Use of Financial Services, Assets: Outstanding Loans to Households at Commercial Banks for Guinea
GINFCSODCHXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,783,734,000,000.00
Year-over-Year Change
1033.57%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding loans to households at commercial banks in Guinea. It is a key indicator of financial services usage and access to credit in the Guinean economy.
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 Use of Financial Services, Assets: Outstanding Loans to Households at Commercial Banks for Guinea tracks the total value of loans provided by commercial banks to individual households within the country. This metric helps assess the depth of financial intermediation and access to formal credit channels for consumers.
Methodology
The data is collected by the Central Bank of Guinea and reported to the International Monetary Fund.
Historical Context
Policymakers use this indicator to monitor financial inclusion and the development of the Guinean banking sector.
Key Facts
- Guinea is a low-income country in West Africa.
- Commercial banks are a major source of credit for Guinean households.
- Outstanding household loans peaked at $2.1 billion in 2019.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding loans provided by commercial banks to individual households in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This indicator helps assess financial inclusion and access to formal credit channels for consumers in the Guinean economy.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to monitor the development of the Guinean banking sector and progress towards financial inclusion.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in coverage or reporting consistency across the Guinean financial system.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans to Households at Commercial Banks for Guinea (GINFCSODCHXDC), retrieved from FRED.