Friday, February 23, 2024
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HomeBusinessEconomyBarbados implements IMF enhanced general data dissemination system

Barbados implements IMF enhanced general data dissemination system

WASHINGTON, USA – Barbados has implemented the recommendations of the International Monetary Fund (IMF) Enhanced General Data Dissemination System (e-GDDS) by publishing essential data through the National Summary Data Page (NSDP).

The e-GDDS was established by the IMF in 2015 to support improved data transparency, encourage statistical development, and help create synergies between data dissemination and policymaking.

The NSDP is a national “data portal” that serves as a one-stop publication vehicle for essential macroeconomic data on the national accounts, government operations and debt, monetary and financial sector, and balance of payments.

The NSDP is hosted by the Barbados Statistical Service, utilizing the Statistical Data and Metadata Exchange. A link to Barbados’ NSDP is available on the IMF’s Dissemination Standards Bulletin Board. The NSDP contains links to statistics published by the Central Bank of Barbados, the ministry of finance, and the Barbados Statistical Service.

Publication of essential macroeconomic data through the NSDP will provide national policymakers and domestic and international stakeholders, including investors and rating agencies, with easy access to information critical for monitoring economic conditions and policies. Making this information easily accessible in both human- and machine-readable formats will allow users to have access to timely data and bring greater data transparency.

Louis Marc Ducharme, chief statistician and data officer of the IMF, and director of the statistics department welcomed this major milestone in the country’s statistical development: “I am confident that Barbados will benefit from using the e-GDDS as a framework for further development of its statistical system.”

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