The impact of high levels of debt on development efforts “cannot be overstated”, the head of the United Nations Development Fund (UNDP) told a Ministerial Breakfast Meeting on least developed countries (LDCs) on Saturday.
A United Nations human rights expert today urged Jersey to enact laws to restrict the ability of so-called “vulture funds” to use the British crown dependency’s courts to sue heavily indebted poor countries.
Nationalist or populist policies are not the answer to the debt crisis engulfing many European countries, Slovakia’s Prime Minister told the United Nations today, urging governments on the continent to ensure their actions do not jeopardize the cause of greater European integration.
A United Nations human rights expert today welcomed the United Kingdom’s decision to limit lawsuits from so-called vulture funds that prey on the debts of the world’s poorest nations, and asked that the initiative be extended to cover the country’s overseas territories and dependencies.
A United Nations human rights expert on foreign debt today welcomed a landmark debt relief law in the United Kingdom which limits the ability of so-called “vulture funds” to sue the world’s poorest countries in British courts for repayment of debts, saying they could have ramifications for a recent court verdict involving Liberia.
An independent United Nations expert today stressed the need for creditor and debtor nations to work closely and openly to promote responsible financing and ensure the fair and transparent management of foreign debt.
Experts gathered in Dakar, Senegal, have concluded that the international community's financing of African debt relief is an important way of funding the Millennium Development Goals (MDGs) designed to eliminate extreme poverty by 2015, the United Nations Economic Commission for Africa (ECA) said today.