Use of Financial Services, Assets: Outstanding Loans at Deposit Taking Microfinance Institutions (MFIs) for Guinea
GINFCSODMFXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
882,413,000,000.00
Year-over-Year Change
828.01%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding loans at deposit-taking microfinance institutions (MFIs) in Guinea. It provides insights into the level of financial inclusion and access to credit in the country's microfinance sector.
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 at deposit-taking MFIs in Guinea reflect the total value of loans provided by these institutions to their clients. This metric is important for understanding the depth and reach of microfinance services, which can play a crucial role in promoting financial inclusion and supporting small businesses and low-income households.
Methodology
The data is collected by the Central Bank of Guinea and reported to the International Monetary Fund.
Historical Context
Policymakers and development organizations use this trend to assess the growth and performance of Guinea's microfinance industry and its impact on financial inclusion.
Key Facts
- Guinea has a population of over 13 million people.
- Microfinance institutions play a crucial role in providing financial services to underserved communities in Guinea.
- Access to credit is an important driver of economic development and poverty reduction.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding loans at deposit-taking microfinance institutions (MFIs) in Guinea. It provides insights into the level of financial inclusion and access to credit in the country's microfinance sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the growth and performance of Guinea's microfinance industry, which can play a crucial role in promoting financial inclusion and supporting small businesses and low-income households.
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 and development organizations use this trend to assess the impact of microfinance services on financial inclusion and economic development in Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting or updates, as it is dependent on the collection and publication schedule of the Central Bank of Guinea.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans at Deposit Taking Microfinance Institutions (MFIs) for Guinea (GINFCSODMFXDC), retrieved from FRED.