News Column

GCC states to share economic and financial information

June 29, 2014

Times News Service

Muscat: Taking forward the efforts to boost the statistical system across the Gulf Cooperation Council (GCC) region, the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) recently conducted a two-day workshop in conjunction with the International Monetary Fund (IMF).

The workshop, held from June 24 to 25 in Muscat, aimed at promoting exchange of views with key stakeholders on modernising the General Data Dissemination System (GDDS) and enhancing dissemination of statistics to the public.

The General Data Dissemination System (GDDS) was established by the IMF in 1997, and it aims to support statistical development by encouraging countries to improve data quality, provide comprehensive, timely, accessible, and reliable statistics to the public and evaluate needs for statistical development and dissemination.

The workshop was attended by representatives from national statistical departments.

 and finance ministries from member GCC states who exchanged views on their progress made under the GDDS framework, the lessons learnt, and possible way forward in modernising standards to enhance data dissemination.

The workshop sessions began with a presentation by an IMF representative who shared background information to provide a stocktaking of the GDDS following nearly two decades of implementation and put forward some lessons learnt. A discussion followed the presentation and highlighted GDDS challenges, progress and plans.

The second session of the workshop focused on possible features of a modernised GDDS, focusing on data dissemination, possible features of a modernised GDDS, and key messages learned from the workshop and the way forward for enhancing data dissemination under the GDDS.

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Source: Times of Oman

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