Micro Credit, Macro Debt: The Industry of Poverty
Introduction The Industry of Poverty has many faces, as it manifests itself in every society on this globe, its effects are similarly devastating for the poor. What constitutes poverty? When is a person considered poor or low income? Is a person poor when he/she has to live off of less than one (1) USD a [...]
Yunus regrets offer to be nominated as World Bank chief
Nobel Laureate Professor Muhammad Yunus on Friday quietly turned down the nomination offer for the position of World Bank chief, after Bangladesh prime minister requested European Parliament delegation to nominate micro-finance pioneer. A visionary for banking for the rural poor, specially empowerment of women, Yunus declined to take the helms of affairs of the multi-lateral [...]
United States softens on threats to relations with Bangladesh
It now appears that the United States government has softened in exerting diplomatic pressure on Bangladesh soon after the authorities forcibly removed Nobel laureate Professor Mohammad Yunus from the micro-finance institution he founded 30 years ago. U.S. Secretary of State Hillary Clinton was irked last March and threatened that the bilateral relations with Bangladesh would [...]
