Word: creditably
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...TIME: To what extent and in what specific ways is the worldwide credit crunch impacting microfinance in developing countries...
...falls outside of the mainstream economy. And there does still seem to be equity available for microfinance; recently, for example, a couple of large private equity deals were completed in India. Repayment rates remain very high, 97% or 98% in many places. That results from good, old-fashioned credit methodology - you know a household's capacity to repay. That's the kind of old-fashioned banking that some people feel was absent in this latest round of banking disasters. At the same time, we are seeing many microfinance institutions (MFIs) scaling back expansion plans and, in some cases, raising interest...
...University will also convert existing short-term tax-exempt debt into bonds with longer maturities, allowing the University to postpone short-term payments to debt holders and retain a larger financial cushion to the volatility in the credit markets...
...Willem Buiter, a political-economy professor at the London School of Economics, says that although the infusion of capital and soft loans in the financial sector "violates the letter and spirit" of standing E.U. laws on competition, European officials are turning a collective blind eye because of the credit crisis. Still, Buiter counsels Europe against matching any eventual bailout of the Big Three with aid to its own automakers. "If the Americans want to extend the life of the dinosaurs at public expense, they are free to do that," he says. "But if I see someone else jump...
...national stage. The Chavista rebels complain that the theatrics of revolution have superseded the obligations of governing in Venezuela. That concern is a big reason why the PSUV lost last week in large urban centers like Caracas and Maracaibo. In those areas, Chávez, to his credit, has spent billions on long-overdue social projects. But violent crime has nonetheless reached horrific levels, basic services like trash collection seem to have collapsed, and corruption is growing. Chávez, whose brother Adan defeated a breakaway Chavista candidate last week for the governorship of Chávez's home state...