Special Data Dissemination Standard (SDDS)

Origin and Purpose:
International Monetary Fund ( IMF) launched  the " Special Data Dissemination Standard (SDDS)"  in 1996,  which represents a framework for  disseminating of statistical data by providing a number of indicators with specific specifications and deadlines, in order to improve the coverage and scope of available national data , data quality and timeliness to  inform the public and improve accessing data that based on international financial markets, operations and evaluations of economic policies in general, and thus facilitate decision-making process in both public and private sectors.

The subscription to SDDS is voluntary for countries, but it should be noted that subscribed countries to SDDS should abide to some of inclusive practices of data dissemination including , time of publishing and periodicity, as well as to developing plans to ensure improving the quality of their statistics, and a national coordinator would be assumed to coordinate this work in the country.

The need  to developing standards for data dissemination emerged during the world financial crisis in mid-nineties, where the lack and weakness of the information and statistics contributed to the occurrence of these crisis.

Indicators of SDDS:
SDDS includes 22 Indicators and they are divided into four economic sectors: the Real Sector, where  GDP is the most important indicator of this sector.  Fiscal Sector, where the general government operations are the most important indicators of this sector, The Financial Sector, where the depository corporations survey is the most important indicators of this sector.  The External Sector where the balance of payments and the international investment position are the most important indicators in this sector.

Importance of SDDS:
• Promoting the availability and provision of an integrated and comprehensive data in terms of (coverage, periodicity and timeliness of publication).
• Guiding countries that  have access to capital markets or those seeking access to SDDS that will allow users of data in general, and participants/investors in financial markets in particular, to accessing sufficient information to assess economic situation in their countries.

Goals of SDDS:
• Enhancing  provisions and availability of comprehensive statistics.
• Facilitating efforts of countries to pursue sound macroeconomic policies and improving functioning of financial markets.
• Assisting in  preventing financial crisis or mitigating them through the promotion of accessing to necessary information for policy makers and participants in international capital markets.

How to join SDDS:
• A formal adoption of  SDDS as framework for the development of official statistics by the government of a concerned country.
• Appointing a national coordinator of SDDS as an administrator of main contacts with IMF on issues related to SDDS as well as coordination with various institutions producing statistics within the country to meet the requirements of the SDDS.
• Publishing a National  summary Data Page (NSDP) on the web page of the concerned institution which is responsible for coordination and communication with the International Monetary Fund.
• Preparing and publishing Advance Release Calendars (ARC) to be provided, in advance, to IMF to be published by IMF website on a regular basis.
• Developing metadata of indicators and disseminating them on the website of the International Monetary Fund, and to be updated periodically.

Justifications for joining SDDS:
• keeping up with developments on the quality of statistical data in terms of coverage, periodicity and timeliness.
• Providing economic and financial statistical data for decision and policy-making.
• Providing statistical data for international comparisons and compatibilities.
• Strengthening role of  member countries in the international statistical map and strengthening its membership in the International Monetary Fund.
• Promoting the principle of transparency in published economic and financial data in member countries.

SDDS reflections on the Member countries:
• Assisting countries in strengthening and developing statistics and mechanisms of disseminating data through the development of transparency and availability of data of financial and economic status to the public and the concerned.
• Strengthening role and importance of  statistical data on local and international levels.
• Expanding of accesses and interests in and the use of data and statistical indicators, both at the local or international levels, through disseminating data on IMF website and linked pages and websites of the member country.
• Defining  the member countries  potentials and possibilities of foreign investment through the dissemination of data related to indebtedness, expenditures and International Investment Position (IIP).
Dimensions of SDDS include:
• Data: coverage, periodicity, and timeliness ( time of publishing and releasing the final findings).
• Access by the public
• Integrity of data.
• Data quality.

1. SDDS comprises four key economic sectors including a number of indicators, namely:
1. The Real Sector indicators include:
1 - National Accounts (GDP).
2 - Employment.
3 - Unemployment.
4 - Wages.
5 - Production Index.
6 - Consumer Price Index.
7 - Producer Price Index.
8- Population.

2.  Fiscal Sector include:
1 – General Government Operations or Public sector Operations.
2 - Central Government Operations.
3 - Central Government Debt.

3. The Financial Sector indicators include:
1 - Depository Corporations Survey.
2 - Central Bank Survey.
3 - Interest Rates.
4 - Stock Market: Share Price Index.

4. External Sector indicators include:
1 - Balance of Payments.
2 - Merchandise Trade.
3 - External Debt.
4 - Official Reserve Assets.
5 - Data Template on International Reserves and Foreign Currency Liquidity.
6 - International Investment Position.
7 - Exchange Rates.

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