it is meant to help people endure. That is the kind of feedback loop that By VIctoR EJEchI omewhere in Lagos this morning, a civil servant on the new minimum looks like generosity in the launch communiqué and like a debt overhang wage worked out that her salary runs out around the twentieth of the S forward to the present. Whether that is a blessing or a trap depends en- three years later. month. By the twenty-first, she has borrowed against next month’s tirely on one thing: whether the money you borrow is used to create more None of this is an argument to slow CREDICORP down. It is an argu - …
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Ladder Or Trap? Nigeria’s Credit Revolution Depends On What It Doesn’t Control
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