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Agence France-Presse: Debt traps threaten Nepal quake victims

January 6, 2017 — Agence France-Presse (AFP) quotes The Asia Foundation’s Country Representative in Nepal George Varughese:

“There is a movement towards what we call a debt trap because people who have not been able to get on with their livelihood, with rebuilding homes or with income generation, have borrowed against future earnings,” said George Varughese, the Asia Foundation’s Nepal director…

“What we have seen in other countries is that if you don’t address a future debt crisis now, it will be too late to get them out of it later. One thing (that can be addressed) is ensuring that cash and credit are readily available. That’s still not the case,” Varughese said.

Related locations: Nepal
Related topics: Nepal Earthquake

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