Press Release: The Czech Republic Adheres to the International Monetary Fund’s Special Data Dissemination Standard Plus
IMF News, April 4, 2016
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- Press Release: The Czech Republic Adheres to the International Monetary Fund’s Special Data Dissemination Standard Plus
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Bibliographic details
- Published: April 4, 2016
Overview
- Press Release No. 16/150
- Date: April 4, 2016
- The Czech Republic has completed the requirements for adherence to the International Monetary Fund’s (IMF’s) Special Data Dissemination Standard (SDDS) Plus — the highest tier of the Data Standards Initiatives.
- The Czech Republic’s SDDS Plus data are now posted on the Dissemination Standards Bulletin Board at http://dsbb.imf.org/Pages/SDDS/Home.aspx?sp=y.
Key statements from officials
- Andrej Babiš, Minister of Finance of the Czech Republic:
- “We are pleased to adhere to the SDDS Plus and improve the dissemination of economic and financial data for the Czech Republic. I believe this would further contribute to transparency of macroeconomic performance and policy analysis.”
- Iva Ritschelova, President of the Czech Statistical Office:
- “The Czech Statistical Office has been publishing data in line with the previous SDDS standard since 1998. I therefore welcome the fact that the Czech Republic kept improving its statistics and can now adhere to the IMF’s SDDS Plus. This standard applies to about forty major statistical indicators, available to users from all over the world, and for the compilation of which the Czech Statistical Office plays a key role.”
- Lubomír Lízal, board member of the Czech National Bank responsible for overseeing the Statistics and Data Support Department:
- “By adhering to the SDDS Plus, the Czech Republic has joined the cluster of countries which provide transparent statistics on macroeconomic and financial stability and have thus strengthened their efforts to disseminate internationally comparable data.”
- Louis Marc Ducharme, Director of the IMF’s Statistics Department:
- “The dissemination of the new data sets under the SDDS Plus will be invaluable in fostering a deeper understanding and assessment of the performance of the Czech Republic’s financial sector, the cross-border-financial linkages, and the vulnerabilities of the economy to shocks.”
About SDDS Plus and the Data Standards Initiatives
- SDDS Plus:
- Builds on the SDDS.
- Purpose: to assist statistically advanced countries with regard to the publication of comprehensive, timely, accessible, and reliable economic and financial data in an environment of continuing economic and financial integration.
- Data Standards Initiatives:
- Established in the mid-1990s to enhance member countries’ data transparency and to promote the development of sound statistical systems.
- Motivated by information deficiencies highlighted by the financial crises of the mid-1990s and again in the late-2000s.
- The Data Standards Initiatives also include the SDDS and the Enhanced General Data Dissemination System (e-GDDS).
- Further information:
- Detailed information on the Data Standards Initiatives can be found on the Dissemination Standards Bulletin Board at www.dsbb.imf.org.
- For more information on SDDS Plus and its worldwide launch see also the IMF’s press release of 18 November 2014.
Implications and significance
- Adherence signals:
- The Czech Republic now meets the highest IMF standard for data dissemination (SDDS Plus).
- Strengthened transparency of macroeconomic performance and policy analysis for the Czech Republic.
- Improved availability of about forty major statistical indicators to users worldwide.
- Enhanced capacity to assess the Czech Republic’s financial sector performance, cross-border financial linkages, and economy vulnerabilities to shocks.
Contact
- IMF COMMUNICATIONS DEPARTMENT
- Media Relations
- E-mail: media@imf.org
- Phone: 202-623-7100
Source: IMF press release dated April 4, 2016 (Press Release No. 16/150).