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HOW e-GDDS DISSEMINATION HAS HELPED ZAMBIA ACHIEVE MARKET ACCESS FOR ITS BOND ISSUES

HOW e-GDDS DISSEMINATION HAS HELPED ZAMBIA ACHIEVE MARKET ACCESS FOR ITS BOND ISSUES. Presented at the SDMX Global Conference, Addis Ababa, 2-5 October 2017 By: Sheila M. S. Mudenda Central Statistical Office, ZAMBIA. Zambia joins e-GDDS implementation.

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HOW e-GDDS DISSEMINATION HAS HELPED ZAMBIA ACHIEVE MARKET ACCESS FOR ITS BOND ISSUES

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  1. HOW e-GDDS DISSEMINATION HAS HELPED ZAMBIA ACHIEVE MARKET ACCESS FOR ITS BOND ISSUES Presented at the SDMX Global Conference, Addis Ababa, 2-5 October 2017 By: Sheila M. S. Mudenda Central Statistical Office, ZAMBIA

  2. Zambia joins e-GDDS implementation • Zambia joined the e-GDDS implementation in 2016 (-mid) • National Summary Data Page (NSDP) developed using Statistical Data and Metadata Exchange (SDMX) -with support from International Monetary Fund (IMF) • NSDP allows for online publication of essential macroeconomic data from Central Statistical Office (CSO), Bank of Zambia (BoZ) andMinistry of Finance (MoF) • NSDP can be accessed on CSO website (www.zamstats.gov.zm) or ODP website (nso.zambia.opendataforafrica.org)

  3. Process of compiling the data • CSO is the coordinating agency for e-GDDS implementation in Zambia • Responsibility is to ensure that all e-GDDS data categories are populated regularly according to the established data release schedules from CSO, BoZandMoF • Designated ODP Focal Points take the lead in ensuring data updates for their institutions and collaborate well with CSO

  4. Process of compiling the data…CSO • CSO responsible for data categories on: • Population • Gross Domestic Product (Quarterly- from 2016) • Index of Industrial Production • Trade Statistics • Consumer Price Index • Labour Statistics (Quarterly- from 2017)

  5. Process of compiling the data…BOZ • Depository Corporation Survey • Interest Rates • Central Bank Survey • Stock Market Index • Balance of Payments • Official Reserve Assets (*) • Exchange Rate • Financial Soundness Indicators • International Investment Position

  6. Process of compiling the data…MoF • The MoF disseminates statistics on: • Central Government Operations – Fiscal data • Public Debt (*)

  7. e-GDDS Popularisation • Information on the launch of NSDP was shared in “The Monthly” publication of July 2016. • In addition to the direct access, the link to the NSDP has been added to CSO website through the Data access tab. • CSO planning to put the link on the Open Data Platform (ODP), which has gained a lot of popularity amongst users.

  8. e-GDDS benefits to Zambia • Communication between the participating agencies has been enhanced, with growing understanding and appreciation of open sharing of information • Data categories on e-GDDS platform, allow Zambia to disseminate information on fiscal performance, public debt and monetary and financial market indicators to a range of users at the same time. • Government communicates openly the outcome of its policy objectives and its strategy for achieving them.

  9. e-GDDS benefits to Zambia • Help investors make informed investment decision on Zambian bonds and thus facilitating access to the bond market. • Informs investors and potential investors on the state of the Zambian economy thus facilitating investors’ decision-making and participation on the Zambian bond market. • Transparency and high frequency data dissemination gives confidence to wide range of users- and boosts CSO’s role

  10. Feedback on e-GDDS from users • Difficult to provide evidence of feedback on e-GDDS from users; 94 NSDP reviews on treasury bonds, treasury bills data (*website upsets) • CSO has however received some verbal feedback on the Open Data Portal • Feedback points to the wealth of data that is easily accessible • With growing interest and use of the Open Data Portal, accessed through CSO website, one can assume more accessibility to the NSDP

  11. Feedback on e-GDDS from collaborating agencies • Format of some required data categories for MoF and BoZ present some challenges in timely updates • Data categories format are quite different from routine data presentation; requiring extra effort to work with them • Routine data formats that are already in use by BoZ and MoF are for other reporting purposes (including for IMF)

  12. Moving forward… • CSO and partners are content to continue with e-GDDS implementation • Will work with the IMF to streamline database creation to make it easier and faster for participating agencies, particularly for: • Domestic Debt (MOF) • International Reserves and Exchange Rates (BOZ) • ENSURE more is done to disseminate NSDP to users to increase use: • Include NSDP link on the open data portal for more access • Advertise NSDP on the websites (CSO, MoF, BoZ and Min. of National Development Planning) • Communicate often using other channels, e.g. meetings, workshops

  13. Thank you for your Attention Sheila Shimwambwa-Mudenda National e-GDDS Coordinator-ZAMBIA (ASSISTANT DIRECTOR- Information, Research and Dissemination) sheila.smudenda@gmail.com

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