NpM Members Issue Investor Statement on Covid-19
A statement on COVID-19 by the Dutch emerging market impact investors, under the banner of NpM.
COVID-19 (Coronavirus) Drives Sub-Saharan Africa Toward First Recession in 25 Years
Growth in Sub-Saharan Africa has been significantly impacted by the ongoing coronavirus outbreak and is forecast to fall sharply from 2.4% in 2019 to -2.1 to -5.1% in 2020, the first recession in the region over the past 25 years, according to the latest Africa’s Pulse, the World Bank’s twice-yearly economic update for the region.
Microloans, Seen as Salvation for Poor Women, Trap Many in Debt
Five years ago, Amira Hawamdeh took out a loan for $423 to buy buttons and yarn to make purses and sweaters, and winter blankets to sell to her neighbors.
With 61 Percent of Loan Book Tied Up in High-Risk Microcredit, Bandhan Bank Feels the Heat of Coronavirus Lockdown
In 2010, when the microfinance crisis broke out in the southern state of Andhra Pradesh, banks with high exposure to Micro Finance Institutions (MFIs) witnessed a devastating phase.
'We Are Nervous': Banks Mull Impact of Coronavirus on SA
“We are nervous; incredibly nervous — the impact of this is likely to be far worse than the financial crisis of 2008.”
BoG Reduces Primary Reserve Requirement to Support Economy
The Bank of Ghana has announced a raft of measures aimed to contain the economic impact of the COVID-19 on the economy and to enhance access to credit.
CBN Cuts Interest Rates, Provides N50 Billion Credit
The Central Bank of Nigeria has announced its first set of policies to cushion the negative impact the deadly Coronavirus on Nigerian businesses and economy.
Coronavirus Pandemic Deepens Cambodia's Microfinance 'Crisis'
The couple, in their 50s, run a roadside restaurant in Kampong Speu, a province west of Phnom Penh that has the highest number of microcredit loans in Cambodia.
Covid-19 Relief: HDFC Bank Releases FAQ on Deferred EMIs and its Impact
As the Reserve Bank of India announced relief measures for the common man to deal with coronavirus, several banks have come out with their explanations on what will the impact on the EMIs for the customers if they opt for deferring the EMIs by three months. Here is an FAQ by HDFC Bank, explaining how the stipulation by RBI will impact its customers.
Covid-19 to Wipe Out Equivalent of 195m Jobs, Says UN Agency
The disruption to the world’s economies caused by the Covid-19 pandemic is expected to wipe out 6.7% of working hours globally in the second quarter of this year – the equivalent of 195 million jobs worldwide, according to the UN’s labour body.