Tue | Sep 26, 2017

Jamaica launches National Summary Data Page, IMF welcomes move

Published:Thursday | February 16, 2017 | 2:17 AM

The International Monetary Fund (IMF) has congratulated Jamaica on becoming the first Caribbean country and the second in the Western Hemisphere to implement the recommendations of the Enhanced General Data Dissemination System.

It did this by launching the National Summary Data Page yesterday.

The page serves as a one-stop publication for essential macroeconomic data from the Bank of Jamaica (BOJ) the Ministry of Finance and Public Service and the Statistical Institute of Jamaica.

The IMF says publication of essential macroeconomic data will provide national policymakers and a broad range of domestic and international stakeholders with easy access to information that the IMF’s Executive Board has identified as critical for monitoring economic conditions and policies.

The IMF says making this information simultaneously available to all users will bring greater data transparency.

Director of the IMF’s Statistics Department, Louis Marc Ducharme, has welcomed the platform as a major milestone in the country’s statistical development.

Meanwhile, BOJ Governor Brian Wynter says publishing national economic data on a timely basis promotes efficiency in financial markets, encourages fiscal discipline, discourages public sector negligence and corruption, and allows policymakers and regulators to assess and manage risk better.

The summary data page will be posted on the websites of the BOJ, Statistical Institute of Jamaica and the Ministry of Finance and Public Service.