Sri Lanka Subscribes to the IMF’s Special Data Dissemination Standard
“Sri Lanka’s subscription to the SDDS represents a major step forward for official statistics in the country and for data users,” said Mr. Louis Marc Ducharme, Director of the IMF’s Statistics Department. “The subscription to the standard underscores Sri Lanka’s strong commitment to transparency, as well as the adoption of internationally accepted best practices in statistics,” he added.
“Sri Lanka has been working with the IMF to improve the country’s macroeconomic statistics to internationally accepted levels. Sri Lanka’s subscription to the SDDS is another landmark in its collaboration with the IMF in improving quality, transparency and timeliness of our statistics,” said Mr. Arjuna Mahendran, Governor of the Central Bank of Sri Lanka. “We believe that this is essential for a better understanding of the Sri Lankan economy by investors, and we are committed to continue working with the IMF towards strengthening our statistical systems further,” he added.
The SDDS, established by the IMF in March 1996, is intended to guide members in the provision of economic and financial data to the public. Subscription to the SDDS enhances the availability of timely statistics, thereby contributing to sound macroeconomic policies and the more efficient functioning of financial markets. The SDDS identifies four dimensions of data dissemination—data coverage, periodicity, and timeliness; access by the public; the integrity of the data; and data quality. Although voluntary, a subscribing member commits to observe the standard and to provide information (metadata) to the IMF about its data dissemination practices. This information is made publicly available on the IMF's Dissemination Standards Bulletin Board (DSBB).
The DSBB now provides comprehensive documentation in English on the statistical practices of Sri Lanka for SDDS data categories, hyperlinked to country data included in the National Summary Data Page, maintained by the Central Bank of Sri Lanka.