NSCB Resolution No. 1
Series of 1997

RATIFYING THE PHILIPPINE GOVERNMENT SUBSCRIPTION TO THE SPECIAL DATA DISSEMINATION STANDARDS (SDDS)

WHEREAS, the SDDS essentially consists of statistical practices or prescribed standards by the International Monetary Fund (IMF) to guide member countries in the provision of timely, accessible and reliable economic and financial statistics to the public;

WHEREAS, the SDDS is expected to contribute to the pursuit of sound macroeconomic policies as a result of enhanced availability of timely and comprehensive statistics;

WHEREAS, subscription to the SDDS will provide easy and quick access to the latest statistics of subscribing members;

WHEREAS, the Philippines officially subscribed to the SDDS through a communication on August 5, 1996 by the Bangko Sentral ng Pilipinas Governor as Philippine Government representative to the IMF;

NOW THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED, that the Board ratify the subscription of the Philippine Government to the SDDS;

BE IT RESOLVED FURTHER, that the NSCB will be the overall coordinator of the Philippine subscription to the SDDS.

Approved in principle last August 12, 1996 and confirmed last January 27, 1997.