During the financial crises in the 1990s, data deficiencies, by obscuring important financial conditions and trends may have contributed to delaying preventive or corrective actions that might have moderated the economic consequences of unfolding events. In response to the need for transparent disclosure, the International Monetary Fund (IMF) has introduced two standards for data transparency: the Special Data Dissemination Standard (SDDS) in 1996 and the General Data Dissemination Standard (GDDS) in 1997. The initiative contributed to improve the range, quality and timeliness of country data available to the public.
In February 2012, the IMF Executive Board approved the establishment of the SDDS Plus as a third tier of the IMF´s Data Standards Initiatives to address data gaps revealed during the global crisis. Compared with the SDDS, the SDDS Plus is more rigorous tier that requires adherents to disseminate a broader range of data with specified periodicity and timelines.
As a part of the Data Standards Initiatives and in a support of ready access by the public to information on countries´ dissemination practices, the IMF established an electronic bulletin board, called the Dissemination Standards Bulletin Board (DSBB). The DSBB posts information that SDDS subscribers provide the IMF on their dissemination practices and offers direct links to the economic and financial data that countries disseminate under the SDDS.
Slovak Republic acceded to the SDDS Plus in 2013. Since then, the Ministry of Finance of the Slovak Republic (as well as the Statistical Office of the Slovak Republic and the National Bank of Slovakia) have regularly published data in the quality and scope required by the standard. The dates when the data for individual categories are disseminated are published in the Advance Release Calendar. The data are published simultaneously on the website of the Ministry of Finance of the Slovak Republic and on the so-called national summary page on portal of the Statistical Office of the Slovak Republic http://mmf.statistics.sk/sdmx/en.
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