Microfinance in general and microcredit programs in particular have attracted much attention among interest groups concerned with poverty eradication and are seen by many as highly promising means in order to alleviate poverty. More recently, the spotlight has turned increasingly on the...

Motivated by current concerns over foreign currency exposures in emerging economies, we examine the currency denomination of business loans made in Bulgaria prior to the current crisis. We analyze information on the requested and granted currency for more than hundred thousand loans granted by...