Use of Financial Services, Liabilities: Outstanding Deposits by Households at Deposit Taking Microfinance Institutions (MFIs) for Guinea
GINFCLODMFHXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
618,857,000,000.00
Year-over-Year Change
1066.73%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held by households at deposit-taking microfinance institutions (MFIs) in Guinea. It provides insight into the level of financial inclusion and access to formal banking services 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, Liabilities: Outstanding Deposits by Households at Deposit Taking Microfinance Institutions (MFIs) for Guinea metric tracks the total value of deposits maintained by households with MFIs. This indicator offers a window into the degree of financial intermediation and household participation in the formal financial system.
Methodology
The data is collected through surveys and reports from deposit-taking MFIs operating in Guinea.
Historical Context
This trend is relevant for assessing financial inclusion and development policies in the country.
Key Facts
- Deposits at MFIs represent a key source of financing for financial inclusion initiatives.
- Growth in MFI deposits indicates increasing access to formal banking services.
- Outstanding MFI deposits provide a measure of household participation in the financial system.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total outstanding deposits held by households at deposit-taking microfinance institutions (MFIs) in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This metric offers insights into the level of financial inclusion and access to formal banking services for households in Guinea.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from deposit-taking MFIs operating in Guinea.
Q: How is this trend used in economic policy?
A: This trend is relevant for assessing financial inclusion and development policies in Guinea.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags or limitations based on the coverage and reporting practices of MFIs in Guinea.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits by Households at Deposit Taking Microfinance Institutions (MFIs) for Guinea (GINFCLODMFHXDC), retrieved from FRED.