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"Vulture Fund" Company Seeks $40 Million Payment from Zambia on $4 Million Debt
“Vulture fund” companies buy up the debt of poor countries at cheap prices, and then demand payments much higher than the original amount of the debt, often taking poor countries to court when they cannot afford to repay. Investigative journalist Greg Palast reports on one company trying to collect $40 million from the government of Zambia after buying its debt for $4 million. [includes rush transcript]
