Sunday, April 01, 2007

Will microfinance wipe out poverty?

Newsweek takes a look at what the critics have said about Microfinance. To quote:
The row over microfinance arises from colliding views on everything from the power of money to human nature. If there is any consensus, it's about the paucity of reliable data. No one knows how many microlenders exist or how solid they are, much less how their millions—or is it hundreds of millions—of clients fare. Some forecasts have projected a future market as (absurdly) large as 3 billion customers, or nearly half the current world population. All sides are arguing in the dark.

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