Cautious Resilience: The Impact of the Global Financial Crisis on Latin American and Caribbean Microfinance Institutions

Funded by MIF, CAF and Calmeadow, this MicroRate report provides a snapshot of how the impact of the global financial crisis evolved during the last quarter of 2008. The study combines data and interviews from 52 microfinance institutions (MFIs) and 23 microfinance investment vehicles (MIVs). The report concludes that microfinance will be more affected by this economic cycle than in the past because MFIs are today more tightly integrated into the global economy. The report also includes a synopsis of potential roles for microfinance stakeholders and actions to be taken in 2009.