Sign the global statement of support for Argentina as it takes on vulture funds in the United States.
Profiteering from debt crisis
Argentina’s economy is being held to ransom by a small handful of very wealthy speculators – so-called ‘vulture funds’. Last year a court in New York awarded two US vulture funds a $1.3 billion payout on debts dating back to Argentina’s debt crisis of 2001.
The vulture funds bought up billions of dollars worth of Argentina’s debt in the early 2000s when the country’s economy was on its knees and its people were suffering horrendous poverty. Defaulting on its debts was the only option. 93% of lenders agreed to reduce Argentina’s debt burden, and the country’s economy has recovered. But vulture funds have spent more than a decade demanding the full amount plus interest and penalties.
The decade-long legal battle has been called ‘the sovereign debt trial of the century’. Argentina is now appealing to the US Supreme Court.
We believe there is no ethical justification for Argentina making this payment. These ‘vulture funds’ never lent money to Argentina – they are profiteering from a country in debt crisis. Please sign our global statement of support for Argentina’s right to refuse to pay.
Sign the statement
Add your name to the global statement of support now. We will deliver a copy to Argentina’s Ambassador. (Feel free to change the ‘country’ if you’re not in the UK)
Signatures so far