Press Release: Bulgaria Subscribes to the IMF's Special Data Dissemination Standard
December 3, 2003
On December 1, 2003, Bulgaria became the 55th subscriber to the International Monetary Fund's Special Data Dissemination Standard (SDDS), marking a major step forward in the development of the country's statistical system. Bulgaria was among the first group of countries who participated in the IMF's General Data Dissemination System (GDDS) to have metadata posted to the IMF's Dissemination Standards Bulletin Board (DSBB), and it is the third country to move from participation in the GDDS to SDDS subscription.
The SDDS, established by the IMF in March 1996, is intended to guide members in the provision of their economic and financial data to the public. Subscription to the SDDS is expected to enhance the availability of timely and comprehensive statistics and thereby contribute to the pursuit of sound macroeconomic policies and the improved functioning of financial markets.
The SDDS identifies four dimensions of data dissemination: coverage, periodicity, and timeliness; access by the public; the integrity of the disseminated data; and the quality of the disseminated data. Although subscription is voluntary, a subscribing member commits to observe the standard and to provide information (metadata) to the IMF about its data dissemination practices. This information is made publicly available on the IMF's DSBB.
The DSBB now provides comprehensive documentation in English on Bulgaria's statistical practices for SDDS data categories, hyperlinked to actual country data included in the mandatory National Summary Data Page maintained by the Bulgarian National Bank.