What is the Full Form of SDDS?

The full form of SDDS is Special Data Dissemination System. The Special Data Dissemination System (SDDS) was developed in 1996 to assist IMF member countries with access to international financial markets or those considering doing so. Unlike the e-GDDS, whose dissemination criteria are recommendations for countries to follow, the SDDS requires countries to freely commit to following prescribed data disclosure requirements. A country’s SDDS subscription implies that it meets the criteria for “good statistical citizenship.”

SDDS History

According to the International Monetary Fund’s (IMF) “Annual Observance Report of the Special Data Dissemination Standard for 2018,” India failed to meet certain standards of the Special Data Dissemination Standard (SDDS).

• The IMF started the SDDS programme in 1996 to help members improve data transparency and provide financial market players with appropriate information to analyse individual nations’ economic circumstances.
• The IMF evaluates over 20 data categories to describe a nation’s economic health for this report, including national accounts, production indices, employment, and central government operations.
• On December 27, 1996, India joined the SDDS.
• India claimed that the noncompliance with IMF criteria was a one-time occurrence caused by technological flaws in the National Summary Data Page (NSDP) web page.

What is SDDS Plus?

The SDDS Plus is the most advanced level of the IMF Data Standards Initiatives. It was founded in 2012 to address data gaps revealed during the global financial crisis, with the goal of promoting domestic and global financial stability through data sharing and incorporating economies that play a prominent role in international capital markets. The SDDS Plus focuses on systemically important financial sectors that are critical to the international monetary system’s operation.

SDDS Plus is available to all SDDS members. It comprises extra standards for data categories that a government commits to completely implementing within five years of adhering to the SDDS Plus.

Also Read: Full form of PIO

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