You'd think it was an April Fool's joke, the idea of companies buying up bad debt and then taking the country to court to screw the money out of them. Here's Oxfam's take on the subject:
Commercial companies called 'vulture funds' are making rich pickings from desperately poor countries by buying up bad debt. One of them has been suing Zambia for a staggering $55 million off the back of $3.3 million of ‘bad’ debt!
Take Oxfam's online action to stop vulture funds preying on poor countries.
There's no possible positive spin on this - for the full story, go to Oxfam's Vulture Fund website.
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