tv Myanmars Cycle Of Debt Al Jazeera August 11, 2018 6:33am-7:01am +03
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and how that instinct help them recover from the financial crash i would continue as long as i can stand. this is a story about iceland. agege on al-jazeera. with its blaming new shopping malls and high rise apartments yangon's become the symbol of me and mars economic progress. but in its poorest neighborhoods families trying to loan sharks just to survive. i'm steve cho on this up a sort of one of one east we meet those trapped in a cycle of debt and the people who profit from their despair.
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and go on living on the wrong side of the tracks means living on the wrong side of the river. it is here that room migrants a force to settle all they search for jobs in the city. some cross the river at the break of dawn knowing that they will return missing money in the hands. of the most those with no regular source of income. mornings or just the start of another day and struggle. over that every day when one comes to the market to buy food to have family on the globe only on the way out but will be a. problem. on my photo well. stated. every cent counts. which the
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twenty year old is shopping for her husband two children and three members of her extended family. that is just two dollars twenty despite a hundred to buy much more like philip family. and also i don't want to hear this is the way i found. it i found the love of our way. four dollars fifty a day in a part time job cooking and cleaning the middle class families in the city. this makes knowing the family breadwinner with her husband working just two days a week as a plumber. the family have been struggling ever since no one gave birth to the twins. and when shit last year. with hospital bills for one hundred fifty
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dollars they had to take out a loan from a local money lender who charges a steep twenty percent month interest. over the course of eighteen months they managed to pay back almost all of that money but then the monsoon season struck. me . miss you and it had to come out when you down a lot on meola but are now demanding a same breed and i met a lot of the little that they are told though now though only. allow a go. every day as she makes her way to the money lenders house loan carries with more than half the families. it's a heavy burden. found. the long.
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a lot of. those things. the money lender is a friend of the family and the young mother herself. feelings of empathy were forgotten when deciding the terms of the learning. with such high interest rates how long do you think it's going to take you to pay back its loans. machine. that they will. never know why. but she did. learn is not the only one crippled by high interest rates
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in neighborhoods like this eighty five percent of households born money. the learns usually rescue to borrow from an immediate financial emergency that was monthly interest rates as high as fifty percent become a crushing cost. mornings for thirteen year old unfit and his ten year old brother simon start with breakfast and to play for. in the past they would head off to play football with their friends. now the only game that the two boys can play involves reading in between the checking desperately searching the size of the right the plastic bottles until.
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it's a relentless toss particularly in the summer months when temperatures can soar to forty degrees celsius and shade is difficult to find. with a family of six to feed the poor as it's a choice. in may with no way to let me out. i don't need it i don't know at the mills i'm not a mad man imma call. it what i don't know you know i'll. tell them they don't want to see you. or anyone don't want to. be on. a new. me well if they go about. the boy's mother in just
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three dollars fifty to twenty percent interest. eight months later she owes sixty dollars. with that debt spiraling out of control the mother decided to take her sons out of school and put them to work as collectors. in israel botolf. no no no that is. a violation thing i didn't do the. one you. saw john the does the job and. the libeling one. dollar. thing it didn't do it. or didn't have. to do and i don't. know with you i don't know the real. me. you know so much. it was
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a. cut out of. done with. unsettling and something. but the loyalty to that is we. still limited. to limited. war in iraq so when. i got it i made the wall but i'm not. after three hours with boys but. it's too packed full of cans and bottles. of sixty cents but. it's not enough to pay off their mother's daily interest payments. so they will have to return to the streets again and they often.
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then not only children who have to work here to survive. the government estimates that there are one point three million child laborers in. one of the worst rates of under-age appointment. poverty has been the job. and force behind this phenomena look at the dependence of man most poor on these high interest loans making it even worse. we've managed to track down a break at that specializes in recruiting children into jobs as waiters cleaners and housemates the minimum working asian male nurse fourteen released and this lady recruits children far younger than that. she may live in a squatter come. to do in respect to four hundred dollars per month as a political recruiting tool and with jobs in towns and cities across the country.
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she says almost all of her clients come from families crippled by debt. during in may need or want need okama why did all such a man who can lead you she the whole young women are a little tired of your i do we can do. it without a job either one or now how do you really. care whether our mark hanging around toby and those wishing. to award your door yet while i walk about julia later tiger at the wall what are the living and working conditions like for these children i don't know though i'm a. little warmer someone i know she mumble mumble i'm in bed you know i walk run ins when i was march out on she said to send me and i'm nearly at the army now so they're gonna say my. son and i said don't i know you're gonna.
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allow low on a radio one of the only way we are in was going our way to. some people would say that taking children below is illegal working age and placing them in jobs in different towns and cities is human trafficking would you agree with that. we also i don't know. who needed the. irony is that daughter will believes she is helping the families around. even after she says that under aged children. the burden of debt remains. and it's the community's money lenders. so who are these shrewd individuals profiting from their friends and neighbors.
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you would. need i need i know how do you know. they are. the longest. is the village seamstress but she doesn't spend much time behind the sewing machine trays and. the idea. that they might. have only know. about i was early and if. you want to tell you we are not. how did you did how many are not on. it i mean a lot of. them are down on it yet i'm a bit how do you get my battalion had to do it i said but when. you need my money i do is eat a little acting. now he had a dollar for every need i need i be barbaric. no
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shortage of people looking for some quick cash money lending takes up more and my daughter is time. that one neighbor that i love and. and i do i did the day that homework. now there is no. one. more. thing really common ground i'll drop in on in she gonna be a. lovely and daughter. and not. in mine i mean are suited. to me and this in.
