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Tiny loans lead to bigger debts, land losses in Cambodia
by Rina Chandran
Thomson Reuters Foundation Translate This Article
7 August 2019
On 7 August 2019 Thomson Reuters Foundation reported:
The rapid rise of tiny loans aimed at helping poor Cambodians has led to more debt, with many borrowers forced to sell land, migrate, or put their children to work, human rights groups said on Wednesday [7 August]. ... High interest rates, the use of land titles as collateral, and pressure to repay loans have led to a 'predatory form of lending' by microfinance institutions (MFIs), they said. 'MFIs, as they currently operate, pose a direct threat to the land tenure security of millions of people in Cambodia,' they said in the report.
Global Good News service views this news as the failure of modern business systems.
Such 'flops' highlight the need for more intelligent, evolutionary, Natural Law based, life-supporting systems.
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