Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Congo
CODFCSODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.47
Year-over-Year Change
55.24%
Date Range
1/1/2004 - 1/1/2021
Summary
This economic trend measures the outstanding loans from commercial banks in the Democratic Republic of the Congo, providing insights into the financial services utilization in the country.
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: Key Indicators, Outstanding Loans from Commercial Banks for Congo' trend represents the total value of loans extended by commercial banks to borrowers in the Democratic Republic of the Congo. This metric is a key indicator of financial intermediation and access to credit within the Congolese economy.
Methodology
The data is collected and reported by the Central Bank of the Democratic Republic of the Congo.
Historical Context
This trend is used by economists and policymakers to assess the development of the Congolese financial sector and inform policies aimed at promoting financial inclusion.
Key Facts
- The outstanding loans from commercial banks in Congo stood at 3.2% of GDP in 2020.
- Congo's financial sector is relatively underdeveloped, with low levels of financial intermediation.
- Improving access to credit is a key priority for economic policymakers in the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding loans from commercial banks to borrowers in the Democratic Republic of the Congo, providing insights into the level of financial intermediation in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists and policymakers as it serves as a key indicator of financial sector development and access to credit in the Congolese economy, which is crucial for promoting economic growth and financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Democratic Republic of the Congo.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the state of the Congolese financial sector and inform policies aimed at expanding access to financial services and promoting broader economic development.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the Central Bank of the Democratic Republic of the Congo, and there may be lags in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Commercial Banks for Congo (CODFCSODCGGDPPT), retrieved from FRED.