Use of Financial Services, Assets: Outstanding Loans at Deposit Taking Microfinance Institutions (MFIs) for Senegal
SENFCSODMFXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
752,645,000,000.00
Year-over-Year Change
250.37%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding loans at deposit-taking microfinance institutions (MFIs) in Senegal. It provides insights into the financing activities of the microfinance sector, which plays a crucial role in financial inclusion and economic development.
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 Deposit Taking Microfinance Institutions (MFIs) for Senegal trend tracks the total value of loans extended by MFIs in Senegal. This metric reflects the scale and breadth of microfinance activities, which are vital for providing financial services to underserved populations and small businesses.
Methodology
The data is collected and reported by the Central Bank of West African States (BCEAO).
Historical Context
Policymakers and financial analysts use this trend to assess the health and growth of the microfinance industry in Senegal.
Key Facts
- Senegal has over 200 active microfinance institutions.
- Microfinance loans account for 2.5% of Senegal's GDP.
- Women comprise 60% of microfinance borrowers in Senegal.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding loans at deposit-taking microfinance institutions (MFIs) in Senegal. It provides insights into the financing activities of the microfinance sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the scale and growth of the microfinance industry in Senegal, which plays a crucial role in financial inclusion and economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of West African States (BCEAO).
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts use this trend to assess the health and growth of the microfinance industry in Senegal, which is important for promoting financial inclusion and supporting small businesses.
Q: Are there update delays or limitations?
A: The data is published regularly by the BCEAO, but there may be some delays in reporting.
Related Trends
Insurance Company Assets to GDP for Senegal
DDDI11SNA156NWDB
Use of Financial Services: Number of Depositors which are Small and Medium Enterprises at Commercial Banks for Senegal
SENFCDODCSPENUM
Number of Identified Exporters to Senegal from Montana
MTSENA475SCEN
Value of Exports to Senegal from Arkansas
ARSENA052SCEN
Deposit Money Bank Assets to GDP for Senegal
DDDI02SNA156NWDB
General Government Revenue for Senegal
SENGGRG01GDPPT
Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans at Deposit Taking Microfinance Institutions (MFIs) for Senegal (SENFCSODMFXDC), retrieved from FRED.