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  • microfinance

    Reaching the World's Poor with Financial Tools

    Missing (as usual) from discussions of the Millennium Development Goals after the recent release of its 2012 report is any talk of the impressive role the private sector has played in promoting more cost-effective and sustainable development in recent years. Thus far, financial inclusion mostly encompasses microcredit (small loans to … More

    Bangladeshi Government Puts Politics over Poor in Sacking Microfinance Leader

    He may have won a Nobel Peace Prize for spurring economic growth in the developing world, but on March 2 the government of Bangladesh ordered Muhammad Yunus to leave his post as managing director of the Grameen Bank, which is credited for starting the spread of microfinance across the globe. … More

    It’s the Politicians: Microfinance in India Continues to Take an Unfair Beating

    Microfinance institutions (MFIs) in India have been taking a serious beating recently. The threats and actions of politicians are so bad that they threaten the future of the industry in the country, and the primary reason is microfinance’s success. MFIs are working wonders to help people pull themselves out of … More

    Corruption: Siphoning Off Growth

    Stories of corruption in India have filled the news in recent days. First there’s the corrupt Communications and Information Technology Minister, whose scam to pocket money from telecommunications firms may have topped $37 billion. Then there were accusations that politicians, officials, and contractors had pocketed more than 70% of $2.5 … More

    Default? More Like Corrupt Officials

    A recent New York Times article on microcredit in India may have missed the whole point. Their headline implies massive defaults in the microcredit industry, yet in the first paragraph they state, “borrowers in one of India’s largest states have stopped repaying their loans, egged on by politicians.” If borrowers … More

    A Free Market Solution to Helping the World’s Poor

    A featured op-ed in The Wall Street Journal last week documented the recent, surprising successes of Bangladesh. Henry Kissinger dubbed it a “basket-case” at its inception. It has little economic freedom, and many in the international community saw little hope for it, but it has made some large achievements in … More