Browse Profiles > Morocco > Special Data Dissemination Standard
  Score Rank
Standards Compliance Index 32.50 out of 100 53
Business Indicator Index 5.90 out of 12 60
Morocco

Special Data Dissemination Standard

Summary
A 2007 Annual Observance report by the International Monetary Fund (IMF) notes that Morocco met all the SDDS requirements at the time of subscription in 2005. According to the most recent information on the IMF's SDDS website, Morocco meets the SDDS requirements for coverage for all data categories. However, it takes the periodicity and timeliness flexibility options for production index data, and the timeliness flexibility option for general government operations data. According to the 2007 report by the IMF, updates of advance release calendars are timely. Data provided on the IMF's SDDS website also indicates that Morocco meets the SDDS access dimensions, but falls short for certain data categories in terms of SDDS integrity and quality requirements. Nonetheless the IMF's 2006 Article IV Consultation report on Morocco notes that data provided to the IMF is sufficient for surveillance purposes.

    General Overview

    A 2007 Annual Observance report by the International Monetary Fund (IMF) observes that "Morocco subscribed to the SDDS on December 15, 2005 and met all the SDDS requirements at the time of subscription" (p. 4). According to the IMF SDDS website, although Morocco meets SDDS requirements for coverage for all data categories; it does take the flexibility option in terms of periodicity and timeliness for production index and in terms of timeliness for general government operations. According to the IMF's 2007 report, updates of advance release calendars are timely.
    The 2006 IMF Article IV Consultation Report on Morocco states that, "Morocco's economic data base is sufficient for conducting effective surveillance" (p. 23). According to the 2003 IMF report, the agencies responsible for publishing macro-economic statistics are the Statistics Directorate (DS) in the Ministry of Forecasting and Planning; the Treasury and External Financing Directorate (DTFE) in the Ministry of Finance and Privatization; Bank Al-Maghrib; and the Foreign Exchange Office (OC). The 2003 IMF report states that "the DS is responsible for producing the national accounts and price statistics. Government finance statistics are produced by the DTFE. Bank Al-Maghrib produces the monetary statistics, and the OC produces the balance of payments statistics" (p. 6). The IMF SDDS website discloses that Decree No. 2-75-463 of 10 Shaban 1395 A.H. of 1975, the Royal Decree-Law No. 370-67 of 1968, and the Banking Law of 1993 govern the collections and production of statistics in Morocco.


    The Principles

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

    According to the IMF's SDDS website, Morocco meets the coverage, periodicity, and timeliness requirements of the Special Data Dissemination Standard (SDDS). Nonetheless the website also indicates that Morocco avails of the flexibility option in terms of periodicity and timeliness for the production index and in terms of timeliness for general government data.

    Ready and equal access to official statistics.

    Morocco meets SDDS requirements for advance release calendars for all data categories, and data are released simultaneously to all interested users. Depending on the data set, data are available either on Bank Al-Maghrib's website or the Ministry of Finance website (IMF SDDS website).

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

    The IMF SDDS website discloses that the dissemination of the terms and conditions under which official statistics are produced are clear for most data categories, but adds that, for several data points there is no clear statement relating to the confidentiality of individually identifiable information. Internal government access to data prior to release and ministerial commentary are identified in all data categories except the Share Price Index, for which there is no information reported on the IMF's SDDS website. The website adds that revisions to the data are provided, but that advance notice for changes in methodology is lacking for several data categories.

    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, summary methodologies are provided for all data categories. However detailed information as to the dissemination of documentation on methodology and sources are not provided for General Government Operations, Central Government Operations, and Analytical Accounts of the Banking Sector. Furthermore, no information on component detail, reconciliations with related data, and cross checks is available for Stock Market and Exchange Rate data.

    Jump to other standards


    Sources of Assessment

    International Monetary Fund, "Morocco: Annual Observance Report of the Special Data Dissemination Standard for 2006," 2007. Available from International Monetary Fund website. Accessed on September 5, 2007. (IMF 2007)

    International Monetary Fund's Special Data Dissemination Standard website. Accessed on September 5, 2007. (IMF SDDS website)

    Relevant Organizations

    Statistics Directorate - Direction de la Statistique (DS)

    Treasury and External Financing Directorate of the Ministry of Finance and Privatization - Direction du Trésor et des Finances Extérieures au Ministère des Finances et de la Privatisation (DTFE)

    Central Bank of Morocco - Bank Al-Maghrib (BAM)

    Foreign Exchange Office (OC)

    Statistical Research Coordinating Committee (COCOES)



    Relevant Legislation/Regulation

    Decree No. 2-75-463 of 10 Shaban 1395 A.H., August 1975

    Royal Decree-Law No. 370-67, 1968

    Statistics Law No. 2 .911 - La Loi Statistique No. 2 .911, 1968

    Law Related to the Activities of Credit Institutions and their Supervision No.1-93-147 - Loi relatif a l'exercise de l'activite des establissements de credit et de leur controle No. 1-93-147, 1993 (Banking Law) (in French only)



    Supplementary Sources

    International Monetary Fund, "Morocco: 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. 03/92, Washington D.C.: IMF, April 2003. Available from International Monetary Fund website, Accessed on September 5, 2007. (IMF 2003)

    International Monetary Fund, "Morocco: 2006 Article IV Consultation--Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Morocco," Country Report No. 06/413, Washington D.C.: IMF, November 2006. Available from International Monetary Fund website. Accessed on September 5, 2007. (IMF 2006)
    ©  Copyright 2008 Financial Standards Foundation. All Rights Reserved. Terms of Use | Contact