NY Times World Business:
After Success, Problems for Microfinancing in Mexico. ”On average, customers pay an annual interest rate of almost 90 percent, which includes 15 percent in government tax. In much of the world, microfinance interest rates range from 25 to 45 percent. But in Mexico, high costs, inefficiency and limited competition keep interest rates much higher.” My italics. Rubbing my eyes to be sure I read that correctly.
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