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Contradictory debate on the virtues of microcredit
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Muhammad Yunus and the Grameen Bank which he has created, received the Nobel Peace Prize 2006. The Global Microcredit Sumit was held in Halifax in November 2006. From this, has resulted an unprecedented consensus among the media, on the alleged virtues of microcredit for resolving the issue of poverty in the world. The voices of some researchers call for a realization of the limits of this financial instrument.
By tackling numerous myths that surround the nature, the impact and the effects of microcredit, a team of researchers from the FIP and its international collaborators (India, France, Switzerland, Canada, Mexico, Belgium, Georgia and Western Africa also) draw the attention of researchers and political and social decision-makers, to the limits of microcredit. They demonstrate, based on a detailed analysis of cases brought back to their economical and social context, that microcredit cannot claim to be a major instrument for eradicating poverty and reducing inequalities.
For more information:
- Presentation of the research project “Labour, Finance and Social Dynamics” and related publications list, among which: Banquiers aux pieds-nus : la microfinance (J-M Servet ; Odile Jacob ed., 2006) ; Microfinance en Asie : entre traditions et innovations (I. Guerin et coll. ; Khartala-IRD-IFP ed., 2005) ; Microfinance challenges : empowerment or disenpowerment of the poor ? (I. Guerin & J. Palier, IFP ed. 2005) ; Microfinance : from daily survival to social change (I. Guerin & J-M Servet ; IFP ed., 2003
)
http://www.ifpindia.org/Labour-Finance-and-Social-Dynamics.html
- Selection of press articles: "Le microcrédit ne peut pas prétendre être un élément majeur pour éradiquer la pauvreté" (La Tribune de Genève, 25 octobre 2006) ; "Le microcrédit fait-il baisser la pauvreté?" (Le Monde, 14 novembre 2006) ; “Microcredit, NGOs and poverty alleviation” (The Hindu, 15 November 2006) ;
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http://www.ifpindia.org/-Presse-.html