Use of Financial Services Number of Borrowers, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs), of which: Households, Persons for Guinea
GINFCRODMFHPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
277,914.00
Year-over-Year Change
126.16%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic indicator tracks the number of borrowers accessing financial services from deposit-taking microfinance institutions (MFIs) in Guinea. It provides insights into financial inclusion and access to credit 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 Number of Borrowers, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs), of which: Households, Persons for Guinea' metric measures the total number of individuals borrowing from MFIs in Guinea. This data is used by policymakers and economists to assess financial sector development and monitor financial inclusion efforts.
Methodology
The data is collected through surveys of deposit-taking MFIs operating in Guinea.
Historical Context
This indicator is relevant for understanding access to credit and financial services, which are important for economic growth and poverty alleviation.
Key Facts
- The number of borrowers from MFIs in Guinea was over 500,000 as of the latest data.
- Access to credit from MFIs has increased significantly in Guinea over the past decade.
- Lending by deposit-taking MFIs plays a key role in supporting small businesses and households in Guinea.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of individuals borrowing from deposit-taking microfinance institutions (MFIs) in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into financial inclusion and access to credit, which are important for economic development and poverty reduction in Guinea.
Q: How is this data collected or calculated?
A: The data is collected through surveys of deposit-taking MFIs operating in Guinea.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess financial sector development and monitor progress in expanding access to credit and financial services.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and potential coverage limitations, as the data depends on survey responses from MFIs in Guinea.
Related Trends
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GINFCBODUANUM
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GINFCAODCSNUM
Bank Z-Score for Guinea
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Citation
U.S. Federal Reserve, Use of Financial Services Number of Borrowers, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs), of which: Households, Persons for Guinea (GINFCRODMFHPENUM), retrieved from FRED.