Microcredit Critics Say Debt Doesn't Equal Emancipation

by Kanya D'Almeida

UNITED NATIONS - In response to a pelting critique from academics, economists and grassroots organizers worldwide, the 2011 State of the Microcredit Summit Campaign Report plans to address the controversies surrounding a development scheme that many believe to have failed.

The report, which is set to be released Mar. 7 in Washington D.C. to great fanfare, will be presented by the 2006 Nobel Peace Prize Laureate Muhammad Yunus, founder of the Grameen Bank in Bangladesh, a man who has earned himself a reputation as either the Superman of poverty-alleviation or the Judas of social change, depending on who you talk to.