17 May 2008

Profits and MicroFinance

The Economist latest issue has an article entitled Poor people, rich returns: Is it acceptable to profit from the poor? spotlighting the anti-capitalist socialist core of many microfinance NGOs including Nobel Peace Prize Winner Yunus. The disputes revolve around Compartamos, the Mexican microfinance bank that went public last year, and their supposedly monopolistic explotative practices and lending rates. BusinessWeek last December quotes Yunus blasting Compartamos as well.

No comments: