Sierra Leone implements International Monetary Fund’s Enhanced General Data Dissemination System

Sierra Leone Telegraph: 24 January 2017

Report from the International Monetary Fund (IMF) says that Sierra Leone has implemented the recommendations of the Enhanced General Data Dissemination System (e-GDDS), endorsed by the IMF Executive Board in May 2015. A National Summary Data Page (NSDP) has been published. (Photo: Screen shot).

The Page serves as a one-stop publication vehicle for essential macroeconomic data, in both human and machine-readable formats.

The IMF believes that this achievement places Sierra Leone in the first wave of countries to implement the recommendations of the e-GDDS.

The NSDP is posted on the websites of Statistics Sierra Leone, the Bank of Sierra Leone, and the Ministry of Finance and Economic Development, utilizing the Statistical Data and Metadata Exchange (SDMX) on the Open Data Platform provided by the African Development Bank.

A link to Sierra Leone’s NSDP is available on the IMF’s Dissemination Standards Bulletin Board at:http://nso.sierraleone.opendataforafrica.org/xaacebc/national-summary-data-page-nsdp.

Louis Marc Ducharme, Director of the IMF’s Statistics Department, welcomed this major milestone in the country’s statistical development.

“I am confident that Sierra Leone will benefit from using the e-GDDS as a framework for further development of its statistical system,” says Louis Marc Ducharme.

According to the IMF, publication of essential macroeconomic data through the new NSDP will provide national policy makers a broad range of 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.

The agency believes that making this information simultaneously available to all users will bring greater data transparency, and is pleased that Sierra Leone is among the first group of countries to implement the e-GDDS recommendations.

The International Monetary Fund’s Dissemination Standards Bulletin Board (DSBB) provides access to the Special Data Dissemination Standard Plus (SDDS Plus), the Special Data Dissemination Standard (SDDS), the Enhanced General Data Dissemination System (e-GDDS), and the Data Quality Reference (DQRS) sites. (Photo: Parliament of Sierra Leone).

The SDDS Pluswas established in 2012 to reinforce and supplement the Fund’s Data Standards Initiatives. It builds on the SDDS and its purpose is to assist member countries with regard to the publication of comprehensive, timely, accessible, and reliable economic and financial statistical data in a world of continuing economic and financial integration.

The SDDSwas established in 1996 to guide countries that have, or that might seek, access to international capital markets in the dissemination of economic and financial data to the public. This site provides information about economic and financial data disseminated by member countries that subscribe to the SDDS.

The e-GDDS was established in 2015 to guide countries in data dissemination by supporting transparency, encouraging statistical development, and helping create strong synergies between data dissemination and surveillance. The e-GDDS superseded GDDS, which had been established in 1997. This site provides information on data produced and disseminated by member countries that participate in the e-GDDS.

The Data Quality Reference Site (DQRS), which was created to foster a common understanding of data quality, provides access to contributions in the field and includes a selection of articles and other sources related to data quality issues.

Watch this short video that gives a broad overview of the benefits of the e-GDDS.

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