The Special Data Dissemination Standard (SDDS) website of the International Monetary Fund (IMF) discloses that Mexico has subscribed to the Standard since 1996 and first met SDDS specifications in 2000. According to the website, Mexico meets nearly all SDDS specifications for the coverage, periodicity, and timeliness of data, and provides advance release calendars and summary methodologies for all applicable datasets. Mexico avails itself of timeliness flexibility options for both its general and central government operations data. However, the SDDS site notes that Mexico falls short with regard to SDDS requirements on integrity and quality of data. For example, changes in methodology are not always preceded by advance notices for several of the data categories, and there is no documentation on methodology provided for central government debt, balance of payment, or international investment position data. Similarly, the 2007 IMF Article IV Consultation report states that some work remains to be done regarding data dissemination, particularly in the area of timeliness in the reporting done by sub-national government operation and debt data and the consolidated statistics of the general government.

General Overview

In 2003, the International Monetary Fund (IMF) published what remains the most recent Data Module in its series of Reports on the Observance of Standards and Codes (ROSC) for Mexico. At the time, the IMF found Mexican statistics to be of good overall quality, but pointed out a number of areas that required improvement. These include extending coverage; providing greater access to information on methodology, techniques, and source data; and a clearer presentational format for the data. The report noted that, for the most part, Mexico employs internationally accepted concepts and definitions, but follows national standards for its government finance statistics, which diverge somewhat from the IMF standard. The IMF recommended full transition to international standards. The report further noted that, in addition to participating in the IMF's Special Data Dissemination Standard (SDDS), statistics producing agencies such as the National Institute of Statistics, Geography, and Information Technology (Instituto Nacional de Estadistica, Geografia e Informatica, or INEGI), the Central Bank of Mexico (Banco de México, or BdM), and the Secretariat of Finance and Public Credit (Secretaria de Hacienda y de Credito Publico, or SHCP) also publish statistical materials in print and online. The ROSC noted that Mexican authorities "maintain an open dissemination policy and make sufficient information available to the public in printed form and on the websites of the statistics-producing agencies" (p. 2). The main laws governing data dissemination in Mexico are the Law on Statistical and Geographical Information, the Federal Transparency and Access to Public Government Information Law, and the Law on the Bank of México

According to the IMF's SDDS website, Mexico has been a subscriber since 1996 and achieved compliance to the standards in 2000. According to the website, Mexico meets nearly all SDDS specifications for the coverage, periodicity, and timeliness of data, and provides advance release calendars and summary methodologies for nearly all applicable datasets. However, the SDDS site notes that changes in methodology are not always preceded by advance notices for several of the data categories and there is no documentation on methodology provided for central government debt, balance of payment, or international investment position data, but work is underway to address these issues.

According to the 2007 IMF Article IV Consultation, Mexico's "core data are adequate for surveillance" (p. 5). This is confirmed by the information available on the SDDS website, which discloses that, in many cases, Mexico exceeds periodicity and timeliness requirements. Nonetheless, the 2007 report states that improvements could still be made, and observes that there are ongoing efforts to address problem areas. For instance, the 2007 report notes that the transition to the Balance of Payments Manual, 5th edition (BPM5) is not yet complete, and coverage in the area of external debt statistics would be enhanced by including a projection of the total external debt service of commercial banks. The report further noted that "the authorities recently published Financial Soundness Indicators using the IMF's methodology for 2005 and 2006" adding that "it would be useful to update and publish such data on a regular basis" (p. 5). In addition, the IMF finds problems with the coverage of the informal sector and with the extensive use of "outdated coefficients" (p. 5). It hopes to help Mexico address these issues with a follow-up national accounts mission in 2008. For the area of fiscal data, the 2007 IMF report notes that there have been improvements to capture information (e.g., direct net costs of public investments and the interest costs of government liabilities) previously not recorded. More stringent reporting requirements have enhanced the transparency of the fiscal process. Finally, the report adds that "in light of the large share of public expenditure that is executed at the state and local government levels, it would be useful to develop consistent and timely reporting of sub-national government operations and debt, as well as consolidated general government statistics" (p. 6).

According to the 2006 Oxford Analytica (OA) report on fiscal policy, Mexico's 2006 Federal Law on Budget and Fiscal Responsibility, provides for greater public disclosure of the government procurement process, increased public access to financial management information, and greater transparency regarding public services. Implicated in the provisions of the Law is an expanded role for the Federal Institute for Public Information Access (IFAI), an organization created in 2002 by provisions of the Federal Law on Transparency and Access to Public Information. The new Law also changes reporting practices, once carried out only annually by the SHCP. Now, there is an established schedule of reporting dates on which information must be presented to the legislature.

The Principles

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

FC

The IMF's 2003 ROSC and SDDS website both disclose that Mexico meets the coverage, timeliness, and flexibility requirements of the standard, although Mexico does avail itself of timeliness flexibility options in both the general and central government operations categories. In many areas, Mexico exceeds SDDS timeliness requirements. These areas include national accounts data, labor market data, producer and consumer price indices, central government debt data, the analytical accounts of the central bank and the banking system, balance of payment data, merchandise trade, and international reserves. The SDDS website shows that, currently, periodicity requirements are also exceeded in the area of labor market data.

Ready and equal access to official statistics.

FC

According to the IMF's SDDS website, Mexico issues advance release calendars for all datasets. These are available on the SDDS website as well as on the websites of the relevant statistics-producing entities. In some cases they also are available in print form. The website also notes that data is subject to simultaneous release to all interested parties, generally via government websites. Press releases are also a vehicle by which data may be disseminated to the public.

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

CP

The IMF SDDS website discloses that the principle law governing statistical production in Mexico is the Law on Statistical and Geographical Information, which contains provisions designed to protect the confidentiality of data. According to the 2003 ROSC, "the laws, regulations, and decrees governing the compilation and dissemination of official statistics in Mexico are available to the public -- in printed and electronic form -- in Spanish and in English" (p. 6). Both the ROSC and the SDDS website state that there is no internal government access to data prior to their release to the public, and that the data is rarely accompanied by any ministerial commentary. In those few cases where commentary is included (central government operations and debt data, balance of payments data, analytical accounts of the central bank, and certain population data), the commentary is identified as such, according to the SDDS website. There are provisions made for revision of data, but changes in methodology are not always preceded by advance notices for several of the data categories.

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

CP

The IMF's 2003 ROSC reported that INEGI, the BdM, and the SHCP all provide information on their methodologies to the public, through print and online publications. In addition, the IMF's SDDS website discloses that there are summary methodologies available for every relevant dataset. The ROSC further notes that all three statistics-producing agencies provide public access to the components of their statistical products and offer data series as required by the SDDS. According to the ROSC, "this makes it possible to crosscheck data and verify the reasonableness of information reported" (p. 7). According to the SDDS website, currently there is no documentation on methodology provided for central government debt, balance of payment, or international investment position data, but work is underway to address these issues. Finally, the SDDS website discloses that the methodology used for the forward-looking indicators is available to the public on request.