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Argentina

Special Data Dissemination Standard

Summary
Argentina is a subscriber to the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS). The IMF's SDDS website discloses that Argentina meets SDDS specifications for coverage, periodicity, and timeliness of the data and for the dissemination of advance release calendars. The website also indicates that Argentina satisfies the conditions for access and quality for all data categories, except for the advance dissemination of a release calendar for population data. Several reports have praised the transparency and efficiency of the National Institute of Statistics and Censuses and its dissemination of Consumer Price index data.

    General Overview

    Argentina has been a subscriber to the International Monetary Fund´s (IMF's) Special Data Dissemination Standard (SDDS) since August 1996, Argentina's data coverage, periodicity, timeliness, integrity, and quality meet the SDDS requirements. However, as noted on the IMF's SDDS website, the country does not fully comply with the SDDS requirements on advance dissemination of release calendar for population data..
    The National Institute of Statistics and Censuses (INDEC) is the technical government agency that manages all the official statistics activities that take place in Argentina. According to the INDEC website, the creation and operation of the institute are governed by Law No. 17.662 and Decrees No. 3110 of 1970 and No. 1831 of 1993. The INDEC website notes that the National Statistics System integrates statistics provided at the national, provincial, and municipal levels. The INDEC provides all public agencies with the methodological norms for official statistics, whereas the sub-national agencies collect, enter, and process the data on their respective jurisdictions. The website of the Ministry of Economy and Production (MECON) discloses that it offers the broadest access to fiscal and external sector data. Argentina's Central Bank (BCRA) offers monetary data on its website.
    According to the World Bank 2006 report, since Argentina began its subscription to the SDDS in 1996 it has improved the quality of its official statistics, but there is room for improvement. Particularly, the World Bank suggests that the authorities undertake a universal household survey to get a more accurate picture of the situation in the rural sector. The report notes that the INDEC hopes to gain World Bank support in its efforts to strengthen its statistical system.
    Oxford Analytica's (OA) 2006 fiscal transparency report found that national-level public information on fiscal activity was accurate, but the same could not be said for provincial-level data. Harmonization of provincial data with national standards was needed. In addition, OA found that public access to updated data on the MECON website could be improved. OA also published a monetary report in 2006, which found that the BCRA website provided reliable, user-friendly data to the public. A broad range of sources - including the Economist and the writers Hodgson, Faries, and Fernandez - raised the alarm in 2007 regarding the reliability of Argentina's consumer price index (CPI) data. The INDEC website discloses that a new methodology for calculating the CPI has been adopted.


    The Principles

    Comprehensive economic and financial data, disseminated on a timely basis.

    According to the information provided on the IMF's SDDS website, Argentina fully complies with the dissemination of comprehensive economic and financial data on a timely basis. The website also reveals that Argentina has availed itself of the timeliness flexibility option for its public sector operations data and the analytical accounts of the banking sector. Given that there is no well-developed forward exchange rate market in Argentina, coverage of such data is not necessary.

    Ready and equal access to official statistics.

    According to the information on the IMF's SDDS website, Argentina complies with the requirement to disseminate advance release calendars (ARCs) and the simultaneous release of data to all interested parties for most data categories. The only exception is population data, for which there is no ARC posted on the SDDS website. Most of the ARCs can be accessed through the MECON and the INDEC websites. The data are delivered simultaneously to all interested parties mainly via the INDEC, BCRA, and MECON websites. An exception is the stock market share index data, which is provided by the National Securities Commission's website.

    Official statistics must have the confidence of their users. Transparency of its practices and procedures is a key factor.

    According to the IMF's SDDS website, Law No.17622 of 1968 on the INDEC regulates the integrity of the country's statistical information. This law stipulates that confidentiality must be maintained for data which is used only for statistical purposes, and such data cannot be disseminated in such a way so as to identify individual information. It also requires the identification of internal government access to data before its release and the identification of ministerial commentary. Finally, it requires the provision of information about revision and advance notice of major changes in methodology.

    The Association of Public and Private Banks of the Argentinean Republic states in a 2007 report that the INDEC has a reputation for reliable statistical information and has overcome recurrent political pressures. However, since January 2007, some events have damaged the INDEC's reputation, mainly regarding its CPI data. Several reports, including one appearing in the 2007 issue of the Economist, have raised concerns about the dismissal of employees under unclear circumstances and changes that had been made in the methodology used to calculate the CPI. However, as reported on the House of Representatives website, several laws are under congressional consideration which address these problems. One (draft law 0593 D-2007) requires an official explanation on the current situation of the INDEC. Other draft legislation seeks to further strengthen the independence and transparency of the INDEC. Some proposed laws address the INDEC's recruitment and appointment procedures. To address the CPI methodological concerns, a new methodology has been adopted that is based on the one used by the United States. The INDEC website discloses that the new methodology would replace the old one as of January 2008.

