Oral Answers to Questions Debate
Full Debate: Read Full DebateDepartment: Foreign, Commonwealth & Development Office
Preet Kaur Gill
Main Page: Preet Kaur Gill (Labour (Co-op) - Birmingham Edgbaston)Department Debates - View all Preet Kaur Gill's debates with the Foreign, Commonwealth & Development Office
Oral Answers to Questions
Preet Kaur Gill Excerpts(2 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
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.