Quarterly Update on the Special Data Dissemination Standard
Third Quarter 2006
December 5, 2006Observance Status
As of the end of the third quarter of 2006, 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 third quarter of 2006. Compared with the same quarter in 2005 and the second quarter of 2006, the timeliness of the third quarter of 2006 reporting improved for data that are disseminated on a quarterly basis, while data disseminated on a monthly and annual basis decreased due to delays in some data categories under the fiscal (central government operations and general government operations) and external sectors (official reserves, reserves template, merchandise trade, and international investment position).
DQAF Conversion of Metadata
After the Sixth Review of the IMF's Data Standards Initiatives, the Executive Board of the International Monetary Fund agreed that IMF staff should undertake reformatting the SDDS and General Data Dissemination System (GDDS) metadata into the structure of the Data Quality Assessment Framework (DQAF). The staff began conversion of metadata on the DSBB to the DQAF format in March 2006 and expects to complete conversion for all SDDS subscribers during the first quarter of 2007. At this report, the staff had converted the metadata for forty-two countries, and DQAF metadata for twenty countries have been posted on the DSBB. These countries are: Denmark, Finland, France, Germany, Greece, Ireland, Israel, Italy, Japan, Lithuania, Malaysia, Mexico, Moldova, Netherlands, Norway, Poland, Portugal, Slovak Republic, Spain, and the United Kingdom. Posting the remaining 22 countries' DQAF metadata is pending their review and approval from the respective national authorities.
Recent and Upcoming SDDS Coordinators' Seminars
European Region. The IMF Statistics Department conducted a regional seminar on the IMF's Data Standards Initiatives in Frankfurt, Germany, during October 17–20, 2006. The seminar was hosted by the European Central Bank (ECB) and attended by 30 SDDS coordinators or their representatives from 28 countries in Europe and two country coordinators for the GDDS from the region. The seminar reviewed recent developments and future work programs of the SDDS. Four representatives from the ECB and one from Eurostat also participated.
The topics discussed at the seminar included: (1) electronic monitoring of countries' observance of the SDDS; (2) preparation of annual reports showing countries' observance of the SDDS; (3) the forthcoming 2006 SDDS Guide; (4) presentation of the SDDS/GDDS metadata in the DQAF; and (5) prospective new ways of reporting data on the NSDP using the Statistical Data and Metadata eXchange (SDMX) protocol (see http://www.sdmx.org).
Asia and Pacific Region. The next seminar on IMF Data Standards Initiatives will be conducted by the IMF Statistics Department and hosted by the Korea National Statistical Office in Daejeon, Korea, during December 11–15, 2006. The seminar will bring together national coordinators for the SDDS and the GDDS from Asia and the Pacific.
The seminar will cover substantive and operational enhancements of the SDDS and the GDDS, as endorsed by the IMF Executive Board at the Sixth Review of the IMF's Data Standards Initiatives.