What’s Wrong and Right with Microfinance

Hulme, David and Arun, Thankom Gopinath (2011) What’s Wrong and Right with Microfinance. Economic and Political Weekly, 46 (48). pp. 23-26. ISSN 0012-9976

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Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest rate ceilings on micro-loans and for greater openness to micro-savings products.

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