CAF Aids Central Bank of Uruguay in Financial Capability Survey
December 20, 2021
The development bank welcomed the signing of a non-reimbursable technical cooperation agreement to assist the BCU in diagnosing the Uruguayan population on knowledge, attitudes and behaviors in relation to financial issues.
With the aim of carrying out a diagnosis to identify the knowledge, skills, attitudes and behaviors of Uruguayans in relation to financial issues, CAF—development bank of Latin America—concluded a non-reimbursable technical cooperation project with the Central Bank of Uruguay (BCU) to conduct the “Financial Capability Survey of Uruguay.”
CAF representative in Uruguay François Borit expressed the organization’s satisfaction with the signing of the cooperation agreement that will assist in conducting this survey, which will help “produce useful sectoral insight into financial issues for an adequate public policy design on inclusion and financial literacy, for the benefit of the Uruguayan population.”
In this sense, he explained that the results will lead to an analysis of the different sociodemographic variables of the respondents, in order to develop a segmentation of the population groups for the design of policies and programs on financial literacy. Also, the survey will help to evaluate the knowledge, trends and choice of financial products in the market, as well as the main sources of information that influence choice.
Another specific objective of this initiative is to identify attitudes and behaviors towards saving and use of money, in addition to the level of knowledge of some basic financial concepts and different financial behaviors, such as saving decisions in the short and long term, among others.
The “Financial Capability Survey of Uruguay” will include a sample of 1,200 people aged 18 or older and residing in urban and rural areas, with nationwide representation. As part of the research, experts will analyze information derived from surveys on knowledge of financial products and factors that influence choice and surveys on attitudes and behaviors towards saving, the use of money and the level of knowledge of basic financial concepts.
Learn more about CAF’s financial capability surveys at: https://www.caf.com/es/actualidad/herramientas/2021/05/visualizador-encuesta-de-capacidades-financiera/