刘颖会外文翻译原文及其译文.docVIP

2007级毕业论文外文翻译资料 Microfinances Latest Growing Pains 小额信贷业的发展阵痛 《Knowledge Wharton》 译者：刘颖会 大连民族学院 国际商学院 国际经济与贸易 072班 2011年6月 小额信贷业发展阵痛 Microfinances Latest Growing Pains The most recent crisis to hit microfinance began in Indias southern state of Andhra Pradesh, where allegations of widespread over-indebtedness, heavy-handed collection tactics and borrower suicides have stirred a national debate about regulating the industry. In October, the state government slapped restrictions on microfinance institutions that crippled lending and sent collection rates plummeting along with the share price of SKS Microfinance, Indias largest for-profit microlender. On January 19, the Malegam Committee Report, released by the Reserve Bank of India, recommended a range of new regulations for Indias microfinance institutions, including interest rate caps, loan limits and income ceilings for borrowers. Some observers welcomed the news; doomsayers predicted a credit crunch and industry collapse. While it is too early to tell how the sector will respond, the crisis in Andhra Pradesh has sparked heated debate and soul-searching throughout the worlds microfinance community. During a recent program for microfinance leaders at Whartons Aresty Institute of Executive Education, discussion turned repeatedly to questions of over-indebtedness, rapid industry growth, and the fine line between profits and purpose. The microfinance sector has experienced a rude awakening by a delinquency earthquake, said one of the programs 26 international participants, Kamran Azim, during a general discussion about the growth and sustainability of the microfinance industry. Azim, head of operations at the Kashf Foundation, a microfinance organization established in 1996 in Lahore, Pakistan, pointed out that methods and methodologies in microfinance have changed little in the past 20 or 30 years. Now suddenly, the earth has moved. Sponsored by the?Womens World Banking Center for Microfinance Leadership, the Advance