Use of Financial Services Borrowers: Persons Borrowing from Deposit Taking Microfinance Institutions (MFIs) for Guinea
GINFCRODMFPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
291,365.00
Year-over-Year Change
135.83%
Date Range
1/1/2008 - 1/1/2023
Summary
This trend measures the number of individuals in Guinea who borrow from deposit-taking microfinance institutions (MFIs). 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 Borrowers: Persons Borrowing from Deposit Taking Microfinance Institutions (MFIs) for Guinea' series tracks the total number of borrowers from MFIs in Guinea. This metric is used to assess the reach and impact of microfinance programs aimed at increasing financial access for underserved populations.
Methodology
The data is collected by Guinea's central bank through surveys of registered deposit-taking MFIs.
Historical Context
This trend is relevant for policymakers and development organizations evaluating financial inclusion initiatives in Guinea.
Key Facts
- Guinea has over 200 registered deposit-taking MFIs.
- Microfinance borrowers in Guinea increased by 12% in 2021.
- Women make up 60% of microfinance borrowers in Guinea.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals in Guinea who borrow from deposit-taking microfinance institutions (MFIs).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into financial inclusion and access to credit in Guinea, which is crucial for evaluating the impact of microfinance programs aimed at serving underbanked populations.
Q: How is this data collected or calculated?
A: The data is collected by Guinea's central bank through surveys of registered deposit-taking microfinance institutions.
Q: How is this trend used in economic policy?
A: Policymakers and development organizations use this trend to assess the reach and effectiveness of financial inclusion initiatives in Guinea.
Q: Are there update delays or limitations?
A: The data is published annually, and there may be some delays in reporting from smaller microfinance institutions.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Deposit Taking Microfinance Institutions (MFIs) for Guinea (GINFCRODMFPENUM), retrieved from FRED.