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Credit Where Credit’s Due: The Global Poor Should Be Integrated into the Formal Financial System
December 13th, 2010
The initial swell of enthusiasm for microfinance has somewhat subsided recently, as an elegantly simple idea founders on the rocks of reality. Despite the early successes of projects such as Muhammad Yunus’s Grameen Bank in Bangladesh, billions of people from Dhaka to the Dominican Republic remain shut out of the global financial system. The scarcity of credit available to the world’s poorest is still a significant impediment to ending global poverty. The current crisis in the Indian state of Andhra Pradesh is a case in point. A rash of defaults- and even suicides- among borrowers have led to...
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Part 2: Illicit Inflows: Are They the Remedy for Illicit Outflows?
June 3rd, 2010

Global Financial Integrity Economist Devon Cartwright-Smith analyzes the relationship between illicit financial outflows and illicit financial inflows in developing economies in this two-part series.

Photograph by Ulrik De Wachter
Yesterday I posed the question of whether it is wise to subtract evidence of illicit inflows from illicit outflows (which are known to hinder developing country economies), as if one would cancel the other out. If billions of dollars...
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