IMF commends Zim data transparency

THE International Monetary Fund (IMF) has commended Zimbabwe for implementing the Enhanced General Data Dissemination System (e-GDDS) that aims to improve the publication of official macro-economic data saying this is a show of commitment to data transparency.

The launch of Zimbabwe’s National Summary Data Page (NSDP) was supported by an IMF technical assistance project financed by the government of Japan.

The NSDP was made public on 14 March and gives users access to comprehensive macro-economic data for Zimbabwe.

In a statement, IMF said the e-GDDS is the first tier of the IMF Data Standards Initiatives that promote transparency as a global public good and encourage countries to voluntarily publish timely data that is essential for monitoring and analysing economic performance.

Mr Bert Kroese, chief statistician and data officer, and director of the IMF’s Statistics Department said this is a major milestone in the country’s statistical development.

“I am confident that Zimbabwe will benefit from using the e-GDDS as a framework for further development of its statistical system,” he said.

A joint mission by the IMF and the African Development Bank (AfDB) was in the country between March 8-14 to assist the authorities with the implementation of e-GDDS. The system aims to improve the publication of official macro-economic data for the country, notably via the National Summary Data Page (NSDP).

“The implementation of the e-GDDS recommendation and the launch of the data portal — the National Summary Data Page — are a testament to Zimbabwe’s commitment to data transparency,” reads a statement from IMF.

The NSDP will serve as a one-stop publication for disseminating the data recommended under the e-GDDS, covering national accounts and prices, Government operations and debt, the monetary and financial sector, and the external sector.

It will facilitate access for data users in Zimbabwe and abroad, including policymakers, financial sector, private investors, think tanks, and the media, it added.

“More broadly, having data in line with the e-GDDS means it should be accessible in a standardised way to facilitate analysis of economic trends across countries and to provide an early detection of risks to help avert economic crises, thus supporting sustainable economic growth and development,” said the IMF.-chronicle.clz.w