Press Release: Saudi Arabia Begins Participation in the IMF's General Data Dissemination System
March 4, 2008Press Release No. 08/42
Saudi Arabia began participating in the International Monetary Fund's (IMF's) General Data Dissemination System (GDDS) on March 4, 2008, marking a major step forward in the development of its statistical system. Comprehensive information on Saudi Arabia's statistical production and dissemination practices now appears on the IMF's Dissemination Standards Bulletin Board.
To mark the occasion, H.E. Ibrahim Al-Assaf, Saudi Arabia's Minister of Finance, noted: "Saudi Arabia recognizes the need and importance of improvements in the country's statistical system. In October 2005, the Council of Ministers of Saudi Arabia adopted a decision on improving transparency in data compilation and adopting the IMF's General Data Dissemination System (GDDS) for developing Saudi Arabia's statistical system. In this context, I am very pleased that Saudi Arabia has begun to participate in the GDDS. The GDDS provides an excellent framework for the development of statistical systems and participation in it proves the commitment of the data-producing agencies to implement short- and medium-term plans for strengthening the statistical system and to monitor progress. I am confident that Saudi Arabia's GDDS participation will lead to the production and dissemination of more reliable and timely statistics."
Robert Edwards, Director of the IMF's Statistics Department, welcomed Saudi Arabia's participation in the GDDS and observed: "Saudi Arabia's participation in the GDDS is a major milestone in the country's statistical development. I am confident that Saudi Arabia will benefit from using the GDDS as a framework for further development of its statistical system. Saudi Arabia's participation in the GDDS would also encourage other countries in the region to follow the same path."
The GDDS was established by the IMF in 1997. It provides a framework to help countries to develop their statistical systems to produce comprehensive and accurate statistics for policymaking and analysis. Saudi Arabia is the 91st GDDS participant.