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

    Cricket World Cup 2019 Quiz: How many runs can you score?

    Cricket World Cup 2019 Quiz: How many runs can you score?

    Pick your team and answer as many correct questions in three minutes.

    Visualising every Saudi coalition air raid on Yemen

    Visualising every Saudi coalition air raid on Yemen

    Since March 2015, Saudi Arabia and a coalition of Arab states have launched more than 19,278 air raids across Yemen.

    Remembering Chernobyl

    Remembering Chernobyl

    The fallout from the Chernobyl nuclear power plant explosion remains as politicised as ever, 28 years on.