Bahamians, foreign investors and economic watchdogs alike will now all have critical access to The Bahamas government’s macroeconomic data, thanks to the implementation of the Enhanced General Data Dissemination System (e-GDDS), provided by the International Monetary Fund (IMF), an IMF press release states.
According to the release, this critical data will be published on The Bahamas’ National Summary Data Page (NSDP). “The page aims to serve as a one-stop publication vehicle for essential macroeconomic data on national accounts, government operations and debt, monetary and financial sector, and the balance of payments,” the release notes.
“These data will be disseminated in both human and machine-readable formats. 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 NSDP can be accessed through the Central Bank of The Bahamas’ (CBOB) website, which uses the Statistical Data and Metadata Exchange (SDMX) to route the information. According to the release it is also accessible on the IMF’s Dissemination Standards Bulletin Board.
The SDMX is an international initiative that seeks to standardize the exchange of statistical data among international organizations and their member countries.
The IMF release explains that this data is provided by the CBOB, the Ministry of Finance and the Department of Statistics.
“Publication of essential macroeconomic data through 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,” the release states.
CBOB Governor John Rolle said of the new initiative: “The Central Bank is pleased to announce that it has launched The Bahamas’ official e-GDDS portal. This website, which represents the result of a collaboration between various agencies, allows members of the public to obtain key reports and data on the economy from one location, thereby improving data transparency and governance. We thank the IMF for their assistance with this initiative and look forward to their continued cooperation.”