Manama, In line with the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, regarding the continual improvement in government data management, the National Taskforce for Information and Population convened a national workshop in collaboration with the International Monetary Fund (IMF). The workshop focused on the IMF Data Standards Framework, emphasising the requirements for the Kingdom of Bahrain advancement into higher tiers within this framework, which signifies the Kingdom’s commitment to data transparency and international best practices.
Hosted at the Ministry of Finance and National Economy headquarters, the workshop was attended by approximately 80 representatives from various government entities involved in the compilation and dissemination of macroeconomic and financial data. The workshop focused on the criteria for subscribing to the Special Data Dissemination Standard (SDDS) and adopting the latest data exchange technologies, like the Statis
tical Data and Metadata Exchange (SDMX) system.
This timely workshop coincided with an official IMF mission to Bahrain, marking the launch of the Kingdom’s National Summary Data Page (NSDP). The NSDP serves as a “data portal”, providing users access to data, metadata, and links to online datasets for all available categories. It also facilitates the automated exchange and sharing of statistical data and metadata through the SDMX; a standard for machine-to-machine transmission.
Hamad bin Faisal Al Malki, the Minister of Cabinet Affairs and Chairman of the National Taskforce for Information and Population, affirmed that the ongoing directives from His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to constantly improve government data collection and presentation methods, are aimed at aligning with the best international standards and practices in data transparency, collection and dissemination. The minister highlighted that these efforts not only strengthen national ca
pacities in accurate and timely data calculation and publication, but also create an attractive investment climate, further enhancing Bahrain’s global standing.
Noor bint Ali Alkhulaif, the Minister of Sustainable Development, Chief Executive of the Economic Development Board and Deputy Chair of the National Taskforce for Information and Population, reaffirmed the significance of the NSDP launch, as it ensures access to real-time, comprehensive statistics, crucial for measuring progress towards the sustainable development goals and enabling data-driven decision-making. Additionally, it is expected to further stimulate foreign direct investments, by increasing data accessibility to financial markets, contributing to sustainable development and economic growth.
During the workshop, the IMF experts led in-depth discussions on the IMF Data Standards Framework, detailing the steps needed for countries to subscribe SDDS. The SDDS promotes the publication of comprehensive and transparent economic and financial dat
a, fostering greater confidence in their economies and attracting foreign investment.
The workshop also explored the applications and uses of the SDMX system, emphasising its role in facilitating and streamlining statistical data exchange through advanced modeling and the use of artificial intelligence in statistical programs. Participants gained hands-on experience in converting data to the SDMX format, showcasing the system’s potential to significantly improve data collection, analysis, and dissemination for decision-makers, researchers, and various data users.
This workshop underscores the commitment of the National Taskforce for Information and Population to adopting the best international standards and practices in data publication and dissemination. It aims to ensure that the Kingdom’s economic and social progress is accurately reflected in global reports and databases, further elevating its regional and global standing.
Source: Bahrain News Agency