micro finance -what can go wrong?

A short look at what can wrong

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    Does microfinance work?

    Does microfinance work? This question has been intensively researched and hotly debated in the development community over the past few years. The answer depends on what you mean by the words 'microfinance' and 'works'. I'll explain more, but in a nutshell, if your answer is probably not, you're likely using a narrow definition of microfinance and a specific notion of what's meant by 'works'.

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    The Dark Side of Microfinance: An Industry Where the Poor Play 'Cameo Roles' - Knowledge@Wharton

    Hugh Sinclair is the author of a new book titled, Confessions of a Microfinance Heretic: How Microlending Lost Its Way and Betrayed the Poor, in which he debunks the image of microfinance as a do-good industry committed to helping poor people create sustainable businesses.

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    Experts warn Africa must learn from India's microfinance problems

    "Microcredit has not really proved a panacea," says expert Some borrowers are forced to take new loans to repay previous loans Institutions should be more careful about who they lend money to, say experts (CNN) -- It has been lauded as one of the most promising ways of using the market to reduce poverty and boost economies in some of the world's most deprived areas.

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    We can learn a great deal by studying what has NOT worked in the past.  Here are some PDFs that you should familiarize yourself with: 

    1. http://www.calmeadow.com/pdf/failures.pdf


    3. http://www.ssireview.org/articles/entry/microfinance_misses_its_mark


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    The Stanford Progressive

    Can Microfinance Help the Poor? by Nikola de Nevers Milanovic For many of the 3 billion poor in the world, poverty does not just mean a limited access to financial resources; extreme poverty implies malnutrition and starvation, exposure to disease, an impediment to education, a reduction of rights and privileges, and possibly death.

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    How Brightest Brain Kirkinis Failed With His African Bank

    not exactly micro finance, but very similar and many good lessons. Leon Kirkinis, described as one of the sharpest minds in banking, changed South Africa by expanding credit to the poor. He also underestimated the risks, wrecked his company, rattled financial markets and left many of his 3.2 million clients drowning in debt. Kirkinis, 54, co-founded African Bank Investments Ltd.

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