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Africa
Liberia fights 'vulture' creditors
President says country cannot afford to pay back millions in loans to foreign creditors yet.
Last Modified: 02 May 2010 22:51 GMT



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
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