General Data Dissemination System

I. Background

In the aftermath of the international financial crisis of the 1990s, there was recognition that the ready availability to the public of comprehensive and timely economic and financial data could facilitate the formulation and implementation of sound macroeconomic policies and investment decisions. These, in turn, could reduce the frequency and moderate the severity of future episodes of unusual turbulence in financial markets. In January 1998, a document entitled The General Data Dissemination System, referred to asthe “GDDS Document,” was issued by the IMF’s Statistics Department. It continues to be the primary reference source on what the GDDSis and how it should be implemented. This documentis periodically updated to reflect changes in theGDDS.

In May 2000, the IMF launched a GDDS site (http://dsbb.imf.org) on the Dissemination Standards Bulletin Board (DSBB) that informs the public of each GDDS participating member country, its current statistical practices, and its plans for development of the statistical system within the GDDS framework.

II. Main objectives of the GDDS

As a structured process, the GDDS aims to address statistical needs. The increasing integration of economic and financial activity across countries has intensified demand for a wide range of economic and other data to underpin the task of macroeconomic management, which itself has become far more complex over time.

Accordingly, the GDDS addresses three key areas—the quality of data; development plans for statistical systems; and the dissemination of data. Together, these three priority areas constitute a solid basis on which to formulate long-run policies for statistical development.

Quality is used in the GDDS in two different settings: as a primary goal of the system (referred to as data quality) and as a specific dimension of the system. The primary objective of the system relates to the first meaning, which is as an attribute of statistical data. The primary goal of the GDDS is to ensure data quality in statistical systems, developed and maintained in ways that permit statistics to be compiled and disseminated in accordance with principles and practices that ensure high standards of excellence. Thus, the system is grounded on the application of sound methodological principles, the adoption of rigorous compilation practices, and the use of procedures that ensure professionalism and objectivity as well as adequate dissemination of statistics.

Development plansin the GDDS focus on viewing the statistical system in its entirety. In this way, the task of establishing priorities is simplified, and resource allocation becomes more efficient. The development plans in the GDDS cover (i) a diagnosis of the current situation and the formulation of a strategic vision of future directions; (ii) the elaboration of a detailed action plan that identifies all the resources that are required to achieve the desired objectives; and (iii) the tracking of progress under these plans.

Dissemination of datais the ultimate objective of any statistical system. Accordingly, the GDDS attaches special importance to the procedures used to disseminate data. A major area of emphasis is the choice of appropriate and impartial methods of dissemination.

IV. Main characteristics of the GDDS

Participation in the GDDS is voluntary. It requires that a country undertake three actions relative to the system, and participation depends on completion of these actions. These actions are:

• Commitment to using the GDDS as a framework for the development of national systems for the compilation and dissemination of economic, financial, and socio-demographic data;
• Designation of a country coordinator to work with IMF staff; and
• Preparation of metadata, to be disseminated by the IMF on the DSBB, on (a) current statistical compilation and dissemination practices and (b) plans for short- and medium-term improvements in each of the four dimensions of the system.

Because the structures of statistical systems differ considerably, the guidelines that all countries should follow regarding the methods and modalities relating to all aspects of participation are flexible. As a general rule, however, the following considerations deserve attention.

V. Key operational features of the GDDS

Commitment to use the GDDS as a framework for statistical development. This continuing process begins at the commencement of participation. Participating countries will find it helpful to focus on the range of activities that will be required to ensure that the process runs smoothly. To facilitate this process, the GDDS calls for the development of plans for improvements in data compilation and dissemination practices and for the posting of metadata describing these plans on the DSBB.

Designation of a country coordinator. The coordinator serves as a liaison between the member country and the IMF staff on all aspects of participation in, and implementation of, the GDDS.

Preparation of metadata on current practices. The descriptions of current practices and plans would correspond to each of the objectives for the data, quality, access, and integrity dimensions. A number of agencies and units will almost certainly need to be involved in this important initial step of participation in the GDDS. It is therefore requested that a standard format be used in the preparation of metadata that allows their electronic communication to the IMF.

