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

    Musta'ribeen, Israel's agents who pose as Palestinians

    Who are the Israeli agents posing as Palestinians?

    Musta'ribeen are an elite Israeli undercover unit that disguises themselves as Arabs or Palestinians.

    Stories from the sex trade

    Stories from the sex trade

    Dutch sex workers, pimps and johns share their stories.

     How Britain Destroyed the Palestinian Homeland

    How Britain Destroyed the Palestinian Homeland

    100 years since Balfour's "promise", Palestinians insist that their rights in Palestine cannot be dismissed.