Morocco to be admitted to IMF Data Dissemination Standards in October

Morocco will be admitted to the International Monetary Fund (IMF) Data Dissemination Standards in October, announced Monday Moroccan High Commissioner for Planning (HCP), Ahmed Lahlimi.

Lahlimi noted the IMF evaluation mission concluded that the kingdom meets the necessary conditions to join the Data Dissemination Standards.

This move is a recognition to the national statistics data reliability and will consolidate the image of Morocco as a country of democracy where managing statistics data enjoys independence, reliability and transparency in line with international standards, he said.

Data dissemination standards help enhance the availability of timely and comprehensive statistics, which contributes to the pursuit of sound macroeconomic policies.

The standards for data dissemination consist of two tiers. The first is called the Special Data Dissemination Standard (SDDS). It was established in 1996 to guide countries that have access, or might seek access, to the international capital markets.

The second tier, the General Data Dissemination System (GDDS), was established in 1997 to help countries provide more reliable data. It is open to all IMF members. Importantly, the GDDS is focused on improving statistical systems, whereas the SDDS focuses on commitments to data dissemination standards in countries that already meet high data quality standards.

HCP conducts studies to determine the medium-term national macroeconomic policy and to elaborate the explorative and forecasting economic budget document. It adopts a universal and coherent process of forecasting the short-term main economic aggregates and constitutes the most appropriate mechanism to elaborate the economic and financial policy of the State.