Tag Archives: vulture funds

Government takes action over ‘vulture funds’

When Labour were in power, Liberal Democrats regularly attacked the government for its inaction over so-called vulture funds (that is, in this context, financial funds who buy up debt from poor countries and try to make a profit out of it). For example, then International Development spokesperson Lynne Featherstone said,

Gordon Brown has said this is immoral but so far it’s been all talk and no action.

The Government needs to take a stand and use its influence in the IMF to help devise an internationally binding system to ensure companies can’t prey on heavily indebted developing countries in this way.

The

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The coalition agreement: international development

Welcome to the twelfth in a series of posts going through the full coalition agreement section by section. You can read the full coalition document here.

International development has been one of the totemic policy areas which David Cameron chose to show how he was changing the party. As a result, just as a promise to increase spending on the NHS was used to argue that the party was changing in its attitude to public services, so too a commitment to increase spending on international aid was used to argue that the party was leaving behind its ‘nasty party’ roots.

Whatever …

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