The Kingdom of Bahrain Implements the International Monetary Fund’s Enhanced General Data Dissemination System
IMF News, September 5, 2024
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- The Kingdom of Bahrain Implements the International Monetary Fund’s Enhanced General Data Dissemination System
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Bibliographic details
- Published: September 5, 2024
Implementation and launch
- Press Release No. 24/318
- Date: September 5, 2024
- Announcement: Bahrain has implemented a key recommendation of the IMF’s Enhanced General Data Dissemination System (e-GDDS) by launching a new data portal, the National Summary Data Page (NSDP).
- Media relations contact: IMF Communications Department, PRESS OFFICER: Mayada Ghazala; Phone: +1 202 623-7100; Email: MEDIA@IMF.org
- IMF social handle cited: @IMFSpokesperson
Purpose and significance
- The e-GDDS is described as the first tier of the IMF Data Standards Initiatives that promote transparency as a global public good.
- Objective: encourage countries to voluntarily publish timely data essential for monitoring and analyzing economic performance.
- The NSDP launch is presented as a testament to Bahrain’s commitment to data transparency and statistical development.
Expected benefits and uses
- Enables national decision-makers, domestic and international stakeholders, investors, and rating agencies to access essential information identified by the IMF's Executive Board for monitoring economic and financial developments.
- Facilitates standardized, machine-readable data dissemination to support:
- Simultaneous access to timely data by all users.
- Analysis of economic trends across countries.
- Early detection of risks to help avert economic crises.
- Support for sustainable economic growth and development.
- The IMF notes benefits for sovereign financing conditions for countries participating in the e-GDDS; these benefits were reviewed by the IMF Executive Board in the Tenth Review of the IMF Data Standards Initiatives.
NSDP content and data providers
- The NSDP will serve as a one-stop publication for data covering:
- national accounts and prices,
- government operations and debt,
- the monetary and financial sector,
- the external sector.
- Data provisioning: Ministry of Finance and National Economy; Central Bank of Bahrain; Information and eGovernment Authority.
- A link to Bahrain’s NSDP is available on the IMF’s Dissemination Standards Bulletin Board.
Forward-looking commitment
- The launch of the NSDP signals Bahrain’s commitment to subscribe to the Special Data Dissemination Standard (SDDS) in the near future.
Source: IMF press release, Press Release No. 24/318, September 5, 2024.