Very little solid evidence exists that microloans make a dent in long-term poverty. Sadly, evidence does exist for negligence, corruption, and methods that border on extortion. Part expos , part memoir, and part financial detective story, this is the account of a one-time true believer whose decade in the industry turned him into a heretic.
Hugh Sinclair worked with several microfinance institutions around the world. He couldn t help but notice that even with a booming $70 billion industry on their side, the poor didn t seem any better off. Exorbitant interest rates led borrowers into never-ending debt spirals, and.
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Saturday, July 28, 2018
Download Confessions of a Microfinance Heretic: How Microlending Lost Its Way and Betrayed the Poor (pdf) by Hugh Sinclair, David C Korten
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