Hugh Sinclair is the author of a new book titled Confessions of a Microfinance Heretic: How Microlending Lost Its Way and Betrayed the Poor in which he debunks the image of microfinance as a do-good industry committed to helping poor people create sustainable businesses. Instead he documents corruption extortionist interest rates and a lack of transparency that he says characterize much of the microfinance industry today. Sinclair spoke with Knowledge at Wharton about his book the problems microfinance continues to face and some solutions for moving forward. (Podcast with transcript)
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Knowledge at Wharton