After a nearly three-decade civil war those devastated by it had to rebuild their lives and finding employment was a challenge. The strategy adopted by the Government was to expand credit and promote self-employment. But then things took a turn for the worse when their livelihoods did not flourish. People could not repay the mounting debts. The once war-torn areas of the country are now mired by multiple loans which include ‘predatory’ microfinance loans and loans provided by informal lenders at exorbitant interest rates.Failed attempts at self-employment coupled with accumulating high interest loans have now driven families to the brink of poverty.
via: www.dailymirror.lk/article/Mired-by-Multiple-Loan-Sharks-149365.html
source: dailymirror.lk
OpenEdition vous propose de citer ce billet de la manière suivante :
DM (9 mai 2018). “Mired by Multiple Loan Sharks” by Amra Ismail. SRI LANKA & DIASPORAS. Consulté le 17 février 2025 à l’adresse https://doi.org/10.58079/u8v1