Bahrain joins IMF data dissemination system

Bahrain has joined the International Monetary Fund's data mechanism as part of a drive to develop its statistical system, becoming the sixth Gulf country to participate in that facility, the IMF said yesterday.

The kingdom's decision to participate in the General Data Dissemination System (GDDS) "marks a major step forward in the development of its statistical system," the Washington-based Fund said in a statement.

It said comprehensive information on the kingdom's statistical production and dissemination practices now appears on the IMF's Dissemination Standards Bulletin Board, where more than 90 countries are listed.

"I am very pleased that the kingdom of Bahrain has begun to participate in the GDDS," Bahraini Minister for Cabinet Affairs Sheikh Ahmed Al Khalifa said,

"Bahrain is committed to building a national statistical system consistent with best international practices. The IMF's GDDS provides an excellent framework for the development of statistical systems and participation in it proves the commitment of the data producing agencies to implement short- and medium-term plans for strengthening the statistical system and to monitor progress. I am confident that the kingdom of Bahrain's GDDS participation will lead to the production and dissemination of more reliable and timely statistics."

William Alexander, Acting Director of the IMF Statistics Department, said Bahrain's participation in the GDDS is a major milestone in the country's statistical development.

"I am confident that the Kingdom of Bahrain will benefit from using the GDDS as a framework for further development of its statistical system. With the participation of Bahrain, all six Gulf Cooperation Council countries are now participating in the GDDS."