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Central Statistical Organization to hold a detailed meeting to discuss the possibility of Iraq's accession to the special publishing system ... DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Central Statistical Organization to hold a detailed meeting to discuss the possibility of Iraq's accession to the special publishing system ... Empty Central Statistical Organization to hold a detailed meeting to discuss the possibility of Iraq's accession to the special publishing system ...

Post by claud39 on Wed Jul 24, 2019 7:17 am

Central Statistical Organization to hold a detailed meeting to discuss the possibility of Iraq's accession to the special publishing system ...




2019-07-24





Central Statistical Organization to hold a detailed meeting to discuss the possibility of Iraq's accession to the special publishing system ... 156395190261167bf5ae0fda3f1cbe658a2d52d657--gdds









The Central Statistical Organization holds a detailed meeting to discuss the possibility of Iraq's accession to the special publication system (GDDS)

In the presence of the Director General of Administrative Affairs and the National Coordinator of the General Publishing System (GDDS) Mr. Fakhri Hamid Jaber, the Central Statistical Organization held a detailed meeting to discuss the possibility of Iraq joining the special publishing system in the International Monetary Fund. The meeting was attended by Ms. Buthaina Hatem Abboud, From the Ministry of Oil, Mr. Mohamed Qutaiba of securities and Ms. Manal Mahdi Fahd from the Ministry of Finance. 

Mr. Fakhri Hameed Jaber, the national coordinator of the system, reviewed the date of Iraq's accession to GDDS. The importance of that accession in 2010 was to improve the scope, quality and timeliness of available national data and to improve the information focused on international financial markets and overall economic policy assessments As a result, he facilitated the decision-making process in the public and private sectors. He also discussed with national members the national indicators through which to join the system. Timings required.

For her part, Ms. Nada Hussein, the regime's rapporteur, reviewed the importance of joining the GDDS and clarifying the possibility of joining the special system in light of the availability of the indicators required by the IMF in exchange for the support of the Fund to the countries regulating this system, Participating countries in order to enhance the credibility of the system for policy makers, participants and the public.




https://mop.gov.iq/news/view/details?id=284
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Central Statistical Organization to hold a detailed meeting to discuss the possibility of Iraq's accession to the special publishing system ... Empty Re: Central Statistical Organization to hold a detailed meeting to discuss the possibility of Iraq's accession to the special publishing system ...

Post by claud39 on Wed Jul 24, 2019 7:21 am

TECHNICAL SHEET

IMF standards for data dissemination

March 15, 2016
The IMF has taken steps to improve the transparency and openness of member countries, including through the development of voluntary standards for the dissemination of economic and financial data. The Special Data Dissemination Standard (SDDS) was created in 1996 to help member countries - who have or might seek access to international capital markets - to provide economic and financial data to the public. The General Data Dissemination System (GDDS) was established in 1997 for member countries with less developed statistical systems, and serves as a framework for assessing necessary data improvements and setting priorities. In 2012, the NSDD Plus was created. This formula constitutes a higher level of IMF statistical standards initiatives to help fill the gaps highlighted by the global financial crisis. In 2015, the enhanced version of the GDDS (a-GDDS) replaced the old version. More than 97 percent of IMF member countries subscribe to gDDS-a, SDDS or SDDS Plus.

Data dissemination standards

Data dissemination standards help to increase the supply of current and comprehensive statistics, which promotes sound macroeconomic policies and the efficient functioning of financial markets.

Requirements of the GDDS-a

The legal text of the GDDS-a presents the main changes made to the enhanced version; this text is available on the Broadcast Standards Bulletin Board (TAND).
IMF members participating in the GDDS-a must:

  • commit to using the GDDS-a as a framework for establishing their statistics;
  • appoint a national coordinator;
  • describe their statistical compilation and dissemination practices, and their data improvement plans, for posting on the TAND.

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The GDDS-a was designed to help acceding countries improve the transparency of their statistics and governance through the publication of information essential for the analysis of macroeconomic conditions. This system provides a clear roadmap for improving data dissemination standards at a pace consistent with evolving statistical capabilities. Emphasis is placed on publishing data through a standardized platform, in order to make data sharing more efficient but also to identify serious gaps in setting priorities in technical assistance and assistance from stakeholders. donors. Many countries are participating in the GDDS-a to subscribe to the SDDS.

SDDS requirements

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  • The SDDS is a benchmark for the dissemination of macroeconomic statistics. Subscribing to the SDDS indicates that a country meets the test of "statistical civility". The Subscribers and Users 'Guide to the SDDS , available on the IMF's TAND , details subscribers' commitments. Countries that subscribe to the SDDS agree to follow good practices in four areas: coverage, frequency and timeliness of data; public access to these data; the integrity of the data; the quality of the data.
  • Subscribing countries undertake to:
  • Occasionally disseminate the data required by the SDDS, according to the prescribed periodicity and timeliness, on a national website - the National Summary Data Page (NRDP) - hyperlinked to TAND . (For a complete list of UTPs, click here .);
  • Provide the IMF with a pre-release schedule (CDP) indicating release dates for the current month and at least the next three months for each of the data categories to be posted on the TAND;
  • Provide detailed information on their statistical practices, or metadata, for dissemination on the TAND. The metadata rigorously follows the format of the IMF's Data Quality Assessment Framework (DQAF) to judge the quality of economic and financial data. For more information on the CEQD, consult the Data Quality Reference Site ;
  • Certify the accuracy of the metadata each year;
  • Using standard electronic data transmission procedures to better track how the SDDS is being observed is also among the commitments required of countries that subscribe to the SDDS.

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Follow-up of the observation of the SDDS

The IMF reviews how the SDDS is observed and publishes annual reports on it. These establish the extent to which the subscribing countries are fulfilling their commitments under the SDDS. They also include, where appropriate, a link to the data modules of the Compliance Reports on Codes and Standards, and refer to the assessment of data quality by staff in the latest reports under Article IV. Flagrant and persistent non-compliance with the NSDD triggers an action. The IMF Executive Board approved the procedures to be followed in the event of non-compliance and in February 2012 a more structured timetable for these procedures was adopted.

The NSDD Plus

The SDDS Plus is the highest level of IMF data dissemination initiatives and builds on progress achieved through the SDDS. The SDDS Plus is available to all countries subscribing to the SDDS, although it targets those countries whose financial sector is systemically important. In addition to the requirements of the SDDS, the SDDS Plus focuses on better dissemination of data to improve transparency and strengthen the international financial system.
The SDDS Plus has nine additional categories of data, and adhering countries commit to fully comply with the requirements within five years of the date of accession. Prior to this date, countries can join by respecting at least five of the nine categories of additional data. These categories cover sectoral balance sheets; government operations and gross debt; the situation of other financial companies; financial soundness indicators; debt securities; and participation in the Coordinated Survey of Portfolio Investments, the Coordinated Direct Investment Survey and the Currency Composition Survey of Foreign Exchange Reserves. The Guide to SDDS Plus Guide for Adherents and Users) provides further details on the requirements of this standard.
The GDDS has 110 participants, the NSDD-a: 66, and the SDDS Plus: 8.




https://www.imf.org/external/np/exr/facts/fre/dataf.htm
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