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PFM Marketplace => Have you seen this? => Topic started by: harnett on November 16, 2011, 08:16:51 GMT

Title: Vulture Funds demanding over £1bn debt repayments from African countries
Post by: harnett on November 16, 2011, 08:16:51 GMT

Well this is news to me:

Twenty-six hedge funds are demanding over £1bn debt repayments from Africa's poorest countries - more than twice the International Red Cross budget for Africa this year.  Some of these debts seem to have been acquired illegally

Plenty of analysis on this page and links to the side:

http://www.guardian.co.uk/global-development/2011/nov/15/call-action-vulture-funds-preying-poor?intcmp=122

Title: Re: Vulture Funds demanding over £1bn debt repayments from African countries
Post by: atseacliff on November 16, 2011, 14:07:35 GMT

Interesting - probably worth pointing out that the DAI referred to in one of the links is not the international development consultancy based in DC and London. 

Title: Re: Vulture Funds demanding over £1bn debt repayments from African countries
Post by: harnett on November 16, 2011, 14:14:33 GMT

Yes - I immediately thought to look at that link - the DAI here is Debt Advisory International.  DAI consultancy is Development Alternatives Inc.

Title: Re: Vulture Funds demanding over £1bn debt repayments from African countries
Post by: atseacliff on November 16, 2011, 14:56:33 GMT

Indeed - I still haven't quite figured out how Jersey fits into the scheme of things....I'll read a little more carefully this evening.   Any lawyers out there???