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30 September 2015

Today the Governor of the Bulgarian National Bank (BNB) Mr. Dimitar Radev, in his capacity as Governor for Bulgaria at the International Monetary Fund (IMF), sent a letter to the Director of the IMF Statistics Department, in which he expressed the interest of Bulgaria and of the institutions responsible for compilation of macroeconomic statistics (Ministry of Finance, National Statistical Institute and BNB) in adhering to the Special Data Dissemination Standard Plus of the IMF.

BNB will be the coordinator of the work on the project for adherence to this statistical standard. A country’s adherence to this standard comes into effect after the IMF decides that it meets the defined requirements.

Adherence to the Special Data Dissemination Standard Plus of the IMF corresponds to the priorities announced by the BNB Governor for the Central Bank’s governance and institutional development.

The Special Data Dissemination Standard Plus of the IMF was established in 2012 with the purpose to strengthen and supplement the existing statistical data standards. It places higher requirements to IMF member countries as regards the coverage of economic and financial data, their periodicity, timeliness, accessibility and reliability. This standard supplements the Special Data Dissemination Standard, to which Bulgaria subscribed in 2003.

A country’s adherence to the Special Data Dissemination Standard Plus is an indication for domestic and foreign investors, rating agencies and international financial institutions that the quality and reliability of statistics used in making important macroeconomic and business decisions conform to the highest international statistical requirements.