Somalia: Lending interest rate

The latest value from 1988 is 33.67 percent, an increase from 22 percent in 1987. In comparison, the world average is 1553.84 percent, based on data from 65 countries. Historically, the average for Somalia from 1975 to 1988 is 13.13 percent. The minimum value, 7 percent, was reached in 1975 while the maximum of 33.67 percent was recorded in 1988. See the global rankings for that indicator or use the country comparator to compare trends over time.

The lending interest rate in Somalia shown below is the interest rate on credits from banks to prime borrowers, i.e. to the lowest risk borrowers in the private sector. That includes firms and households.

Definition: 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.