Central Bank Sets Up Economic Finance Database with ADB
Cambodia’s central bank is teaming-up with the Asian Development Bank (ADB) on an online database to monitor the financial state of the Kingdom. The National Bank of Cambodia (NBC) and the ADB’s Macroeconomic Surveillance Database System (MSDS) will be tested online.
Agreement on the MSDS was reached at a meeting between Khou Vouthy, deputy director general of central banking and director of economic research at the International Cooperation Department at NBC and Anthony Gill, who heads the Portfolio Administration Unit at the ADB’s Cambodia Resident Mission.
The database will analyse and monitor the macroeconomic and financial situation. It will allow the ADB and NBC to come up with policies to help ensure price stability and sustain economic growth.
Users of the database will also be able to monitor and evaluate economic and financial progress through 70 key indicators, 300 graphs and 300 types of sectoral data.
NBC says the launch of this database is another step in the process of disseminating high-quality, efficient and timely information in line with the bank’s mission. The ADB’s Gill says the database will prove particularly useful during the Coronavirus pandemic.
“The Asian Development Bank was honoured to assist the National Bank of Cambodia to develop the Macroeconomic Surveillance Database System,” Gill said. “The system, tailored to Cambodia’s country features and conditions, will greatly help their understanding and assessment of the macroeconomic impacts of Covid-19.”
The ADB will provide its technical expertise with financial support from the Japanese government.
The database will include information compiled monthly, quarterly and annually and divided into six main macroeconomic sectors: global economic change, macroeconomic stability, data from abroad, the fiscal sector, the financial sector and, finally, a comparison of data with countries with a similar economic situation to Cambodia.
NBC says the launch of this database is another step in the process of disseminating high-quality, efficient and timely information in line with the bank’s mission.