Financial Inclusion in Latin America and the Caribbean during the COVID pandemic
DOI:
https://doi.org/10.59051/joaf.v15i3.728Keywords:
latin america, caribbean, covidAbstract
Purpose: This paper provides an overview of financial inclusion in the Latin America and Caribbean region during the COVID pandemic based on 2021 Global Findex data.
Methodology: The study used descriptive data analysis to show the trend in financial inclusion during the pandemic.
Results: The study found that there was low level of financial inclusion in the LAC region. Account ownership and formal savings of the LAC region were below the world average in all population categories during the pandemic. The female, poor and uneducated population were the most adversely affected during the pandemic. This calls for urgent need to accelerate recovery from the pandemic and increase financial inclusion interventions for the vulnerable members of the population in the LAC region.
Originality: Existing financial inclusion studies focusing on LAC countries have not provided an overview of the state of financial inclusion in Latin America and Caribbean countries during the COVID pandemic. Therefore, there is an urgent need to understand the current state of financial inclusion in the Latin American and Caribbean region during the COVID-19 pandemic.
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