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Bhutan to Implement the International Monetary Fund’s Enhanced General Data Dissemination System

PRESS RELEASE

 Bhutan to Implement the International Monetary Fund’s Enhanced General Data Dissemination System

11 April, 2017

 A mission of the International Monetary Fund’s Statistics Department visited Thimphu from April 5-11, 2017, to assist Bhutan with the implementation of the Enhanced General Data Dissemination System (e'GDDS), which was endorsed by the IMF’s Executive Board in May 2015. This makes Bhutan one of the first countries in the Asia and Pacific Region to implement the recommendations of the e-GDDS.

The mission supported the development of the National Summary Data Page (NSDP), which will be hosted on the National Statistics Bureau’s website. The NSDP is developed in coordination with the Royal Monetary Authority, Ministry of Finance and Ministry of Labour and Human Resources. The NSDP utilizes the Statistical Data and Metadata Exchange (SDMX) to serve as one-stop portal for key macroeconomic data.

Publication of these data through the NSDP will provide national policy makers, national and international stakeholders–including investors and rating agencies–with easy access to information that the IMF’s Executive Board has identified as critical for monitoring economic conditions and policies. Making this information easily accessible will allow all users to have simultaneous access to timely data and will bring greater data transparency.

Bhutan is encouraged by the progress made to achieve this important milestone in its quest for a more orderly publication of statistics. The NSDP will give users access to full information about Bhutan’s e-GDDS data categories by June 12, 2017.

This initiative is a part of Japan administered Account Project on the improvement of Data Dissemination in the Asia and Pacific region.

Background

The e-GDDS was established by the IMF’s Executive Board in May 2015 to support improved data transparency, encourage statistical development, and help create synergies between data dissemination and surveillance. The e-GDDS superseded the GDDS, which was established in 1997. A link to the country’s NSDP will be available on the IMF’s Dissemination Standards Bulletin Board (DSBB) by June 12, 2017: at http://dsbb.imf.org.

Apr 13, 2017    News    sonam    1389 views