Last week a landmark bill to protect the world’s poorest countries from profiteering by vulture funds became law in the UK. The Debt Relief (Developing Countries) Bill is the world’s first law to restrict the ability of Vulture Funds to sue some of the world’s poorest countries for full repayment of debts that they have bought up cheaply.
In the United States, Jubilee USA Network, of which MCC is a member, continues its campaign to stop Vulture Funds from preying on impoverished countries.
The Stop VULTURE Funds Act (HR 2932) is a bill in the U.S. House of Representatives that would prevent vulture funds from making excessive profit off the debt of the world’s poorest nations. The bill was re-introduced by Representatives Maxine Waters (D-CA) and Spencer Bachus (R-AL). Click here to send an email in support of the bill.