Archives For recovery

K-shaped recovery

The United States is currently experiencing what economists are calling a K-shaped recovery. This occurs when, following a widespread and significant economic dip, certain portions of the economy begin to move toward economic recovery, while others stagnate or fall even further. A K-shaped graph helps explain why recovery following the pandemic seems to be occurring unevenly—while some industries (and people) are returning to normal or even improving, others are experiencing the very opposite.

This phenomenon seems to be occurring globally, as well.

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Carrole Moussengue

2020 was the most challenging year in HOPE International’s 23-year history. Although we felt the strain of the pandemic on HOPE’s operations, the hardest part was witnessing many of the men and women we serve endure illness, loss of life, overwhelmed health care systems, shortages, halted businesses, and falling income.

Microfinance institutions (MFIs) across the HOPE network rallied to assist struggling entrepreneurs, but with markets closed and commerce grinding to a halt, the outlook was grim for both MFIs and those we serve. We began to see a chain reaction play out across our network’s operations:

COVID-19 hits, mandated lockdowns instated, businesses close and/or sales decrease, household income lost, loan repayments missed

But today, we’re excited to report that we’re seeing encouraging signs of recovery in HOPE-network microfinance institutions. We celebrate these because they indicate not only that our operations are returning to health but—even more importantly—that the families we serve are seeing their lives stabilize. Thanks be to God! Continue Reading…