Third World Debt. We’ve sorted it haven’t we? No! 80% of developing country debt is yet to be cancelled. This means millions of people, in some of the poorest countries around the world, are paying for the mistakes of their nations past with their lives as their leaders have to pay off debts, rather than pay to build the basis of a fair and equitable state.
This Friday MPs have a chance to continue to answer our cry for Justice. The Vulture Funds Bill aims to limit the profit private companies can make from developing countries. It doesn’t alter the working of the debt market, as it allows private companies to buy up debt, but it does stop private companies suing for over and above the cost of the debt (and suitable costs).
The situation in Haiti has reignited the issue of debt in many peoples eyes. It is still true that Haiti, after all it has been through, owes over $800million in debt to the world. Lets ensure that private companies can’t put Haiti, or Zambia or many of the other countries threatened by action through such situations again.
Ask your MP to turn up on Friday. It will take only 100 MPs voting ‘aye’ to speed this through to the next hoop in the legislative agenda.
This isn’t just about a small act of democracy. This about ensuring that money held by countries crippled by debt is used to better their own nation. Not to line the pockets of private fund managers.
a) Vote for the Private Members Bill this Friday
b) Ask them to Sign onto to the Early Day Motion