24 March 2010

Thanks to your campaigning, the UK became the first state to ban the Vulture Funds that profit from debt-distressed countries when the Lords passed the Debt Relief (Developing Countries) Bill. The first beneficiary may well be Liberia, which was originally required to pay over $20 milion to two Vulture Funds in a High Court case in November 2009 - a verdict which may now be unenforceable. The campaign was supported by Archbishop Desmond Tutu, President Ellen Johnson of Liveria and President Bharrat Jagdeo of Guyana.

Sally Keeble MP, who took the bill through the House of Commons, said: "These vulture funds are international predators. Their victims are the poorest people in the world. It is excell

ent that at this stage it has been possible to get this piece of legislation on to the statute books to outlaw the activities of these vulture funds. This was a victory for a broad based campaign led by Jubilee Debt and other NGOs who brought the issue to public attention.'

Click here to read the whole history of the campaign at Jubilee Debt Campaign.