Only we have the power to stop vulture funds taking the world’s poorest countries to court
Over 50 of the world's poorest countries are facing a severe debt crisis, with many spending more on debt interest than on essential public services like education. UK law currently enables private lenders, including vulture funds, to sue these nations in UK courts, exacerbating the crisis. The UK government has a unique opportunity to act through legislation that could help protect these countries without cost to taxpayers.
- ▪More than 25 African countries spend more on foreign debt interest than on education.
- ▪Private creditors, including UK-based hedge funds, often refuse to restructure debts on terms comparable to official lenders.
- ▪The UK legal system allows vulture funds to pursue profitable litigation against debt-distressed nations.
- ▪Debt relief in the 2000s led to a significant increase in primary school completion rates in affected countries.
- ▪There is currently no robust mechanism to ensure private creditors participate in fair debt relief negotiations.
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NewsUKUK PoliticsCommentOnly we have the power to stop vulture funds taking the world’s poorest countries to courtUniquely placed to intervene with legislation – at zero cost to the UK taxpayer – the clock is ticking for this government to stand by the poorest countries in the world, writes MP Bambos CharalambousTuesday 28 April 2026 12:19 BSTBookmarkCommentsGo to commentsBookmark popoverRemoved from bookmarksClose popover{"translations":{"comments":"Go to comments","share":"Share","copyLink":"Copy link","bookmark":"Bookmark","removeBookmark":"Remove bookmark"},"showComments":true,"showBookmark":true,"articleId":"b2966357","articleMeta":{"url":"https://www.independent.co.uk/news/uk/politics/uk-debt-pay-africa-aid-b2966357.html","title":"Only we have the power to stop vulture funds taking…
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