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Debt by another name

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The Bangladeshi economist Dr Mohammed Yunus is a Nobel Prize winner in recognition of his work in promoting access to credit for poor people.

Microcredit organisations typically make small loans ranging from $50 to $10 but sometimes as large as several thousand dollars to people lacking access to the formal banking sector. In Uganda, the small loans business has boomed in the past few years and is set for further growth.

But as Machrine Birungi reports, credit that appears attractive to those looking for a way out of poverty can also become a debt-trap.

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Panos London

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07/17/2007

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