Excellent news - Oxfam's campaign to stop company Donegal from demanding payment of debt from Zambia including interest and costs amounting to $40 million has been successful.
Read the full story here.
Tuesday, April 24, 2007
Tuesday, April 03, 2007
Forest Preserve
Excellent news from Indonesia where the government has agreed to preserve a 250,000 acre stretch of forest
Sunday, April 01, 2007
Bad Joke
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.
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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