Liberia tussles with foreign debtors
- 12 years ago
Ellen Johnson-Sirleaf, Liberia's president, has appealed to foreign debtors to allow her country time to emerge from a 25-year economic decline before attempting to recover millions of dollars owed by the country.
Her appeal came as part of an attempt to fend off the advances of a so-called "vulture fund", a company that buys up bad debts of poor governments before going to court to try to get the money back.
The Caribbean-based fund is trying to collect $20m from Liberia for a $6m loan that dates back to the 1970s.
Al Jazeera's Yvonne Ndege reports on the case from Monrovia.
Her appeal came as part of an attempt to fend off the advances of a so-called "vulture fund", a company that buys up bad debts of poor governments before going to court to try to get the money back.
The Caribbean-based fund is trying to collect $20m from Liberia for a $6m loan that dates back to the 1970s.
Al Jazeera's Yvonne Ndege reports on the case from Monrovia.