'Vulture funds' sue Liberia

Offshore investment funds take poverty-stricken nation to London court over debts.

    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


    YOU MIGHT ALSO LIKE

    Double standards: 'Why aren't we all with Somalia?'

    Double standards: 'Why aren't we all with Somalia?'

    More than 300 people died in Somalia but some are asking why there was less news coverage and sympathy on social media.

    The life and death of Salman Rushdie, gentleman author

    The life and death of Salman Rushdie, gentleman author

    The man we call 'Salman Rushdie' today is not the brilliant author of the Satanic Verses, but a Picassoesque imposter.

    The Beirut Spy: Shula Cohen

    The Beirut Spy: Shula Cohen

    The story of Shula Cohen, aka The Pearl, who spied for the Israelis in Lebanon for 14 years.