July 25, 2024

IMF commends Cabo Verde for implementing its enhanced general data dissemination system for transparency

The International Monetary Fund (IMF) on Wednesday commended Cabo Verde for launching a National Summary Data Page (NSDP) in implementing the recommendations of the IMF’s enhanced General Data Dissemination System (e-GDDS).

Louis Marc Ducharme, Chief Statistician and Data Officer, and Director of the IMF’s Statistics Department, welcomed what he described as a “major milestone” in the country’s statistical development

“I congratulate the authorities for the launch of the NSDP, an important step forward in data dissemination. I am confident that Cabo Verde will benefit from using the e‑GDDS as a framework for further development of its statistical system,” Mr. Ducharme said.

In a statement, IMF said the national summary data page serves as a one-stop publication vehicle for essential macroeconomic data in both human and machine-readable formats.

The e‑GDDS was endorsed 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 NSDP is hosted on the African Development Bank’s Open Data Platform (ODP), utilizing the Statistical Data and Metadata Exchange, and is accessible on the IMF’s Dissemination Standards Bulletin Board .

The NSDP contains links to statistics published by official data producers, namely the Central Bank of Cabo Verde, the National Institute of Statistics, and the Ministry of Finance.

“Publication of essential macroeconomic data through the NSDP will provide national policy makers and domestic and international stakeholders, including investors and rating agencies, with easy access to information critical for monitoring economic conditions and policies,” IMF said, adding that :”making this information easily accessible in both human and machine-readable formats will allow users to have simultaneous access to timely data and bring greater data transparency”.

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