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

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
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