People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Mali
DDAI07MLA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.98
Year-over-Year Change
198.76%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and older in Mali who reported borrowing from a financial institution in the past year. It provides insights into access to formal credit and financial inclusion in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'People 15 Years and Over Borrowing from a Financial Institution in the Past Year' metric is an important indicator of financial development and inclusion. It reflects the extent to which the adult population in Mali is able to access and utilize formal banking and credit services.
Methodology
This data is collected through household surveys conducted by the World Bank as part of the Global Findex database.
Historical Context
Policymakers and development organizations use this indicator to assess progress towards financial inclusion goals and design interventions to improve access to credit and banking services.
Key Facts
- Mali's borrowing rate from financial institutions was 9.5% in 2017.
- Mali ranks below the regional average for financial inclusion in Sub-Saharan Africa.
- Improving access to credit is a key priority for economic development in Mali.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the percentage of the adult population in Mali who reported borrowing money from a bank, credit union, microfinance institution, or other formal financial service provider in the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to credit in Mali, which are important factors for economic development and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank as part of the Global Findex database.
Q: How is this trend used in economic policy?
A: Policymakers and development organizations use this indicator to assess progress towards financial inclusion goals and design interventions to improve access to credit and banking services in Mali.
Q: Are there update delays or limitations?
A: The data is published every 3 years, with the most recent update in 2017. There may be limitations in survey coverage and sampling in certain regions of Mali.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Mali (DDAI07MLA156NWDB), retrieved from FRED.