* indicates monthly or quarterly data series

Real interest rate: Bank lending rate minus inflation, 2022:

The average for 2022 based on 21 countries was 1.11 percent. The highest value was in Madagascar: 37.39 percent and the lowest value was in Zimbabwe: -36.42 percent. The indicator is available from 1961 to 2022. Below is a chart for all countries where data are available.

Measure: percent; Source: The International Monetary Fund
Select indicator
* indicates monthly or quarterly data series


Countries Real interest rate, 2022 Global rank Available data
Madagascar 37.39 1 1989 - 2022
Seychelles 14.2 2 1989 - 2022
Mozambique 12.91 3 1997 - 2022
Kenya 5.97 4 1971 - 2022
Lesotho 4.56 5 1980 - 2022
South Africa 3.85 6 1961 - 2022
Angola 3.28 7 1995 - 2022
Malawi 2.84 8 1981 - 2022
Comoros 2.73 9 1999 - 2022
Namibia 1.73 10 1991 - 2022
Nigeria 0.92 11 1970 - 2022
Rwanda 0.31 12 1996 - 2022
Egypt 0.14 13 1976 - 2022
Cape Verde 0.08 14 2006 - 2022
Swaziland -0.27 15 1975 - 2022
Mauritius -2.04 16 1980 - 2022
Sierra Leone -4.8 17 1965 - 2022
Burundi -5.54 18 1978 - 2022
Botswana -7.36 19 1980 - 2022
Algeria -11.12 20 1995 - 2022
Zimbabwe -36.42 21 2012 - 2022



Definition: Real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.

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