After the financial crises of the mid-1990s, the IMF launched its Data Standards Initiative to address data gaps revealed by the crisis. Under this initiative, the Enhanced General Data Dissemination System (e-GDDS) was created to guide participating countries in strengthening their national data systems by emphasizing data publication, namely through a National Summary Data Page (NSDP).
The NSDP is a “data hub” designed to improve data transparency and governance through the timely and regular release of data essential for the analysis of macroeconomic conditions. It focuses on the publication of data through a standardized platform to improve efficiency in data sharing, while leveraging SDMX or machine-readable technologies. The datasets chosen for the NSDP are considered important concepts for economic monitoring, including in the context of the Fund’s mandate for surveillance.
Countries that participate in e-GDDS have benefited by reducing their reporting burden to different agencies, generated greater interest in the country’s economy by policy makers, markets, and International Financial Institutions, and via the e-GDDS governance structure improved interagency collaboration.