‘Vulture fund’ Donegal International has been suing Zambia for a staggering $55 million off the back of $3.3 million of ‘bad’ debt! Thankfully their award was reduced to $15 million, but that’s still rich pickings from a poor country where people live on less than $1 a day.
Donegal International may claim a partial victory in court, but there’s an overwhelming moral case to answer. Oxfam, together with the Jubilee Debt Campaign, is calling on Michael Sheehan, the man behind Donegal to do the right thing, and not make Zambia pay up. You can make a difference – join our call.”
If Zambia needs to pay this money, they will have to take away free education for 30 000 children and medical treatment for another 100 000 people, and instead give this money to a private company and their already rich shareholders.
Read more about the issue here.
Posted by joneye 