Confessions of a Microfinance Heretic
How Microlending Lost Its Way and Betrayed the Poor
by:
Hugh Sinclair
in:
Economics
Summary:
The book critically examines the microfinance industry, revealing how it has deviated from its original mission of helping the poor and instead often exploits them with high-interest rates and aggressive repayment tactics. It provides an insider's perspective on the systemic issues within the sector and calls for significant reforms to ensure microfinance truly benefits those it was intended to serve.
Key points:
1. Microfinance Myth-Busting: The book debunks the idea that microfinance is a cure-all for poverty, showing how some MFIs have become profit-focused and exploitative.
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