Press Release No. 09/447

Press Release: The Socialist People's Libyan Arab Jamahiriya Begins Participation in the IMF's General Data Dissemination System

December 7, 2009

The Socialist People’s Libyan Arab Jamahiriya (Libya) began participating in the International Monetary Fund’s (IMF’s) General Data Dissemination System (GDDS) on December 7, 2009 marking a major step forward in the development of its statistical system. Comprehensive information on Libyan statistical production and dissemination practices now appears on the IMF’s Dissemination Standards Bulletin Board (http://dsbb.imf.org/Applications/web/gdds/gddscountrylist/).

To mark the occasion, Hon. Farhat Omer Bengdara, Governor of the Central Bank of Libya, noted: “Libya is committed to use the IMF’s General Data Dissemination System as a general framework to continue developing the national statistical system consistent with best international practices. The participation of Libya in the GDDS will also lead to the production and dissemination of more reliable and timely statistics.”

Ms. Adelheid Burgi-Schmelz, Director of the IMF Statistics Department, welcomed Libya’s participation in the GDDS and observed: “Libya’s participation in the GDDS is a major milestone in the country’s statistical development. I am confident that Libya will benefit from using the GDDS as a framework for further development of its statistical system.”

The GDDS was established by the IMF in 1997. It provides a framework to help countries to develop their statistical systems to produce comprehensive and accurate statistics for policymaking and analysis. Libya is the 96^th GDDS participant (excluding the countries that have graduated from the GDDS to the SDDS).