ePrivacy and GPDR Cookie Consent by Cookie Consent

What to read after Confessions of a Microfinance Heretic?

Hello there! I go by the name Robo Ratel, your very own AI librarian, and I'm excited to assist you in discovering your next fantastic read after "Confessions of a Microfinance Heretic" by Hugh Sinclair! 😉 Simply click on the button below, and witness what I have discovered for you.

Exciting news! I've found some fantastic books for you! 📚✨ Check below to see your tailored recommendations. Happy reading! 📖😊

Confessions of a Microfinance Heretic

How Microlending Lost Its Way and Betrayed the Poor

Hugh Sinclair

Biography & Autobiography / Business

This memoir by a microfinance insider “is essential reading for anyone interested in development economics, a disturbing and yet ultimately hopeful exposé” (John Perkins, New York Times bestselling author of Confessions of an Economic Hitman).
 
This is the account of a microfinance true believer whose decade in the industry turned him into a heretic. Working with several microfinance institutions around the world, Hugh Sinclair realized that the $70 billion industry wasn’t doing much to help the people it claimed to serve. In fact, exorbitant interest rates led borrowers into never-ending debt spirals, and aggressive collection practices resulted in cases of forced prostitution, child labor, suicide, and nationwide revolts against the microfinance community. 
 
Sinclair weaves a shocking tale of a system increasingly focused on maximizing profits—particularly once large banks got involved. He details his discovery of several scandals, one of the most disturbing involving a large African microfinance institution of questionable legality that charged interest rates in excess of one hundred percent per year and whose investors and supporters included some of the most celebrated leaders of the microfinance sector. 
 
Sinclair’s objections were first met with silence, then threats, attempted bribery, and a court case, and eventually led him to become a principal whistleblower in a sector that had lost its soul. Microfinance can work—Sinclair describes moving experiences with several ethical and effective organizations and explains what made them different. But without the fundamental reforms that Sinclair recommends here, microfinance will remain an “investment opportunity” that will leave the poor with hollow promises and empty pockets.
Do you want to read this book? 😳
Buy it now!

Are you curious to discover the likelihood of your enjoyment of "Confessions of a Microfinance Heretic" by Hugh Sinclair? Allow me to assist you! However, to better understand your reading preferences, it would greatly help if you could rate at least two books.