Cabo Verde Implements the IMF’s Enhanced General Data Dissemination System
IndraStra Global

Cabo Verde Implements the IMF’s Enhanced General Data Dissemination System

Image Attribute: File photo of fishermen of Cabo Verder / Source:: Schland from Pixabay

Image Attribute: File photo of fishermen of Cabo Verder / Source:: Schland from Pixabay

Cabo Verde has launched a National Summary Data Page (NSDP) in implementing the recommendations of the International Monetary Fund’s enhanced General Data Dissemination System (e-GDDS). The page serves as a one-stop publication vehicle for essential macroeconomic data in both human and machine-readable formats. The e‑GDDS was endorsed 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 is hosted on the African Development Bank’s Open Data Platform (ODP), utilizing the Statistical Data and Metadata Exchange, and is accessible on the IMF’s Dissemination Standards Bulletin Board. The NSDP contains links to statistics published by official data producers, namely the Central Bank of Cabo Verde, the National Institute of Statistics, and the Ministry of Finance.

Publication of essential macroeconomic data through the NSDP will provide national policymakers and domestic and international stakeholders, including investors and rating agencies, with easy access to information critical for monitoring economic conditions and policies. Making this information easily accessible in both human and machine-readable formats will allow users to have simultaneous access to timely data and bring greater data transparency.

Louis Marc Ducharme, Chief Statistician and Data Officer, and Director of the IMF’s Statistics Department welcomed this major milestone in the country’s statistical development: “I congratulate the authorities for the launch of the NSDP, an important step forward in data dissemination. I am confident that Cabo Verde will benefit from using the e‑GDDS as a framework for further development of its statistical system.”

Last month, an IMF staff team led by Malangu Kabedi-Mbuyi visited Praia and Boa Vista to hold discussions on the first review under Cabo Verde’s program supported by the Policy Coordination Instrument (PCI)At the end of the visit, Kabedi-Mbuyi stated, “Recent economic and financial developments, as well as short-term prospects, are positive. Economic growth remains strong, supported by robust activity in the industry, construction and tourism sectors, improved performance in the transport sector, and recovery in agriculture output after two years of drought. Real Gross Domestic Product (GDP) growth is estimated at 5.7 percent in the first half of 2019 and projected at 5.2 percent for the year. Inflation has remained low, declining to 0.7 percent in October 2019.”

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