Uzbekistan to enter IMF's data system

2 March 2018 16:13 (UTC+04:00)

By Kamila Aliyeva

Uzbekistan will introduce a system for disseminating data on the methodology and standards of the International Monetary Fund (IMF) by May this year, the press service of the State Statistics Committee of Uzbekistan reported.

Joining the expanded General Data Dissemination System (p-GDDS) will allow foreign investors, leading foreign companies and international financial institutions, full access to various economic data in the format in which they are accustomed, and will enable to stimulate an increase in the volume of attracted foreign investment, as today many foreign investors do not trust official Uzbek statistics.

National summary data pages (NSDP) will be posted on the website of the State Statistics Committee of Uzbekistan using the “information center” for the dissemination of statistical data and metadata.

The NSDP page contains links to statistics published by official sources of data, namely the State Statistics Committee of Uzbekistan, the Central Bank and the Ministry of Finance.

This page should serve as a universal means for publishing the most important macroeconomic data, the press service of the committee noted.

Today, the IMF Statistics Department is one of the key players in the international statistical cooperation. The fund's interest in statistics is primarily the national accounts, the balance of payments and financial data.

The IMF annually publishes a wide range of data on loans, exchange rates, as well as economic and financial statistics.

In early August, Uzbek President Shavkat Mirziyoyev criticized the state statistics bodies. For example, according to Mirziyoyev, the work on ensuring the completeness and reliability of the reporting data is not organized at an appropriate level, which makes it possible to objectively assess the level of development of industries and spheres of the economy of the republic and regions.

In addition, the president noted, the mechanisms of informing the broad circles of the foreign business community and the international community about the results of the economic reforms carried out in the country through the publication of statistical data in international statistical publications are poorly used.

---

Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

Follow us on Twitter @AzerNewsAz