Malawi is among the first few countries in Africa to implement the National Summary Page (NSDP) which forms part of the Enhanced General Data Dissemination System (e-GDDS), a tool developed by the International Monetary Fund (IMF) to support improved data transparency.
The NSDP is expected to provide national policy makers and a broad range of domestic and international stakeholders with easy access to information that the IMF’s Executive Board identifies as critical for monitoring economic conditions and policies.
According to a statement released by the fund, the IMF mission which was recently in the country, came to assist with the implementation of the system.
“The mission helped develop the National Summary Data Page, using the open data platform installed with support of the African Development Bank, to serve as a one-stop publication vehicle for essential macroeconomic data. Malawi now joins only a handful of countries in Africa to implement the recommendations of the e-GDDS,” reads part of the statement.
IMF further said the publication of essential macroeconomic data through the new NSDP will allow all users to have simultaneous access to timely data, thus bringing greater transparency to data dissemination.
“The new National Summary Data Page will give users access to full information about the e-GDDS data categories by mid–November 2016,” reads the statement.
The Reserve Bank of Malawi (RBM) has since said the new platform will promote cross country comparison.
RBM Spokesperson, Mbane Ngwira said all responsible reporting institutions like the Central Bank, National Statistical Office and Treasury, will be using the platform to submit information to the IMF.
The e-GDDS was established 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