“Vulture Fund” Company Seeks$40 Million Payment from Zambiaon $4 Million Debt

By Kavita Puri
Programme producer, BBC Newsnight
VULTURE FUNDS
Remember Make Poverty History that campaigned to cancel third world debt? And the lofty proclamations by politicians at the G8 in Gleneagles to reduce debt?
Tonight, we have a shocking investigation into vulture funds that make a mockery of these pledges. These companies buy up the debt of poor nations cheaply – when it is just about to be written off – and then sue for the full value of the debt plus interest.
Tomorrow morning a high court judge in London will rule whether a vulture fund can extract more than $40 million from Zambia for a debt which it bought for just $3 million.
Investigative reporter Greg Palast has tracked down the man who represents the company, and you couldn't make it up, he calls himself Goldfinger.
Watch the BBC Newsnight report

Greg Palast has written four New York Times bestsellers, including Armed Madhouse, Billionaires & Ballot Bandits, and The Best Democracy Money Can Buy, now a major non-fiction movie, available on Amazon ”” and can be streamed for FREE by Prime members!

Stay informed, get the signed DVD of the updated, post-election edition of The Best Democracy Money Can Buy: The Case of The Stolen Election, a signed copy of the companion book ”” or better still, get the Book & DVD combo.

Support The Palast Investigative Fund  and keep our work alive!  Become a monthly contributor and automatically receive Palast's new films and books when they're released!

Or support us by shopping with Amazon Smile. AmazonSmile will donate 0.5% of your purchases to the Sustainable Markets Foundation which automatically goes to the benefit of The Palast Investigative Fund and you get a tax-deduction! More info .

Subscribe to Palast's Newsletter or his special list for Poems & Stories.

GregPalast.com