On October 28, Paraguay joined the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS), becoming the 49th country to do so. This move is anticipated to enhance Paraguay's data compilation and dissemination capabilities, support macroeconomic policy-making, bolster market confidence in its institutional capacity, and contribute to economic and financial stability.
This achievement builds on Paraguay's performance in the IMF's Enhanced General Data Dissemination System (e-GDDS) since 2017 and sets a benchmark for other countries.
Bert Kroese, Chief Statistician and Data Officer, and Director of the IMF’s Statistics Department, praised this development. "I congratulate the authorities on graduating from the e-GDDS and advancing to the SDDS. It reflects Paraguay’s strong commitment to transparency and is a significant step forward in complying with internationally accepted best practices in data dissemination."
Mr. Kroese added that subscribing to the SDDS benefits Paraguay by marking a milestone in the IMF's commitment to assisting member countries with capacity development.
The SDDS was established by the IMF in March 1996 to guide members in disseminating economic and financial data publicly. While subscription is voluntary, it requires members to adhere to standards and publish metadata about their data dissemination practices.
The Tenth Review of the IMF Data Standards Initiatives, concluded in February 2022, highlighted these initiatives' role since the mid-1990s in promoting data transparency as a global public good. The review emphasized supporting e-GDDS countries' progression toward SDDS compliance.
Paraguay's National Summary Data Page includes SDDS data categories. Comprehensive documentation on related statistical practices is available at the IMF’s Dissemination Standards Bulletin Board (DSBB).
The Data Standards Initiatives also encompass SDDS Plus alongside SDDS and e-GDDS. Further information can be found at https://dsbb.imf.org.