"The hardening evidence of microfinance’s failure to alleviate poverty should have led to a rethinking of its use as a development tool, said Rafe Meager, an associate professor at the University of New South Wales in Australia, who has studied the academic research on microfinance."
John Flournoy
Nice quote of @economeager.bsky.social here about no serious reckoning yet in microfinance
www.wsj.com/finance/bank...
Microfinance aimed to foster prosperity but stoked hardship for those borrowers who took on debt they couldn’t afford.
