Use of Financial Services: Key Indicators, Outstanding Loans from All Microfinance Institutions (MFIs) for Guinea
GINFCSODMFGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.28
Year-over-Year Change
17.59%
Date Range
1/1/2004 - 1/1/2017
Summary
This economic trend measures the outstanding loans from all microfinance institutions (MFIs) in Guinea as a percentage of the country's GDP. It provides insight into the use and penetration of formal financial services 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 outstanding loans from MFIs indicator represents the total value of active loans made by microfinance providers in Guinea. It serves as a barometer for financial inclusion and access to credit for underserved populations and small businesses.
Methodology
This data is collected directly from microfinance institutions operating in Guinea and aggregated by national authorities.
Historical Context
Policymakers and development organizations use this metric to evaluate progress in expanding financial access and supporting entrepreneurship.
Key Facts
- Guinea has over 250 registered microfinance institutions.
- Outstanding MFI loans are equivalent to approximately 5% of Guinea's GDP.
- Microfinance is a key tool for expanding access to credit in rural areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding loans from microfinance institutions (MFIs) in Guinea as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the reach and utilization of formal financial services, which is crucial for supporting small businesses and financial inclusion in developing economies.
Q: How is this data collected or calculated?
A: The data is collected directly from microfinance institutions operating in Guinea and aggregated by national authorities.
Q: How is this trend used in economic policy?
A: Policymakers and development organizations use this indicator to evaluate progress in expanding financial access and supporting entrepreneurship in the Guinean economy.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting from microfinance institutions, and the coverage of MFIs included can vary over time.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from All Microfinance Institutions (MFIs) for Guinea (GINFCSODMFGGDPPT), retrieved from FRED.