Hi friend,
We’ve just learnt that debt vultures are suing Ethiopia, a nation pushed into crisis by climate disasters and debt. And they’re doing it right here in the UK!
In a country where millions have been displaced and more than one in ten need humanitarian assistance, the vultures are swooping in - draining scarce resources from a country in turmoil.
Debt vultures are a form of private creditor, buying up debt at rock bottom prices from countries in crisis and threatening to sue for large repayments in order to make vast profits. The vultures are cashing in and getting rich by draining national budgets, taking away resources from schools, hospitals, and essential public services.
