[Pen-l] microcredit in the global economy

["Chris Burford" <cburford@xxxxxxxxxx>]

Barack Obama's job at the moment is to get elected and he may not be more 
radical than that.

But I was struck by this passage in the biography of his mother on the Time 
website, Ann Dunham.

I wonder how much he knows about it. If/when he gets drawn into a series of 
meetings about restructuring the global economy, I wonder if people will try 
to lobby him to get this sort of thing included on the agenda.
There will be lots of parts of the world that will need reconstruction, and 
it will be better from the bottom up.

"Ann's most lasting professional legacy was to help build the microfinance 
program in Indonesia, which she did from 1988 to '92-before the practice of 
granting tiny loans to credit-poor entrepreneurs was an established success 
story. Her anthropological research into how real people worked helped 
inform the policies set by the Bank Rakyat Indonesia, says Patten, an 
economist who worked there. "I would say her work had a lot to do with the 
success of the program," he says. Today Indonesia's microfinance program is 
No. 1 in the world in terms of savers, with 31 million members, according to 
Microfinance Information eXchange Inc., a microfinance-tracking outfit. "

Chris Burford
London 

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