Statec, the national statistical agency, has announced that Luxembourg has met the requirements for compliance with the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) Plus, the highest level of data dissemination available.

Following its adherence to the SDDS Plus, Luxembourg's data will now be published on the IMF's Dissemination Standards Bulletin Board (DSBB).

Louis Marc Ducharme, Chief Statistician and Data Officer of the IMF and Director of the IMF’s Statistics Department, welcomed Luxembourg's accession and said 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 Luxembourg’s financial sector, the cross-border-financial linkages, and the vulnerabilities of the economy to shocks”.

The SDDS Plus builds on progress achieved through the SDDS and aims to help statistically advanced countries publish comprehensive, timely and reliable economic and financial data in a context of continued economic and financial integration.

The SDDS Plus builds on the SDDS and its purpose is to assist statistically advanced countries with regard to the publication of comprehensive, timely, and reliable economic and financial data in an environment of continuing economic and financial integration.

According to the IMF, the Data Standards Initiatives were established in the mid-1990s to enhance member countries’ data transparency and to promote the development of sound statistical systems. The need for data standards was highlighted by the financial crises of the mid-1990s and again in the late-2000s.