Word: poore
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When the rich suffer, so do the poor. Or so goes the trickle-down theory. It turns out, though, that the spreading of global financial pain is far from simple. The microfinance industry, for instance, may be resistant to some of the volatility now plaguing financial markets. That's because those who borrow in small amounts from micro lenders often work on projects unaffected by large-scale global banking travails. Recent studies have confirmed the robust reliability of borrowers at the bottom end of the global income scale. The world's poorest are affected, though, by commodity price volatility...
...TIME: To what extent have the global economic challenges trickled down to impact the poorest of the poor...
Iskenderian:The impact on the poor, including the clients of our network, has probably been most evident in rising food and energy prices, which have meant that families may face trade-offs like the choice between paying back their loans or putting dinner on the table for their families. Microfinance doesn't target the poorest of the poor, as they need other types of intervention. It targets the economically active poor at the bottom of the pyramid. There are signs that micro-entrepreneurs will see higher interest rates, since the global credit crunch will likely require MFIs to raise interest...
Iskenderian: Continuing to raise global awareness of microfinance as a viable way to invest in poor women entrepreneurs and fight poverty around the world is our overarching goal. And the focus on women is really key not only for economic empowerment and empowerment reasons, but also because of the multiplier effect on economies and communities, since women reinvest their profits back into their communities at greater rates than men. One of the products we're developing that I'm most excited about is a pilot program for savings targeting young women and adolescent girls that we're working on with...
...must have offered to buy the collection 600 times before he sold it to me,” said Wronoski. “The price it sold for wasn’t even that high,” he said. “It was in poor condition—the spine was broken and there was a tear along the front hinge.” In fact, the other first edition copy of “Lolita” that Wronoski sold, which was in better condition, was priced at $65,000. The rare book business is notably complex...