Nepal Implements the International Monetary Funds Enhanced General Data Dissemination System

Stocks and Financial Services Press Releases Wednesday June 14, 2017 09:20
IMF--14 Jun--International Monetary Fund
The National Summary Data Page (NSDP) aims to serve as a one-stop publication vehicle for essential macroeconomic data in both human and machine-readable formats.

Publication of essential economic data through the NSDP will provide national policymakers and domestic and international stakeholders with easy access to critical information for monitoring economic conditions and policies.

Nepal has implemented the recommendations of the Enhanced General Data Dissemination System (e-GDDS)—endorsed by the International Monetary Fund (IMF) Executive Board in May 2015—by publishing critical data through an upgraded version of the National Summary Data Page (NSDP). The new version of the NSDP will continue to be posted on Nepal Rastra Bank's website, utilizing the Statistical Data and Metadata Exchange (SDMX), and is accessible on the IMF's Dissemination Standards Bulletin Board, at http://dsbb.imf.org. The NSDP contains links to statistics published by official data producers, namely the Nepal Rastra Bank, the Central Bureau of Statistics, and the Financial Comptroller General Office in the Ministry of Finance. The page aims to serve as a one-stop publication vehicle for essential macroeconomic data—in both human and machine-readable formats.

Publication of essential macroeconomic data through the new version of the NSDP will provide national policy makers and domestic 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 in both human and machine-readable formats, and according to an Advance Release Calendar, will allow all users to have simultaneous access to timely data and will bring greater data transparency.

Louis Marc Ducharme, Director of the IMF's Statistics Department, welcomed this major milestone in the country's statistical development. "I am confident that Nepal will benefit from using the e-GDDS as a framework for further development of its statistical system."

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 supersedes the GDDS, which was established in 1997.

Watch this short video: http://www.imf.org/external/mmedia/view.aspx?vid=5212671486001.

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