'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

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Many Pentecostal churches in the Niger Delta offer to deliver people from witchcraft and possession - albeit for a fee.

    The priceless racism of the Duke of Edinburgh

    The priceless racism of the Duke of Edinburgh

    Prince Philip has done the world an extraordinary service by exposing the racist hypocrisy of "Western civilisation".

    China will determine the future of Venezuela

    China will determine the future of Venezuela

    There are a number of reasons why Beijing continues to back Maduro's government despite suffering financial losses.