Archive for December 10th, 2010

December 10, 2010

The Myths Behind Microfinance

You can find the original and complete report here

This article is published here without knowledge nor authorization from the copyright owners … this is our own collection of articles we would like to save in case one day we want to come back to them.

Jude L. Fernando , 12.09.10, 04:45 AM EST

Debate over the value of microfinance in the developing world appears to be long overdue.

Recent revelations about the role of Nobel Prize winner Muhummad Yunus in the alleged misuse of $100 million by the Grameen Banks (and the cover-up of that misallocation) have begun to provoke overdue discussions on the value of microfinance in the developing world. Arguments against microfinance center around the claim that it is a development strategy increasingly forced on the poor, and that those who are claimed to benefit from it the most–poor women–are actually its chief victims. Critics have long sought a platform to reveal the weaknesses and explode the myths supporting microfinance.

The first myth is that microfinance requires no collateral. That is nonsense. Microfinance group leaders and NGO field officers take control of all the household assets of the borrower (land, home, jewelry, equipment, food reserves, animals, remittances, savings, furnishings, etc.), and force borrowers to convert those assets to cash if there is the slightest threat of default of any borrower within the group. Peer-group pressure is combined with the threat of being stripped of essential belongings, and becomes a powerful disciplinary. Borrowing households lose control over physical assets, the ability to determine its pattern of consumption, and use of labor, ceding them all to the community and the microfinance lending agency. Given a model like this, it is no surprise that those viewed as potential defaulters are harassed not only by the lenders, but by their peers, sometimes to the point of physical violence and suicide as has been the case in India.

Complete article

December 10, 2010

¡VENGA A DAR LA CARA!

Cuando uno cree que lo ha visto, leído u oído todo, aparece alguien y te enseña que no, que hay destrucción pa’rato que no ha sido desenmascarada a la luz publica aun.

Publicado sin permiso del autor, con la única intención de difundir.
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La autopsia macabra de la destrucción de Guayana: La pérdidas; los negociados; las transnacionales, la ruina social y económica del Estado Bolívar

Damian Prat – REPORTE – Especial.-

En lugar de forzar la creación artificial de conflictos, inventando “enemigos” para desviar la atención de los verdaderos problemas del pueblo de Venezuela, muchos de los cuales los ha creado o agravado su gobierno, señor Presidente, asuma su responsabilidad. Venga a Guayana.

Dé la cara por este desastre. Por la ruina y quiebra de nuestras empresas, por los “anuncios” jamás cumplidos, por las viviendas prometidas hoy paralizadas y jamás construidas.

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December 10, 2010

WikiLeaks: Money is running out for Venezuela

Venezuela’s tottering economy is forcing Hugo Chávez to make deals with foreign corporations to save his socialist revolution from going broke.

The Venezuelan president has courted European, American and Asian companies in behind-the-scenes negotiations that highlight a severe financial crunch in his government.

Venezuela’s state-owned oil company, PDVSA, is the engine of the economy but buckled when given an ultimatum by its Italian counterpart and has scrambled to attract foreign partners, according to confidential US embassy cables released by WikiLeaks.

The memos depict an unfolding economic fiasco and suggest some of Chávez’s key allies – Argentina, Brazil and Cuba – are gravely concerned at Venezuela’s direction. “President Chávez, for his part, is acutely aware of the impact the country’s general economic trajectory has had on his popularity,” says one cable.

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December 10, 2010

WikiLeaks: la revolución se queda sin dinero

ND.- De acuerdo con cables confidenciales enviados desde la Embajada de los Estados Unidos en Caracas y otras capitales, PDVSA estaría atravesando una delicada situación financiera que haría peligrar su capacidad para financiar el Socialismo del Siglo XXI del presidente Chávez. Así lo recoge una nota en The Guardian.

Según lo dicho por altos ejecutivos de empresas petroleras de varios países, inclusive Cuba estaría seriamente preocupada. “El embajador de los Estados Unidos en La Habana reportó que el gobierno de Castro, que depende de manera significativa del apoyo financiero de Venezuela, se mostraba inquieto sobre la salud financiera de de su benefactor. ‘La posición de los franceses es que Venezuela ‘está en llamas”, lo que representa un seria preocupación para Cuba.”

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