The Impact of the Global Financial Crisis on Latin American & Caribbean Microfinance Institutions

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The purpose of this study is to gauge the impact of the global financial crisis on the microfinance sector in Latin America and the Caribbean (LAC). The situation is still clearly evolving. For example, in October 2008, when interviews with microfinance institutions (MFIs) first began, a majority of responses reflected that growth had slowed somewhat, but not dramatically. Nonetheless, preliminary data show that by the end of 2008, portfolio growth had indeed slowed dramatically. Even now, it is apparent that the crisis is having a more profound impact than those directly involved realized only a few months ago. This study attempts to describe the situation as it has evolved during the last quarter of 2008. The study is not intended to be a comprehensive or methodical survey of the entire microfinance sector. Rather, it combines a number of interviews with leaders of MFIs and microfinance investment vehicles (MIVs) with MicroRate’s own observations gathered during many ratings of MFIs since the fourth quarter of 2008.

Document Information

Document Type Report
Author MicroRate
Year of Publication 2009
Publisher MicroRate
Number of Pages 52 pp.
Region / Country Global /
Primary Language English (en)
Keywords Financial Crisis, Global Crisis, Agricultural Microfinance
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