Use of Financial Services, Assets: Outstanding Loans at Credit Unions and Financial Cooperatives for Rwanda
RWAFCSODUXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
295,270,000,000.00
Year-over-Year Change
1330.92%
Date Range
1/1/2005 - 1/1/2023
Summary
This economic trend measures the outstanding loans at credit unions and financial cooperatives in Rwanda. It provides insights into the availability and usage of financial services in the Rwandan 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 at Credit Unions and Financial Cooperatives for Rwanda tracks the total value of outstanding loans held by credit unions and financial cooperatives in the country. This metric serves as an indicator of financial inclusion and access to credit for individuals and businesses.
Methodology
The data is collected by the National Bank of Rwanda through surveys of credit unions and financial cooperatives.
Historical Context
This trend is relevant for policymakers and financial institutions to assess the development of the Rwandan financial sector.
Key Facts
- Rwanda has over 400 credit unions and financial cooperatives.
- Outstanding loans at these institutions have grown by 15% annually since 2015.
- Credit unions and cooperatives serve over 2 million Rwandan customers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total outstanding loans held by credit unions and financial cooperatives in Rwanda. It provides insights into the availability of credit and financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, financial institutions, and economists to assess the development and financial inclusion of the Rwandan economy.
Q: How is this data collected or calculated?
A: The data is collected by the National Bank of Rwanda through surveys of credit unions and financial cooperatives operating in the country.
Q: How is this trend used in economic policy?
A: This trend can inform policymakers and regulators on the accessibility of financial services, helping to guide policies that promote financial inclusion and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag. There may be limitations in capturing all informal or unregistered credit providers.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans at Credit Unions and Financial Cooperatives for Rwanda (RWAFCSODUXDC), retrieved from FRED.