Sunday, December 10, 2023

Latin America and Southeast Asia are pushing global financial inclusion upwards

Financial inclusion around the world improved last year, driven by Latin America and Southeast Asia, according to a study sponsored by the American company Principal Financial Group.

The second edition of the Global Financial Inclusion Index, published this Tuesday, shows “a significant increase, of 5.6 points, in the overall score of global financial inclusion, which reached 47.3 out of 100.” “This is due to growth in Southeast Asia and Latin America, which is reinforced by important improvements in the support offered by financial systems,” the press release said.

The report, produced by the Center for Economics and Business Research (CEBR) and Principal, makes a comprehensive and comparative assessment of financial inclusion around the world and ranks 42 markets in relative terms, as well as a bag – a perfect global and regional score. .

Read Also:  Russians strike near Kyiv, block aid convoy; port city reels

Brazil was one of the economies that increased the most in financial inclusion last year, along with Thailand, Vietnam and South Korea. The Latin American giant is currently in 21st place, with 47.6 points.

Singapore tops this financial inclusion ranking with 73.9 points, followed by Hong Kong (71.1) and Switzerland (68.4).
Spain is in 29th position (41.4); Mexico, at 35th (37.6); Peru, at 38th (31.4); Colombia, at 39th (30.2); and Argentina, in 42nd, the last (23.9).

The Global Financial Inclusion Index, compiled from public source data and surveys, ranks 42 markets based on three pillars of financial inclusion: Government, financial system and employer support.

Read Also:  Ruby Pardon's body was returned to his family 34 years after he died
Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news