The Industry Speaks on the Financial Crisis

by Paulina Ibarra: Monday, December 1, 2008

CGAP’s Virtual Conference on the Financial Crisis (November 18-20) welcomed over 600 MFI managers, central bankers, investors and advisers from 34 countries. The hundreds of entries submitted provided a vivid and powerful report on how the financial crisis is impacting microfinance institutions and their poor clients. MFI managers from Mongolia, India, Rwanda, Mali and Pakistan reported on clients hurt by inflation and early signals of economic downturn: job losses in the US and Europe have already meant fewer remittances from relatives abroad. Here is a glance at the Virtual Conference and its highlights.

TAGS: CGAP's Virtual Conference, Client Purchasing Power, credit crunch, currency dislocations, Financial Crisis, global recession, inflation, mfis

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One Comment

December 9th, 2008 at 1:20 pm, Sharad Pachapurkar ()

Now it is important by the Governments of the Developed & Developing countries to reduce their administrative expenses & increase jobs by developing basic Infrastructure in their respective countries. Massive infrastructure projects will lead to massive job creations. Investment in infrastructure projects is always safe & will provide minimum ROI 18%to 20%. Governments should also assign Regulatory Commissions to control infrastructure project costs & their viability in the interest of citizens of that country. Low Cost Housing Development will also help for poor people & creating vast job opportunities in Rural areas.