UAE joins new IMF system to develop data

Abu Dhabi, Aug 3, 2008 (WAM) - The UAE has joined the International Monetary Fund's General Data Dissemination System (GDDS), marking a major step forward in the development of its statistical network, the Washington-based IMF said yesterday.

Comprehensive information on the UAE's statistical production and dissemination practices now appears on the IMF's Dissemination Standards Bulletin Board according to a report in ' Emirates Business 24|7'.

"In June 2008, the Cabinet approved the UAE's participation in the GDDS for developing the country's statistical system. In this context, I am very pleased that the UAE has begun to participate in the GDDS," Minister of Economy Sultan Bin Saeed Al Mansouri said.

"The UAE is committed to building a national statistical system consistent with best international practices, and the IMF's GDDS provides an excellent framework for the development of statistical systems." He said the GDDS addresses the full range of issues critical for compiling and disseminating statistics and makes explicit plans for developments to align national procedures with best international practices.

"I am confident that the UAE's participation in the GDDS will ultimately lead to the production and dissemination of more reliable and timely statistics needed for economic policymaking and monitoring developments," the minister said.

William Alexander, Acting Director of the IMF Statistics Department, said the UAE's participation in the GDDS is a major milestone in the country's statistical development. "I am confident that the UAE will benefit from using the GDDS as a framework for further development of its statistical system. The UAE is the fifth Gulf Co-operation Council country to participate in the GDDS," he said.

The GDDS was established by the IMF in 1997. It provides a framework to help countries in developing their statistical systems to produce
comprehensive and accurate statistics for policymaking and analysis. The UAE is also the 93rd GDDS participant. -