> Posted by Center Staff
One of our most-read series here at the Center blog has covered the Nicaraguan microfinance industry’s crisis and subsequent progress toward recovery. Senior Analyst Sergio Guzmán has provided nearly all of the posts, which are assembled below to give you an overview of the unfolding story.
- Nicaraguan Microfinance in Crisis – November 5, 2009
The microfinance industry in Nicaragua is under siege by a politically motivated group of borrowers who call themselves the No Payment Movement (Moviemiento No Pago).
- Ley Moratoria (Moratorium Law) Passes in Nicaragua – March 23, 2010
In November of 2009, we reported that the microfinance industry in Nicaragua is under siege by a politically motivated group of borrowers. Calling themselves “No Payment Movement,” they pressured the government to lower their interest rates, suspend debt recovery trials, and grant grace periods on repayment.
- Nicaragua’s Microfinance Crisis: Looking Back, What Did We Learn? – January 24, 2011
The Nicaraguan microfinance industry suffered a profound crisis in 2009 and 2010 as a result of both the international financial downturn and the domestic No Pago (No Payment) Movement.
- Nicaraguan MFIs Forge Ahead in Wake of ‘No Pago’ Crisis – May 2, 2011
Nicaragua’s MFIs are playing an important social and economic role, and some are rebounding from the No Pago (No Payment) Movement crisis, according to local and international reports.
- Nicaragua’s MF Crisis: Is It Winding Down? – September 8, 2011
It seems like it is too good to be true, but the “No Pago” Movement leaders have agreed to have their members individually negotiate with MFIs the restructuring of their loans.
We look forward to providing you with more analysis of the challenges and opportunities in Nicaragua. If you are interested in microfinance in general and Latin American microfinance in specific, we invite you to bookmark this blog and subscribe.
Image credit: El Observador Económico