Zimbabwe has launched a new data portal, marking the implementation of a key recommendation of the International Monetary Fund (IMF)’s Enhanced General Data Dissemination System (e-GDDS) to publish essential macroeconomic and financial data.
The e-GDDS is the first tier of the IMF Data Standards Initiatives that promote transparency as a global public good and encourage countries to voluntarily publish timely data that is essential for monitoring and analysing economic performance.
Speaking during the launch ceremony in Harare yesterday, non-accounting secretary in the Ministry of Finance and Economic Development, Dr Judith Kateera, said: “As the Government is implementing National Development Strategy 1 (NDS1) programmes, it is critical to assess progress by monitoring the National Development Results Frameworks (NDRFs) and Sectoral Development Results Frameworks (SDRFs).
“This, therefore, calls for relevant, quality and timely statistics, which will be used to measure the set targets in the NDS1. The Enhanced General Data Dissemination System (e-GDDS) is a key standard in the production and dissemination of statistics. The system requires government agencies to disseminate comprehensive, timely, accessible, and reliable economic, financial, and socio-demographic statistics. You may already be aware that Zimbabwe was still on General Data Dissemination Standards (GDDS) whilst other regional countries such as South Africa, Angola, Botswana, Mozambique, Malawi, Namibia and Zambia had already migrated to e-GDDS, which requires production and dissemination of macroeconomic statistics within set timelines.”
Zimbabwe National Statistics Agency director-general Dr Taguma Mahonde said the e-GDDS enhances the dissemination of relevant statistics to various stakeholders such as policymakers, academia, investors and the general public thereby promoting sound macroeconomic policies and efficient functioning of markets.
“The migration also provides a path towards the higher-tier of data dissemination the Special Data Dissemination Standard (SDDS). To comply with e-GDDS standards, Zimbabwe is required to produce and disseminate 15 data categories of statistics within agreed timelines.
“Most of the data categories are already being published albeit without specific timelines and a National Summary Data Page. Making this information easily accessible in both human and machine-readable formats, in one place and according to an Advance Release Calendar, will allow all users to have simultaneous access to timely data,” said Dr Mahonde.
Implementation of the e-GDDS recommendation and the launch of the data portal – the National Summary Data Page – are a testament to Zimbabwe’s commitment to data transparency. The National Summary Data Page will serve as a one-stop publication for disseminating the data recommended under the e-GDDS, covering national accounts and prices, Government operations and debt, the monetary and financial sector, and the external sector.
It will also facilitate access for data users in Zimbabwe and abroad, including policymakers, financial sector, private investors, think tanks, and the media.
More broadly, having data in line with the e-GDDS means it should be accessible in a standardised way to facilitate analysis of economic trends across countries and to provide an early detection of risks to help avert economic crises, thus supporting sustainable economic growth and development.
Through the National Summary Data Page, Zimbabwe’s information has become easily accessible in both human-and machine-readable formats for users, resulting in greater data transparency. It is hosted on Zimbabwe’s national open data platform (ODP), which is provided by the African Development Bank, and utilises a modern data publication technology.
A link to Zimbabwe’s National Summary Data Page is available on the IMF’s Dissemination Standards Bulletin Board.
The data is provided by the Zimbabwe National Statistics Agency, the Ministry of Finance and Economic Development, and the Reserve Bank of Zimbabwe.
Mr Bert Kroese, chief statistician and data officer, and director of the IMF’s Statistics Department, welcomed this major milestone in the country’s statistical development.
“I am confident that Zimbabwe will benefit from using the e-GDDS as a framework for further development of its statistical system,” said Mr Kroese.
The benefits, including better sovereign financing conditions for countries participating in the e-GDDS, have recently been reviewed by the IMF Executive Board in the context of the Tenth Review of the IMF Data Standards Initiatives.
The launch of Zimbabwe’s National Summary Data Page was supported by an IMF technical assistance project financed by the Government of Japan.
Meanwhile, Finance and Economic Development Minister, Professor Mthuli Ncube, was in Egypt over the weekend where he spoke about the experience of financial reforms and the pension system.
He also spoke about the remarkable development witnessed by the agricultural sector and wheat production.
Prof Ncube added that Zimbabwe was keen to benefit from the Egyptian experience in comprehensive health insurance, by sending a delegation to learn about the fundamental reforms it has taken to improve the health sector.
While in Egypt, Prof Ncube met that country’s Finance Minister Mohamed Maait and discussed a range of issues. – The Herald
