The Bill seeks to limit the amount that can be recovered by any commercial creditor of those countries designated as having unsustainable external debts. The legislation would restrict the activities of so-called 'vulture funds', which buy developing countries' sovereign debt at discounted prices, then seek to recover its value in full through the courts. It would limit successful claims to an internationally agreed level and apply equally to all commercial creditors. It would cover the 40 countries in the IMF/World Bank Heavily Indebted Poor Countries (HIPC) initiative. Debts incurred after the Bill's entry into force would be excluded.
Debt Relief (Developing Countries) Bill [Bill 17 of 2009-10] (517 KB , PDF)
The Bill seeks to limit the amount that can be recovered by any commercial creditor of those countries designated as having unsustainable external debts. The legislation would restrict the activities of so-called 'vulture funds', which buy developing countries' sovereign debt at discounted prices, then seek to recover its value in full through the courts. It would limit successful claims to an internationally agreed level and apply equally to all commercial creditors. It would cover the 40 countries in the IMF/World Bank Heavily Indebted Poor Countries (HIPC) initiative. Debts incurred after the Bill's entry into force would be excluded.
Debt Relief (Developing Countries) Bill [Bill 17 of 2009-10] (517 KB , PDF)
In response to Russian military action in Ukraine, Western allies and other partners across the globe have imposed an unprecedented package of coordinated sanctions against Russia. What has been announced so far and are further measures likely? This briefing paper should be taken as correct at the time of writing.
International Inflation: Harmonised Index of Comsumer Prices data on international inflation rates.
This page features Commons Library publications relevant to the current crisis in Ukraine.