    A set of standards that deals with the coverage, periodicity and timeliness of data must also address the quality of statistics.

    According to the IMF's SDDS website, Argentina fully complies with the two elements of this principle: "dissemination of documentation on methodology and sources used in preparing statistics" and "dissemination of component detail, reconciliations with related data, and statistical frameworks that support statistical cross-checks and provide assurance of reasonableness for all data categories."

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    Sources of Assessment

    International Monetary Fund's Special Data Dissemination Standard website. Accessed on January 22, 2008. (IMF SDDS website)

    Relevant Organizations

    Center for Statistical Services - Centro Estadístico de Servicios (CES) (website in Spanish only)

    Central Bank of Argentina - Banco Central de la Republica Argentina (BCRA)

    Ministry of Economy and Production - Ministerio de Economia y Produccion (MECON) (website in Spanish only)

    National Institute of Statistics and Censuses - Instituto Nacional de Estadistica y Censos (INDEC)

    National Senate - Honorable Congreso de la Nación Argentina (website in Spanish only)



    Relevant Legislation/Regulation

    Legal Framework of the Official Statistics Law No. 17.622, 1968 - Marco Legal de las Estadísticas Oficiales Ley No. 17.622, 1968 (in Spanish only)

    Regulatory Dispositions of the Law No. 17.622, Decree No. 3110, 1970 - Disposiciones Reglamentarias de la Ley No. 17.622, Decreto 3110, 1970 (in Spanish only)

    Decree No. 1831, 1993 - Decreto No. 1831, 1993 (in Spanish only)



    Supplementary Sources

    Association of Public and Private Banks of the Argentinean Republic, "Carta Monetaria [Monetary Letter]," Buenos Aires: ABAPPRA, February 2007. Available from the Association of Public and Private Banks of the Argentinean Republic website. Accessed on October 23, 2007. (ABAPPRA 2007)

    Economist, "Cooking the Books," The Economist, February 8 2007. Magazine on line. Accessed on November 22, 2007. (Economist 2007)

    Faries, B., "Argentina's Fernandez Set for Election Win, Inflation (Update2)," Bloomberg, October 25 2007. Accessed on November 23, 2007. (Faries 2007)

    Hodgson, A., "Mounting Inflation in Argentina Threatens Business Environment," Euromonitor International, May 27 2007. Accessed on November 23, 2007. (Hodgson 2007)

    House of Representatives website. Last updated 24 October, 2007. Accessed on 24 October, 2007. (House of Representatives website)

    Fernández, D., "INDEC: Cuando los Economistas Tienen la Palabra [INDEC: When the Economists have Something to Say]," Economía 21, March 21 2007. Newspaper online, Accessed on November 23, 2007. (Fernández 2007)

    International Monetary Fund, "Argentina: 2005 Article IV Consultation--Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Argentina," Country Report No. 05/236, Washington, D.C.: IMF, July 2005. Available from International Monetary Fund website. Accessed on January 22, 2008. (IMF 2005)

    International Monetary Fund Disseminations Standard Bulletin Board, "Argentina: Annual Observance Report of the Special Data Dissemination Standard for 2006," IMF, 2006. Available from the International Monetary Fund's Special Data Dissemination Standard website. Accessed on November 22, 2007. (IMF 2007)

    International Monetary Fund's General data Dissemination system website. Accessed on 24 October, 2007. (IMF GDDS website)

    National Institute of Statistics and Censuses website. Last updated on October 23, 2007. Accessed on October 23, 2007. (INDEC website)

    Oxford Analytica, "Argentina Fiscal Transparency - Country Report 2006," Oxford: OA, December 2006. Available from California Public Employee Retirement System website. Accessed on November 23, 2007. (OA 2006a)

    Oxford Analytica, "Argentina Monetary Transparency - Country Report 2006," Oxford: OA, December 2006. Available from California Public Employee Retirement System website. Accessed on November 23, 2007. (OA 2006b)

    Take Care of the Indec website. Last updated July 2007. Accessed on October 23, 2007. (Take Care of the Indec website)

    World Bank, "Country Assistance Strategy for the Argentine Republic for the period 2006-2008," Report No. 34015-AR, WB, May 2006. Available from the World Bank website. Accessed on November 22, 2007. (WB 2006)
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