Today, Explained So you toppled an autocrat
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Aug 14, 2024 Redwan Ahmed, a freelance journalist from Dhaka, dives into Bangladesh's turbulent political scene. He explores the potential of a Nobel laureate stepping in as prime minister, contrasting the legacy of Sheikh Hasina's leadership. The conversation touches on the impact of microfinance on women's empowerment, while also highlighting the pressing challenges of an interim government. With escalating protests for reform, Ahmed provides insights on the delicate balance needed for a successful political transition in a nation seeking democracy.
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Yunus and Microfinance
- Muhammad Yunus, a Bangladeshi economics professor, left his classroom to address a famine.
- He initiated Grameen Bank, offering microloans, starting with $27 to 42 people.
Microfinance Criticisms
- Critics of microfinance cite high interest rates that trap borrowers in debt cycles.
- Reports exist of suicides, asset seizures, and aggressive collection practices by lenders.
Yunus and Hasina's Relationship
- Sheikh Hasina initially supported Yunus's microfinance initiatives.
- Their relationship soured after Yunus's Nobel Prize, possibly due to Hasina's alleged jealousy.