Part of a special journal issue dedicated to strategies for societal renewal in Haiti., Fonkoze, "the bank the poor can call their own," is a bank that provides more than just loans. It also sees access to reasonably priced savings, remittance transfer, and currency conversion as a right of even the poorest. This article tells the story of how -- after the devastation of the 2010 earthquake -- Fonkoze found itself positioned to serve Haiti's rural population before other banks were back on their feet.
Pan-Jamaican Investment Trust has been identified among a group of investors from which equity commitments have been received for a takeover of Lascelles deMercado starting Friday, July 29, three years after a majority stake was sold to Trinidad and Tobago's CL Financial group. Outlining the rationale for the takeover, Pan Caribbean, in a release Thursday, said Lascelles is controlled by CL Spirits Limited, a subsidiary of the CL Financial group, a financially distressed conglomerate currently under management of the Trinidad and Tobago government and its Central Bank.
African American Research Center, Library, University of Illinois at Urbana-Champaign
Notes:
11 p., This study by a team from the Center for Emerging Market Enterprises (CEME) at the Fletcher School at Tufts University explores the ubiquity of gambling practices in Haiti and their implication for financial services. As findings indicate, the Haitian lottery, known as the borlette, appears as a historical and cultural response to economic and social marginalization, as well as a manifestation of undeterred hope for a transformational lump sum. Tables.
African American Research Center, Library, University of Illinois at Urbana-Champaign
Notes:
6 p., David Roodman testifies before the House Financial Services Subcommittee on International Monetary Policy and Trade about supporting Haiti's private sector.