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the. town. or not. she has around twenty clients you pay monthly interest rates of either twenty or thirty percent technically this makes her work legal individual money lenders cannot charge more than eighteen percent. they require an official license . but under quoted law is rarely policed and daughter he says all the money lenders get away with charging a lot more and i'm now doing. that. and . i don't. want anyone to tell you. would you say that your money lending operation is well the business or service which i doubt are lazy him or not if you
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don't let me know what they don't lead you when i use out a use i learned i bought my lab the water or my lab. b.b. been at the why not. when you did that. we've met families. being so critical by the interest payments that they struggle to feed their children do you think that it can still be classified as a service but these are the consequences. if you do get a little in the p.c.l. i'm going to get up when he did the born it got eyes on me. and needs him again donna when i named. him there sally i mean a benign. little guy you know why didn't he. in fact according to door take the risks too slowly upon the money lenders with clients regularly disappearing in the middle of the night without paying off that debt due to our your but i'm out all night you know mellow gave you an example
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might be. beating the wind and by your mood now you mean it will be all and when you haven't got a lot you taking the law. again i don't have you want. you i want anything but. really no b m a lot of. it is read here for the money lenders to get violent when their clients refused to pay social scene is a common topic and one that is often employed by dual takes as she controls the neighborhood i don't know if that meant they knows of friends and i got that. same again there's a. fairly many might be money i will be. went . through that will. gladly they walk out on me.
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but the door take the benefits outweigh the risks. and with interest rates of up to thirty percent she's decided money lending makes good business sense. and you know i show no doubt even up to me you know why you are now heading your way down or. you know i don't really know why the natural way and you know i wanna grow up and never go again or you know. and with a steady stream of clients that future. and her profits and looking very easy spending time with dorotea has shown the ethics of money lending and not black and white the one shots are profiting from the vulnerability of their neighbors but that's such a vital component of the local economy that monthly interest rates of twenty to thirty percent are considered normal. the problem is that cash is still killing in myanmar less than twenty percent of the population tracker. however there is one
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place the need of the banks nor money lenders but. i've come to the suburb of young dawn to meet a group of women that have managed to escape the clutches of lying sharks their collective sable scheme the results of your life changing. for the last nine years these thirty four women have been meeting every week to invest their money in a group savings account. and deposit two dollars fifty into this green card and after three months of great quest and the energy bill for my. geo one i got it you would have to miles to walk around it while looking out of the . way. for the system to work everything must be fair and accountable so the women have set up strict rules which they must fall into to. zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero
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zero zero zero zero zero. there was. zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero. zero zero they do pay a monthly interest but just two percent and at the end of beginning that money is shared among the group. since the initiative began they have used the profits from the savings account to buy a president who themselves in housing and create a community of entrepreneurs who are financially self-sufficient. before joining the collective can no more could barely afford to rent. a movie. aloud. and they want to tell others how about meow and miss. all but one
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thousand sailors bonding b.-a only be able to where they were said that the only beautiful mom issue. one isn't available to me is our way that clear down. but i doubt it will not be able machine. she is one of the few autism you can make traditional percussion moments in and gone before she could only produce around fifty a week so now my and she did do it do not do it but she without it let you know without it. but you know you are able and all but you go without it having met all be others about your maci you all know tonight on my way maci you what you been able to tell we overlooked it mckibben h.e.i. how to the but she that she let go that it wouldn't have done any good and ended up boredom a good job. with help from the group can now move was able to buy the additional materials that she needed in order to meet the demands from her clients she now produces anything from one hundred to one thousand pieces
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a week again no one on the machine where go deep was an amateur go. authority in. the army how do you how do you lead about. how do you do any you'll i mean i. don't know. where. you know me. do you know where do you know the impact of this group is. money is quite widespread do you think the model could be replicated broadly to help other families in the young go on to. do i mean. you. get into. the totally i will say google machine. do you what am i to assume if you. want.
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to get a little mathematics. that unity has paid off. with the sound of sewing machines drifting from almost every house you can literally hear the entrepreneur and the two created by these low interest loans. and with the women taking care of family finances the husbands have plenty of time for game of these billiards i don't know if you don't. have a problem at the top i'm going to have i'm going to not bother with others if you don't know what you thought it was propped up on their table. but until that. point you continue to be trapped by that predatory lending practices annoy them as quick as an expensive form of credit. i'm freaking out with nine and have found one be among them. it's been a week since i met a young mother of two by now she should have finished paying back this month's
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interest so how have you been since we last saw you haven't got any further towards interest rates i thought i was out of sight out of them i got a little now i have not found what i think i didn't hang out at target i know a lot but. i mean god lives out all they want us and me i've always been and it sounds to me to be a handout of the language and. i don't doubt a lot of being now a lot about it. now landownership i need. something new that. it wasn't the news i was hoping for nine nine and have family a family an even deeper into debt. i did all of the one of the last and i mean that was it all go out nothing and here i was about the a j.
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lo want to know why. i'm going to need a whole lot of. fellows yeah you down either one of you down. and is you out b.b. out being. one minute landings you can lead a silence who has to be tired. so now rather than focusing on the one maintaining the family has had to borrow money from multiple lenders. it is a complicated web of debt is even harder for a long night. especially if the family injures another financial emergency in the coming months. but this is the reality for anyone struggling on a nice income in myanmar. because when illegal money lenders will the street few can avoid the crippling cycle of debt.
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