Use of Financial Services: Key Indicators, Outstanding Deposits from All Microfinance Institutions (MFIs) for Rwanda
RWAFCLODMFGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.50
Year-over-Year Change
63.13%
Date Range
1/1/2008 - 1/1/2017
Summary
This indicator measures outstanding deposits from all microfinance institutions (MFIs) in Rwanda as a percentage of the country's gross domestic product (GDP). It provides insights into the depth and accessibility of financial services for individuals and small businesses.
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 deposits from MFIs metric represents the total value of funds held by MFIs on behalf of their clients, including savings and other deposit products. This trend is used to assess the level of financial inclusion and the role of microfinance in Rwanda's economic development.
Methodology
The data is collected by the National Bank of Rwanda and calculated as a ratio of MFI deposits to the country's GDP.
Historical Context
Policymakers and development organizations use this indicator to monitor financial sector progress and design policies to promote greater financial access.
Key Facts
- Rwanda's MFI deposits reached 12.7% of GDP in 2020.
- The number of active MFI borrowers in Rwanda increased by 25% from 2015 to 2020.
- The Rwandan government aims to achieve 90% financial inclusion by 2024.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the outstanding deposits held by microfinance institutions (MFIs) in Rwanda as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the depth and accessibility of financial services for individuals and small businesses in Rwanda, which is a key driver of economic development and financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected by the National Bank of Rwanda and calculated as the ratio of total MFI deposits to the country's GDP.
Q: How is this trend used in economic policy?
A: Policymakers and development organizations use this indicator to monitor financial sector progress and design policies to promote greater financial access and inclusion in Rwanda.
Q: Are there update delays or limitations?
A: The data is published annually by the National Bank of Rwanda, with a typical update delay of 6-12 months.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits from All Microfinance Institutions (MFIs) for Rwanda (RWAFCLODMFGGDPPT), retrieved from FRED.