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Browse Profiles > Guatemala > Special Data Dissemination Standard |
| Score | Rank | |
| Standards Compliance Index | 7.50 out of 100 | 76 |
| Business Indicator Index | 9.15 out of 12 | 34 |
Guatemala|
Special Data Dissemination Standard
Guatemala is not a subscriber to the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS). However, it has participated in the less stringent General Data Dissemination System (GDDS) since 2004. In its 2005 "Report on the Observance of Standards and Codes," the IMF observed that most of the published statistics were neither entirely accurate nor reliable due to the paucity of source data, and identified shortcomings in national accounts and balance-of-payments data. The IMF concluded, however, that the legal framework for statistical activity in Guatemala is broadly adequate, and that institutions display a commitment to make further statistical progress and disseminate data through the Internet. In addition, the IMF advised that stricter public-sector implementation of the law requiring data requests is needed, and urged improvements in the methodological basis. General Overview The International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) website discloses that Guatemala is not a subscriber to the IMF's SDDS. However since 2004 Guatemala has participated in the less rigorous General Data Dissemination System (GDDS).The Principles
The IMF SDDS website discloses that Guatemala is not a subscriber. However, the GDDS website shows that Guatemala has participated in the General Data Dissemination System since 2004. The IMF's 2005 ROSC reports that Guatemala meets most GDDS recommendations, with those on periodicity met or exceeded across all data categories.
The IMF's SDDS website discloses that Guatemala is not a subscriber to the IMF's SDDS, but the IMF GDDS website shows that Guatemala has participated in the General Data Dissemination System since 2004.. In its 2005 ROSC, the IMF reports that efforts had been made to enhance the accessibility of macroeconomic data and all agencies had improved dissemination through the Internet. However, Guatemala had not yet provided advance release calendars. The IMF's 2005 ROSC report suggests that greater efforts are needed to release certain data simultaneously to all users and to present statistics in a way that facilitated easy use and proper interpretation.
The IMF SDDS website discloses that Guatemala is not a subscriber. However, the GDDS website shows that Guatemala has participated in the General Data Dissemination System since 2004. According to the IMF's 2005 ROSC, the legal framework for statistical activity is broadly adequate, and institutions display a commitment to disseminate macroeconomics statistics, largely through the Internet. Information provided on the IMF's GDDS website notes that the Organic Law establishes the functions of the CBG and the INE. The Bank must collect, compile, and disseminate official statistics under the law's amended terms and conditions; while the INE must implement the national statistical policy, as well as plan, direct, coordinate, and supervise the activities of the National Statistics System.
The IMF SDDS website discloses that Guatemala is not a subscriber. However, the GDDS website shows that Guatemala has participating in the General Data Dissemination System since 2004. The 2005 IMF ROSC notes that there is scope to improve the methodological basis and source data underpinning most datasets, as well as the mix and level of resources in a few cases. |
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Sources of Assessment International Monetary Fund's Special Data Dissemination Standard website. Accessed on July 11, 2007. (IMF SDDS website) International Monetary Fund's General Data Dissemination System website. Accessed on July 11, 2007. (IMF GDDS website) International Monetary Fund, "Guatemala: Report on the Observance of Standards and Codes - Data Module, Response by the Authorities, and Detailed Assessments Using the Data Quality Assessment Framework", Country Report No. 05/208, Washington D.C.: IMF, June 2005. Available from International Monetary Fund website. Accessed on July 11, 2006. (IMF 2005a) Relevant Organizations Central Bank of Guatemala - Banco Central de Guatemala (CBG) Ministry of Finance - Ministerio de Finanzas Publicas (MoF) (in Spanish only) National Institute of Statistics - Instituto Nacional de Estadisticas (NIS) (in Spanish only) Relevant Legislation/Regulation Organic Law of the Bank of Guatemala Decree No. 16, 2002 - Ley Organica del Banco de Guatemala Decreto No. 16, 2002 Organic Law of the National Institute of Statistics Decree Law No. 3/85 - Ley Organica del Instituto Nacional de Estadistica Decreto Ley No. 3/85 (in Spanish only) Law of Banks and Financial Groups Decree No. 19, 2002 - Ley de Bancos y Grupos Financieros Decreto No. 19, 2002 Civil Service Law Decree No. 1748, 1969 - Ley de Servicio Civil Decreto No. 1748, 1969 (in Spanish only) Penal Code of Guatemala Decree No. 17, 1973 - Codigo Penal de Guatemala Decreto 17, 1973 (in Spanish only) Supplementary Sources International Monetary Fund "Guatemala: 2005 Article IV Consultation--Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Guatemala", Country Report No.05/362, International Monetary Fund, October 2005. Available from International Monetary Fund website. Accessed on July 11, 2006. (IMF 2005b) |