Tag: microcredit

Microfinance has been a nightmare for the Global South. Sri Lanka shows that there is an alternative

Ahilan Kadirgamar and Niyanthini Kadirgamar write how women’s groups and the co-operative movement are leading the way out of the debt trap promoted by microfinance strategies. Ahilan is a member of the Collective for Economic Democratisation. Niyanthini is a PhD Student at the University of Massachusetts, Amherst, and was previously engaged with people affected by […]

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Forget microcredit: microsavings work much better

Update: Jeff Ashe responds in the comments section to some excellent comments from readers Microcredit has been getting a bad press recently – criticised for eye-watering interest rates, high indebtedness levels, and excessive hype in terms of its development impact. Oxfam America reckons it has a much better alternative – helping poor people to save first […]

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Has the microfinance bubble really burst? Guest blog by Milford Bateman

Microfinance used to be untouchable – the developmental equivalent of motherhood, apple pie or Mother Teresa. Now it is increasingly coming under fire. Today guest blogger Milford Bateman lays out the case for the prosecution. Responses by Malcolm Harper and Thankom Arun to follow. Or you could just listen to this Guardian podcast with Ha-Joon Chang, […]

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Portfolios of the Poor – a great new book

Portfolios of the Poor gave me the same feeling of excitement as the World Bank’s epic ‘Voices of the Poor’ study. Both of them are the fruit of intense scrutiny of the real lives of poor people that uncovers insights and destroys stereotypes. Poor people are most definitely not financial illiterates, but often sophisticated managers […]

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