The debt vultures are back.
Wealthy countries have failed to act on the worst debt crisis in 35 years – and now the debt vultures are circling.
They seem to be using the threat of legal action through UK courts to strong-arm countries into bad deals to deliver themselves vast profits.
Debt vultures recently threatened to sue Ethiopia through the High Court in London – and managed to secure a deal with the Ukrainian government that will see them paid $3.7 billion on debt with an original value of $2.6 billion!
They can do this because UK law lets them. Nine in ten of these private debt contracts are governed by law here, in the UK.
A new debt justice law would stop the debt vultures mid-air. Sign the petition and call on the government to act – before they strike again.