Pitfalls of microdebt

This is a short blurb from 2000 on harboring a healthy skepticism of microcredit as a cure-all development solution, or a magic bullet to help the poorest of the poor.  I'm curious to see if its advice has been taken to heart by microfinance institutions, or if they are continuing in the same old lines.  By the look of some other articles I've linked to in the past, perhaps many are stuck in the same rut as always.