Papers, April 1, 2006
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Bibliographic details
- Authors: Anne Y. Kester
- Published: April 1, 2006
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451863628.001
Summary and participation
- Since the IMF launched the data standards initiatives a decade ago, 145 of its 184 member countries have participated.
- This 80 percent participation rate is presented as evidence of the importance countries place on data transparency in the globalized economy.
- The initiatives aim to promote data transparency for policymakers, capital markets, and the general public.
Consultative process and program design
- The consultative process is identified as a key factor for wide participation.
- Elements of the approach:
- Development of a coherent program that takes account of countries' capabilities.
- Delineation of clear responsibilities between the IMF and participating countries.
- Establishment of effective monitoring procedures to ensure the credibility of the standards.
- Provision of checks and balances and fostering of accountability.
Outcomes, credibility, and potential broader relevance
- The program’s monitoring procedures are intended to ensure credibility for policymakers, capital markets, and the general public.
- The approach is suggested to provide insights for the promotion of similar international standards.
Subjects and keywords
- Subject: Data dissemination, Dissemination Standards Bulletin Board (DSBB), Financial statistics, Special Data Dissemination Standard (SDDS)
- Keywords: country, GDDS country, sc, SDDS enhancement, SDDS subscriber, WP
Content based on IMF Working Paper "IMF Data Standards Initiatives: A Consultative Approach To Enhancing Global Data Transparency" by Anne Y. Kester (April 1, 2006).