Liberia fights 'vulture' creditors

President says country cannot afford to pay back millions in loans to foreign creditors yet.

    " /> ">

    Ellen Johnson-Sirleaf, Liberia's president, has appealed to foreign creditors to allow her country time to emerge from a 25-year economic decline before attempting to recover millions of dollars it owes.

    Her appeal come as part of an attempt to fend off a so-called "vulture fund", a company that buys up bad debts of poor governments before going to court to try to get the money back.

    The Caribbean-based fund is trying to collect $20m from Liberia for a $6m loan that dates back to the 1970s.

    Al Jazeera's Yvonne Ndege reports from Monrovia.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Why Jerusalem is not the capital of Israel

    Why Jerusalem is not the capital of Israel

    No country in the world recognises Jerusalem as Israel's capital.

    Strong quotes for Martin Luther King Jr Day

    Quotes from Martin Luther King Jr that resonate today

    Quotes of justice, education, religion and race said by MLK Jr.

    Bitcoin: Know the risks before you buy

    Bitcoin: All you need to know before you buy

    'Bitcoin is right now the riskiest investment you can make.' Here are the risks you should consider before you buy.