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Tuesday, 25 October 2011

How do we promote inclusive growth?

One of the things is to make sure you have an inclusive financial system—a financial system that not only links to big businesses, but also to small and medium-sized enterprises; a microcredit system; and an inclusive financial system. If you are going to have growth that is widely shared, you also have to have an educational system that is inclusive, which means reaches both girls and boys; making sure that all the citizens, no matter what the income of the parents, are able to live up to their potential.
Joseph Stiglitz in an interview with IMF Survey Online.


  1. One of the reason contributing to high poverty levels is lack of micro credit facilities as well lack of financial education, planning and business acumen among the poor. Successful micro credit institution would only be beneficial in countries like Zambia if credit education is imparted at increased proportion and include that as part of education curriculum. Research in India and Bangladesh have proven women to be more successful than the men in micro credit business. Women tend to be more ardent and disciplined in managing income for the family. Cultural barriers are also are factor in micro credit lending. Women in many African societies were viewed as less favorable in being leaders and decision makers. I am of the view that countries in Europe and America have more access to credit facilities thereby encouraging entrepreneurship, capital development, domestic investments.

    Kunda KM.

  2. I apprecaite Mr Stiglitz's inclusion of education here - something rarely raised in Zambian issues. But in Zambia we not only need inclusive education - we need education, as ours is dismal and too many children leave school functionally illiterate and innumerate, way below international standards. Until we address education, we can pump all we want into healthcare and financial systems and governance programmes and infrastructure and business promotion and still will get nowhere. We need an educated people to know and assert their rights, to feel confident to contribute, to lose their fear and envy and depend on their gifts and skills instead, to understand responsibilities versus rights, to articulate, to question and investigate, to disseminate, to understand long-term planning needs and strategies for their lives and their work....


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