Systemic financial risk

One of the largest of Haiti’s microcredit groups, Finca Haiti, wrote off almost a third of its portfolio after many clients died in the earthquake or lost their homes and businesses. A staggering 53 percent of its borrowers were late on their payments.

Here is much more, about the difficulties of running a micro-credit system in an economy with a negative real rate of return.

Elsewhere, Ireland expands aid to Haiti.  The cholera epidemic is getting much worse rapidly.