Use of Financial Services Borrowers: Persons Borrowing from Deposit Taking Microfinance Institutions (MFIs) for Ecuador
ECUFCRODMFPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
434,697.00
Year-over-Year Change
-60.09%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of persons borrowing from deposit-taking microfinance institutions (MFIs) in Ecuador. It provides insights into financial service usage and inclusion within the 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 Use of Financial Services Borrowers: Persons Borrowing from Deposit Taking Microfinance Institutions (MFIs) for Ecuador trend tracks the total number of individuals who have obtained loans from microfinance institutions that accept deposits in the country. This metric is used to assess financial access and the reach of the microfinance industry.
Methodology
The data is collected through surveys and reports from Ecuador's microfinance institutions.
Historical Context
This trend is relevant for policymakers and development organizations seeking to monitor financial inclusion and the impact of microfinance programs.
Key Facts
- Ecuador has one of the largest microfinance sectors in Latin America.
- Microfinance institutions serve over 1 million borrowers in the country.
- The majority of MFI borrowers are low-income individuals and small business owners.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of individuals who have borrowed loans from deposit-taking microfinance institutions (MFIs) in Ecuador.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into financial inclusion and the reach of the microfinance industry in Ecuador, which is important for policymakers and development organizations.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from Ecuador's microfinance institutions.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and development organizations to monitor financial inclusion and the impact of microfinance programs in Ecuador.
Q: Are there update delays or limitations?
A: The data may be subject to reporting delays by microfinance institutions, and the coverage may not include all informal or unregistered lending activities.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Deposit Taking Microfinance Institutions (MFIs) for Ecuador (ECUFCRODMFPENUM), retrieved from FRED.