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The economic turbulence of the last
decade underscored the role that
information deficiencies can play in
contributing to market turmoil. In
response, the IMF developed the
to
provide guidance on the dissemination
of economic and financial data to
countries that have, or might seek,
access to international capital
markets.
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 data by other government
officials prior to release,
ministerial commentary accompanying
released data, revision policy, and
advance notice of major changes in
methodology; and
- Quality: the dissemination
of documentation on methodology and
sources, and of other data that
support statistical cross
checks.
Reporting in accordance with the SDDS
has been a cooperative interagency
process, involving the Departments of
Treasury, Commerce, and Labor, as well
as the Federal Reserve Board.
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