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The Dangerous — And Good — News On Microcredit — CSMonitor.com

In Might, the government of Bangladesh pressured Mr. Yunus out of his place with the Grameen Financial institution, saying he had mismanaged the financial institution. However even before his ouster, Yunus was calling for reforms in microlending, including capping curiosity rates. «Commercialization has been a horrible wrong flip for microfinance, and it signifies a worrying ‘mission drift’ within the motivation of these lending to the poor,» he stated in a new York Occasions opinion piece in January. «Poverty should be eradicated, not seen as a cash-making opportunity.»

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