Linked with … and specially this publication.
‘Vulture fund’ companies are swooping in to buy poor countries’ debt at hugely discounted prices and then suing for the full amount plus interest and punitive damages. It’s completely legal, and it’s happening right now! What’s needed is a just and comprehensive debt relief system which places the same moral and legal obligations on companies as it does on governments. As Chair of the IMF Finance Committee, Gordon Brown is uniquely placed to prevent this happening again. He must press the IMF, the World Bank and rich country shareholders to work together with poor debtor countries to establish a just and comprehensive debt system.
It is important to protect poor countries from this kind of exploitation. Gordon Brown as Chair of the IMF board is in a unique position to show leadership in protecting poor countries from vulture funds.
Oxfam writes: We would like you to join us in sending Gordon Brown a message: Get Gordon Brown to protect poor countries from vulture funds.
For this, go to this link and fill up the mail with your name and mail-address. Thank you.