Using Metadata Standards to Improve IMF and National Data

Abstract

This poster illustrates how metadata standardization in the International Monetary Fund (IMF) leads to an improvement in the quality of statistical information and a better understanding of data and metadata by users. It enables a more efficient and faster exchange of information at lower costs, which is made possible as a result of collaboration with member countries and other international organizations. Metadata standardization leads to greater efficiencies and lower costs in global exchange and internal production of data. Use of metadata standards enhances the accountability of countries for providing quality information about their economy and improves the understanding of data by users. The IMF experience, as outlined in this abstract, demonstrates how metadata standards have resulted in faster, cheaper and more consistent production and dissemination of data.