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Stop blaming the victims of the microfinance crisis!
24 May
by
Nedha de Silva
The exponential growth of the microfinance industry in Sri Lanka does not correspond with its contribution to reducing poverty. Instead, it has escalated indebtedness among women, pushed them below subsistence and made victims of both personal and structural violence. The Satyagraha which commenced on March 8 by the Collective of Women Affected by Microfinance in Hingurakgoda, Polonnaruwa, was the latest manifestation of the microfinance crisis. The female victims were exposing the failure of the government, the Central Bank, and the microfinance service providers to address fallouts in lending. ....

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