Development of short- and medium-term plans for the development of the statistical system. The development of plans shouldbegin with a strategic vision of the evolution ofa country’s statistical system over the longer run.This vision can form the basis for the elaborationof the medium-term plans. Once formulated, themedium-term plans can be used as the basis forpreparing the short-term plans. The metadata to be provided for posting on the DSBB should describe these short- and medium- term plans.

Interagency coordination. Coordination among the concerned agencies and units is a critical element in all aspects of GDDS participation, and a participating country will need to establish effective mechanisms to ensure coordination among those involved in statistical activities. Such coordination is of critical importance for formulating a strategic vision of the country’s statistical system, identifying priority areas of action, and ensuring the maximum degree of consistency among data sets.

Country coordinator. The emphasis on the role of the coordinator derives from the fact that participation in the GDDS involves a long-term commitment to achieving improvements in data quality, including data dissemination practices. Progress in these areas requires effective coordination among statistical agencies within the country and with the IMF. This coordinated approach also extends to relations with other multilateral and bilateral providers of technical assistance in statistics. A principal role of the GDDS coordinator is to act as the main communicator with IMF staff on all issues relating to participation and implementation of the GDDS. Among the key tasks to be performed during this phase are (i) ensuring that officials of all concerned agencies are fully familiar with requirements for the preparation of metadata and other aspects of participation; (ii) informing the IMF staff that the country has reached the point at which it can work intensively on preparation of metadata; (iii) communicating with IMF staff on technical issues; (iv) facilitating the work with IMF staff on preparing metadata; and (v) assisting in the finalization of metadata by, among other things, facilitating communication with and among specialists in the data-producing agencies.

A more detailed description of the characteristics and key operational features of the GDDS can be found in the Quick GDDS Guide for Agencies Compiling Official Statistics in Suriname, which can be accessed on this website.

VI. Structure of GDDS metadata

The metadata is organized following the structure of the IMF’s Data Quality Assessment Framework, which covers the various quality aspects of data collection, processing, and dissemination. The description of the metadata is organized in a cascading structure that progresses from the abstract/general to the more concrete/specific details. The first level covers the prerequisites of quality and five dimensions of quality; assurances of integrity, methodological soundness, accuracy and reliability, serviceability, and accessibility. For each of these prerequisites and five dimensions, there are elements, which are described in the table below:

VII. Suriname and the GDDS

Suriname has participated in the GDDS since 2004, when the metadata was first posted on the Data Standards Bulletin Board of the IMF (www.dsbb.imf.org). The metadata has been updated and is now posted also on the CBvS website. There is also a National Summary Data Page (NSDP), which provides users with access to the metadata for the GDDS variables that are applicable to Suriname. For most of these variables, the NSDP will also provide a hyperlink to a data base for the respective variable, maintained by the relevant compiling agency. Ongoing efforts by all agencies to expand the coverage of the metadata and increase the data available through the hyperlinks, will allow Suriname to meet all the recommendations of the GDDS in the near future.

Metadata for the following variables is posted on this website:

1. Financial sector

Metadata was completed for all the recommended variables of the financial sector, with the exception of the stock price index, which is not relevant for Suriname:

• Central Bank of Suriname (Institutional table)
• Central bank aggregates
• Depository corporations survey
• Interest rates

2. External Sector

Metadata was developed for:

• balance of payments
• international reserves
• exchange rates

Suriname does not compile an international investment position (IIP), which is encouraged by the GDDS. The metadata for external debt and debt service scheduled was not completed because the only external debt registered in Suriname belongs to the government, and this concept is covered in the template on government debt within the fiscal sector.

3. Fiscal sector

In close collaboration with the MOF and Suriname Debt Management Office (SDMO), the metadata for the following variables was completed:

• Ministry of Finance (Institutional table)
• Operations of the Central Government
• Government debt

The template for general government and public sector operations was not completed because Suriname does not compile data for the comprehensive accounts of the public sector. Also the concept of general government in Suriname is the same as central government, given the lack of decentralization of local governments.

4. Real Sector

Metadata for the following real sector variables are being compiled by the General Bureau of Statistics and will be posted on this website in the near future:

• General Bureau of Statistics (Institutional table)
• National accounts
• Consumer price index
• Merchandise trade
• Employment
• Unemployment
• Wages/salaries