assessed in this report are the Central Bureau of Statistics (CBS), the Bank of Israel (BOI), and the Ministry of Finance (MOF). 1
The datasets to which this report pertains can be accessed in print and on the Internet:
CBSwebsite: ( http://www.cbs.gov.il )
BOI website: ( http://www.bankisrael.gov.il )
MOF website: ( http://www.mof.gov.il ).
This report is based on information provided prior to and during a staff mission during the period November 1–15, 2005 and publicly available information. The mission team was headed by Mr. Robin D. Kibuka, and also
International Monetary Fund. Monetary and Capital Markets Department
The Central Bank of Seychelles (CBS) sets a high benchmark for transparency, given the economic, and financial development and literacy circumstances of Seychelles, which is recognized by the stakeholders, thus maintaining a high level of trust and accountability. Despite constrained human capital resources, the CBS has taken commendable actions to facilitate an open and dynamic dialogue with key stakeholders. The CBS took the lead in communications on extraordinary support programs during the COVID-19 pandemic, regularly engaging with the public using plain language and various communication tools. It is also making great efforts to promote financial inclusion in Seychelles by developing and implementing a broad agenda on financial education and enhancing consumer protection in the financial sector.
and independent statistical processes. The CBS has an active policy in place for responding to erroneous use or misinterpretation of statistics. Transparency Information on the terms and conditions for compiling statistics is available on the CBSwebsite, in the Statistics Ordinance , and in the report prepared in accordance with the Freedom of Information Law , which can also be found on the CBSwebsite. Advance access by the MOF to national accounts and general government accounts data are indicated in Hebrew in the CBS sources. Advance notice is given of major
This Report on the Observance of Standards and Codes—Data Module provides an assessment of Israel’s macroeconomic statistics against the Special Data Dissemination Standard complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework, July 2003. The assessment reveals that Israel’s macroeconomic statistics are of generally high quality and are broadly adequate to conduct effective surveillance. However, some shortcomings may impede the accurate and timely analysis of economic and financial developments and the formulation of appropriate policy.
bilateral meetings with strategic users at managerial and technical levels. The CBS clearly demonstrates awareness of quality as the cornerstone of its statistical work, applies strict technical procedures in the compilation and dissemination of statistics, and promotes a culture of professionalism and high ethical standards.
8. The terms and conditions under which statistics are produced and disseminated are available on the CBSwebsite and in publications. Information on internal government access to data before their release to the public, as established in the
according to the presentation prescribed in the GFSM 2001 on the CBSwebsite .
The GFS data in the IMF’s based presentation is scheduled to be publicized in the CBSwebsite later this year, and then annually, at the time of the submission of the annual GFS data to the IMF for inclusion in the GFS Yearbook
The Hebrew version of the tables in the GFSM format is currently under preparation.
The CBS intends to consult the IMF about the preferred timing and ways of presentation of the GFS data on the CBSwebsite.
V. M onetary S tatistics
Include in the BOI
access arrangements to statistics prior to their release are documented on the IMF’s Dissemination Standards Bulletin Board (DSBB), they are not documented on the CBSwebsite. These arrangements should also be documented on the CBSwebsite where they are likely to be more accessible to local users of statistics.
Recommendation : The CBS should provide documentation on the CBSwebsite explaining preembargo data access to ministries with specific subject-matter interests .
1.1.3 The appropriate statistical entity is entitled to comment on erroneous
heading “Integrity” the terms and conditions under which the CBS’s statistics are produced, including those relating to confidentiality and individually identifiable information.
All CBS publications identify where more information about the CBS and its products can be found, for example, by referring to the CBSwebsite ( www.cbs.nl ).
1.2.2 Internal governmental access to statistics prior to their release is publicly identified.
With one exception, there is no internal government access to statistics prior to their release. The Dutch version of the CBS
Dutch macroeconomic statistics are generally in accordance with internationally accepted standards and guidelines on concepts and definitions, scope, classification and sectorization, and basis for recording. They are also available with periodicity and timeliness that always meet, and sometimes exceed, Special Data Dissemination Standard (SDDS) requirements. The macroeconomic statistics of the Netherlands get high marks for accuracy and reliability. The range of annual source data for national accounts is extensive. However, there are no quarterly collections from enterprises for gross fixed capital formation or inventories.
Statistics Netherlands also publishes seasonally adjusted series for the main aggregates. Up to now, however, users seem to be quite happy with the emphasis on the more traditional year-to-year changes. In future, this may change. Statistics Netherlands will keep track of the future trends in this respect.
• Release the quarterly national accounts publication on the CBSwebsite at the same time as the press release .
The present paper publication on quarterly national accounts will be stopped next year. Statistics Netherlands plans to publish a shorter and more