Tuesday, May 19, 2009

Savings of the poor: Economist article

Even those with very little money have a sophisticated approach to finance

PAYING interest on your savings will strike most people as odd. Yet some poor people in the developing world do just that. In West Africa, for example, some people pay roving susu collectors a fee amounting to a -40% annual interest rate for looking after their deposits.

From The Economist print edition, May 14th 2009

(You may be asking why I would provide a hyperlink to the print edition … and that's a good question. As a disclaimer, the article is from the print edition, but the hyperlink will not deliver you that print edition, merely an electronic reproduction from that print edition. Too much explanation?)

No comments:

Post a Comment