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Guinea’s Push for Bank Secrecy and Transparency Yields Fruits with New Data Portal Launch
Washington, DC - In a major milestone in its commitment to transparency, Guinea has launched a new data portal, the National Summary Data Page, which showcases the country’s efforts to promote financial transparency.
A Key Recommendation of the IMF Enhanced General Data Dissemination System (e- GDDS)
The launch of the National Summary Data Page marks a significant step forward in Guinea’s quest for greater transparency, allowing policymakers, investors, think tanks, and media outlets to access key economic data with ease. The portal provides a one-stop-shop for disseminating recommended data on:
- National accounts
- Prices
- Government operations
- Debt
- Monetary and financial sectors
- External sector
Features of the New Data Portal
The new data portal is hosted on Guinea’s national Open Data Platform (ODP), provided by the African Development Bank, and uses modern data publication technology. It offers users both human- and machine-readable formats, making it easier to analyze economic trends and detect potential risks.
A Significant Milestone in Guinea’s Statistical Development
According to IMF Chief Statistician and Data Officer Bert Kroese, “I am confident that Guinea will reap significant benefits from utilizing the e-GDDS as a framework for advancing its statistical system.”
Part of Guinea’s Efforts to Improve Transparency and Accountability
The launch of the National Summary Data Page is part of Guinea’s efforts to improve transparency and accountability in the financial sector. The country has made significant progress in implementing reforms aimed at increasing transparency, including the establishment of an independent anti-corruption agency.
Expected Positive Impact on Relations with International Partners and Investors
Guinea’s commitment to transparency is expected to have a positive impact on its relations with international partners and investors, who will be able to access reliable and timely economic data. This, in turn, is likely to improve Guinea’s sovereign financing conditions and attract more foreign investment.
Supported by an IMF Technical Assistance Project Financed by the Government of Japan
The launch of the National Summary Data Page is supported by an IMF technical assistance project financed by the Government of Japan.