Campaigners like you have fought against the unfair debts that crippled some of the world’s poorest countries. We rightly celebrated when debt relief helped lift some of this burden.
Now that progress is under threat.
Vulture funds make money by buying up old debt against developing countries, and using the courts to sue them for it in order to reap massive profits. That’s just wrong.
The problem is, that while the vulture funds law brought in the UK last year finally stopped this activity happening here, this doesn’t currently extend to Jersey.
Sign up now to ask the Chief Minister of Jersey to extend the UK law to their courts too.
Right now, vulture fund FG Hemisphere is using Jersey’s courts to claim $100m from the Democratic Republic of Congo, on a debt thought to have been bought for $3.3m.
After having much of their debt cancelled by the IMF and World Bank just last year, the impact that this will have on the DRC, and people living in extreme poverty, is just unimaginable. This shouldn’t be happening – let alone so close to home.
Join ONE and the Jubilee Debt Campaign UK in asking Jersey’s Chief Minister to take a stand, by extending the law that already exists here in the UK. It’s simply not right to turn a blind eye.
Thanks for your support on this, and please ask your friends to sign up too.