Somalia

Interest Rates On Bank Credit To The Private Sector

33.67
Dec 75Dec 77Dec 78Dec 79Dec 80Dec 81Dec 82Dec 83Dec 84Dec 85Dec 86Dec 880.0009.00018.0027.0036.00
  • Somalia
  • Global Median
Source: IMF

Definition of Interest Rates On Bank Credit To The Private Sector

Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.

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