Vulture fund update
We’ve been campaigning alongside the Jubilee Debt Campaign to see an end to vulture funds using Jersey’s courts to prey on poor countries for old debt. And last night Senator Ian Gorst, Jersey’s Chief Minister, announced plans to do so by introducing a law against vulture funds, as made permanent in the UK last year.
Over 26,000 of you in the UK signed our petition calling for this to happen. Very rarely are issues without grey areas, but companies just shouldn’t be able to behave in this way, and stop the poorest of countries getting back on their feet. And that’s what we’ve said as ONE to Jersey’s Chief Minister – and we’ve been heard.
In announcing these new plans, Senator Gorst said that:
“This demonstrates Jersey’s commitment to play its part in the global effort to support measures which assist the world’s most heavily indebted poor countries.”
We hope this means that the law will be introduced imminently, so countries like the DRC have a chance to stand up against these vultures. We may well still have more to do, and will keep you updated on Jersey’s promise, but for now, thank you for helping right this wrong.
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The International ONE Blog is a daily log of the anti-poverty movement. The site is operated by ONE staff, with guest contributions from ONE volunteers, members and allies.
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