Global Washington is hosting a discussion with microcredit experts on the current crisis in India, its causes, and its implications for the microfinance industry worldwide. Many experts are considering the current crisis India to be microfinance’s most serious challenge in the industry’s short industry. Rumors of debt-related suicide, concerns over high interest rates, and widespread... [read more]

Global Washington is hosting a discussion with microcredit experts on the current crisis in India, its causes, and its implications for the microfinance industry worldwide. Many experts are considering the current crisis India to be microfinance’s most serious challenge in the industry’s short industry. Rumors of debt-related suicide, concerns over high interest rates, and widespread over-indebtedness, have led the government of Andhra Pradesh propose an ordinance that would place strict regulations on the microfinance industry in the region—to the extent of allowing or encouraging borrowers not to repay their loans. The consequences of widespread default could be devastating for the microfinance industry. This crisis has sparked debate among microfinance experts and practitioners relating to: Causes of the crisis Implications for the industry Lessons learned Best practices going forward Panel: Background, Context, and Moderator: Steve Davis, McKinsey Keynote: David Roodman, Center for Global Development