Microfinance: From Village to Wall Street

This paper presents a synopsis of the current state of the microfinance industry in Latin America. It provides a rough assessment of the achievement and outreach of the industry; it offers revealing information on the financial performance of 20 microfinance institutions; and it outlines some of the major issues currently facing the industry. The underlying theme of the paper is the microfinance industry's gradual integration into established markets and structures, specifically as it relates to financial regulation and supervision and the industry's access to financial and capital markets.