Thou Shalt Not Criticize Microfinance
1. According to the 2011 Global Microcredit Summit, 205,314,500; 153,306,542 of whom are women.
4. Duvendack et. al., What Is the Evidence of the Impact of Microfinance on the Well-Being of Poor People?
(London: EPPI Centre, University of London, 2011), p. 75.
5. One of the pioneers of commercial microfinance has coined the phrase “goat economics.”
6. David Roodman, “Does Compartamos Charge 195% Interest?” Center for Global Development, David Roodman’s Microfinance Open Book blog, January 31, 2011,
7. Jonas Blume and Julika Breyer, Microfinance and Child Labour (Geneva: International Labour Office, 2011). Only one microfinance fund has explicit policies regarding child labor: World Vision, which operates a number of MFIs through its subsidiary Vision Fund.
9. See http://indiamicrofinance.com/bono-quote-microfinance.html.
10. Vivienne Walt, “Does Microfinancing Really Work? A New Book Says No,”Time, January 6, 2012.
11. See Nicholas Kristof, “The Role of Microfinance,” NYTimes.com, December 28, 2009,