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.
Right now, they are getting rich by draining national budgets, taking away resources from schools, hospitals, and essential public services.
But nine in ten of the debt contracts between lower-income countries and private lenders are overseen by UK law. That means our government has the power to stop this injustice.
A new law here could stop the debt vultures in their tracks and help countries in crisis, like Ethiopia, get their debt cancelled. It’s time to build the momentum that will turn the dial on the debt crisis.
friend, will you email your MP and call for them to make a debt justice law a reality?
