Quarterly Update on the Special Data Dissemination Standard
Second Quarter 2007
August 24, 2007New SDDS Guide
The Special Data Dissemination Standard: Guide for Subscribers and Users has been released (in English). It replaces the May 1996 provisional document entitled Guide to the Data Dissemination Standards (Module 1: The Special Data Dissemination Standard). It incorporates updates to the SDDS made by the IMF Executive Board in its reviews of the Standard since 1996. It delineates key features and operational characteristics of the SDDS. It aims to foster the observance of the SDDS consistently across subscribing countries to uphold the Standard's credibility for policymakers, capital market participants, and the public. In addition, it aims to assist countries participating in the IMF's General Data Dissemination System (GDDS) to move toward subscribing to the SDDS, as well as other member countries seeking subscription to the SDDS.
Observance Status
As of the end of the second quarter of 2007, all 64 SDDS subscribers were in observance of the SDDS requirements for the coverage, periodicity, and timeliness of the data and for the dissemination of advance release calendars (ARCs) (Table 1). The IMF's Dissemination Standards Bulletin Board (DSBB) disseminates a complete list of subscribers. Observance of SDDS metadata requirements improved with the increase in posted summary methodologies.
Monitoring Data Releases
The IMF monitors the data and access dimensions of the SDDS for each subscriber by comparing the first appearance of new information on the National Summary Data Page (NSDP) against the last release date announced in the ARC, which should meet the SDDS timeliness requirements. Table 2 contains results for the second quarter of 2007. Compared with the same quarter in 2006, there was a slight decline in timeliness of the monthly data, including data on central government operations. However, the timeliness for data disseminated on a quarterly basis improved by 1.9 percentage points, especially for data in the labor market categories. Moderate delays were recorded for annual data including those on general government operations. Compared with the first quarter of 2007, the timeliness of reporting improved slightly for monthly data, largely remained unchanged for quarterly data, and declined for annual data including those on general government operations and international investment position.
DQAF Conversion of Metadata
During the Sixth Review of the IMF's Data Standards Initiatives, the Executive Board of the International Monetary Fund endorsed the further integration of the SDDS and the GDDS into the IMF's Data Quality Program by reformatting countries' SDDS/GDDS metadata according to the Data Quality Assessment Framework (DQAF). At the time of this report, the staff had converted the metadata for 46 countries, and DQAF metadata for 44 countries have been posted on the DSBB. These countries are: Australia, Austria, Belarus, Belgium, Brazil, Bulgaria, Canada, Chile, Czech Republic, Denmark, Egypt, Finland, France, Germany, Greece, Hong Kong, Iceland, India, Ireland, Israel, Italy, Japan, Kazakhstan, Korea, Latvia, Lithuania, Luxembourg, Malaysia, Mexico, Moldova, Morocco, the Netherlands, Norway, Poland, Portugal, Romania, Singapore, Slovak Republic, Spain, Switzerland, Thailand, Tunisia, Ukraine, and the United Kingdom. The posting of the remaining two countries' DQAF metadata is pending on their review and approval by the respective national authorities.