[QODLink]
Europe
'Vulture funds' sue Liberia
Offshore investment funds take poverty-stricken nation to London court over debts.
Last Modified: 26 Nov 2009 18:34 GMT

Two offshore investment funds are taking the poverty-stricken African state of Liberia to London's high court, over an unpaid debt that dates back to the 1970s.

The Caribbean-based companies, described as "vulture funds" want more than $20 million.

But Liberia says it cannot afford to pay the debt, and accuses the firms of profiting from poverty.

Barbara Serra reports.

Source:
Al Jazeera
Topics in this article
Country
City
Featured on Al Jazeera
An unflinching portrait of physical labour in the 21st century.
The stark choice between a fascist or an imperialist course in Syria should be discarded for a third and better course.
Israel's propaganda machine carefully chooses its words to assert illegal ownership over Jerusalem and Palestine.
As Western fears grow over Iran's continuing nuclear programme, we ask how a military strike could impact the region.
<  > 
join our mailing list

Enter Zip Code
Go