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Preet Kaur Gill
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Oral Answers to Questions
Preet Kaur Gill Excerpts(1 year, 7 months ago)
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Preet Kaur Gill (Birmingham, Edgbaston) (Lab/Co-op)
Last week, the Minister said:
“A time when crises are everywhere, but leadership is not. When we can save a bank in California in three days, but Zambia waits more than two years for debt relief.”
I agree. However, the Minister knows that 90% of international bonds owed by countries eligible for the common framework are governed by English law, so what leadership is he demonstrating to ensure vulture funds cannot block debt-restructuring processes by simply refusing to come to the table?
Mr Mitchell
The hon. Lady makes a very good point. I am flattered that she has read the speech I gave at Chatham House last Thursday. We are extremely concerned about the use of vulture funds, and Britain has been the lead country in trying to clamp down on them. I assure her that we will continue with that work.