CELS launches statement challenging human rights impacts of vulture funds

Publish Date: 
Wednesday, July 30, 2014

The Center for Legal and Social Studies (CELS), in collaboration with the Center for Economic and Social Rights (CESR) and Center of Concern (COC), has released a statement regarding the conflict between the government of Argentina and vulture funds, implicating the judicial branch of the USA, calling attention to the impact on human rights.

The text explains how “the actions of vulture funds represent one of many expressions of the injustice inherent in the global financial system” and ask for an urgent collective action to enact laws that restrict the predatory activities of creditor funds, among others.  

The statement received more than 100 endorsments from different organizations all over the world.  Please read the statement and find a list of organizations that endorsed it here

For years, Argentina has fought hedge funds which rejected large write-downs. However, after exhausting legal avenues, Argentina faces default if it cannot reach a last-minute deal.

Photo credit: REUTERS/Enrique Marcarian