Hungary Adheres to the International Monetary Fund’s Special Data Dissemination Standard Plus

Washington: Hungary has completed the requirements for adherence to the IMF Special Data Dissemination Standard (SDDS) Plus—the highest tier of the Data Standards Initiatives. The Hungary’s SDDS Plus data are now accessible through the Dissemination Standards Bulletin Board.

J. R. Rosales, Acting Director of the IMF’s Statistics Department, welcomed Hungary’s adherence and noted that “the dissemination of the new data sets under the SDDS Plus will be invaluable in fostering a deeper understanding and more informed assessments of the performance of Hungary’s financial sector, the cross-border-financial linkages, and vulnerabilities of the economy to shocks.”

The SDDS Plus builds on the SDDS, and its purpose is to assist statistically advanced countries with the publication of comprehensive, timely, and reliable economic and financial data in an environment of continuing economic and financial integration. In concluding the Tenth Review of the IMF Data Standards Initiatives in February 2022, the IMF Executive Board acknowledged the significant progress made by a number of SDDS countries to adhere to the SDDS Plus and encouraged more countries to make the transition.

The Data Standards Initiatives were established in the mid-1990s to enhance member countries’ data transparency and promote the development of sound statistical systems. The need for data dissemination standards was highlighted by the financial crises of the mid-1990s and again in the late-2000s when information deficiencies were seen to play a role.

The Data Standards Initiatives also include the SDDS and the Enhanced General Data Dissemination System (e-GDDS). Detailed information on the Data Standards Initiatives can be found on the Dissemination Standards Bulletin Board at https://dsbb.imf.org

 

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