Special Data Dissemination Standard (SDDS)

The SDDS serves to guide countries that have, or that might seek, access to international capital markets in the dissemination of economic and financial data to the public (March 1996).

Countries subscribing to the SDDS undertake to follow good statistical practices in four dimensions:

• data: coverage, periodicity and timeliness of the data disseminated;

• access by the public: dissemination of advance release calendars, and simultaneous release of the data;

• integrity: disclosing information on laws governing the compilation and release of the data, access to the data by other government officials prior to release, ministerial commentary accompanying the release of the data, revision policy, and advance notice of major changes in methodology; and

• quality: the dissemination of documentation on methodology and sources, and dissemination of detailed and other data that support statistical cross-checks.

Under the SDDS, data dissemination practices are prescribed for 20 data categories covering the real, fiscal, financial and external sectors, as well as population, and are posted on the IMF's Dissemination Standards Bulletin Board (DSBB; http://dsbb.imf.org). To date, 47 countries, representing a mix of industrial, emerging market, and transition economies, have voluntarily subscribed to the SDDS. Subscribers are also required by the end of 1999 to establish an Internet site containing the actual data disseminated under the SDDS, called a National Summary Data Page (NSDP), that is hyper-linked to the DSBB. Full details on subscribers data dissemination practices or metadata are posted on the DSBB.

The SDDS has led to wider availability and enhanced timeliness of published data and the greater use of advance release calendars. In light of the recent financial crises, the IMF also has taken steps to strengthen the SDDS, particularly in the areas of international reserves and external debt. The new reserves template is more comprehensive than the existing prescription, with subscribers having until March 31, 2000 to meet the new requirements. The establishment of a new data category for external debt is underway, with details to be worked out in consultation with subscribers, other countries, data users and other international organizations. The establishment of a new data category for external debt is underway, with details to be worked out in consultation with subscribers, other countries, data users and other international organisations.