The Government took action today to prevent creditors from exploiting the poorest countries in the world through the UK courts. Legislation to make permanent The Debt Relief (Developing Countries) Act 2010 was passed in the House of Commons today. The legislation will stop creditors, including so-called “Vulture Funds”, from using the UK courts to extract harsh and inequitable payments from poor countries for debts that the companies may in some cases have bought for a fraction of the cost. The Act could save poor countries an estimated £145m over six years. The original Debt Relief (Developing Countries) Act 2010 was … Continue reading The Debt Relief (Developing Countries) Act 2010 passed today