State of Kuwait Completed All Requirements of IMF Enhanced General Data Dissemination System (e-GDDS)
In its continued efforts to develop statistical data and enhance transparency by publishing data in an integrated manner, the International Monetary Fund (IMF) Statistics Department completed its remote mission that took place during January 25 - February 4, 2021 to provide the technical support for the State of Kuwait to develop the National Summary Data Page (NSDP). Thus, the State of Kuwait has completed all the requirements of the Enhanced General Data Dissemination System (e‑GDDS). The system was endorsed by the IMF’s Executive Board in May 2015. The Central Bank of Kuwait (CBK) is the coordinator of Kuwait’s e-GDDS in the IMF.
His Excellency the Governor of the Central Bank of Kuwait, Dr. Mohammad Y. Al-Hashel, said, this step is the outcome of joint work between CBK, the Ministry of Finance, and the Central Statistics Bureau. Preparations in the CBK are underway to host the National Summary Data Page (NSDP) on its website, and a link to the page will be available on the IMF's Dissemination Standards Bulletin Board (DSBB) http://dsbb.imf.org , the Governor added.
The NSDP utilizes the Statistical Data and Metadata Exchange (SDMX) and aims to serve as a one-stop publication vehicle for key macroeconomic and financial data. In addition, publication of the data through the new NSDP will provide national policy makers, local and international stakeholders – including investors and rating agencies – with easy access to information critical to monitoring economic conditions and policies. Making this information easily accessible will allow all users to have simultaneous access to timely data and will bring greater data transparency. To this end, the State of Kuwait’s NSDP is scheduled for launch in April 2021.
The Governor concluded his statement by expressing his heartfelt gratitude to the Ministry of Finance and the Central Statistics Bureau for their cooperation in achieving this important milestone for the economic prosperity in the country.