By Ross P. Buckley
Debt-for-development exchanges are an immense financing software for improvement. They make debt reduction extra politically and essentially appealing to donor international locations, and serve the advance of recipient international locations throughout the cancellation of exterior debt and the investment of vital improvement initiatives. This e-book commences through chronicling the emergence of debt-for-development exchanges from their forebears, debt-equity exchanges, and analyzes why debt for improvement suffers from only a few of the issues that plagued debt fairness. The e-book analyzes the different sorts of debt-for-development exchanges and the several methods they've been utilized by all donor international locations that experience made use of them. The e-book then explores a number severe views on exchanges and concludes through contemplating a variety of new and leading edge makes use of for the cash generated by means of exchanges.
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Additional resources for Debt-for-Development Exchanges: History and New Applications
18. , 17–18. 111 Lambert, “Sustainable Financing”, 3. , 20. , 3. â•‡ The Madagascar Foundation Recent debt-for-nature exchanges undertaken by Madagascar demonstrate the success of trust funds as a means to secure long-term financing for environmental projects. In 2000 Madagascar was declared eligible for debt relief under the HIPC Initiative. 119 The Madagascar Foundation was established in 2005. 120 The Madagascar Foundation has continued to be funded through debtfor-nature exchanges. Most recently, in 2008, France announced a debt-fornature transaction with Madagascar, which will contribute US$20 million in funding.
Pe. 93 Paniagua, “Bilateral Debt-for-Nature Swaps”, 3. 94 Eugenio Gonzales, “Roles and Challenges for Foundations in Debt-for-Development Swaps” (Synergos Institute), 13 (copy on file with second author). 87 88 30 Buckley and Freeland Poor Countries (HIPC) Initiative or the Multilateral Debt Relief Initiative (MDRI), have continued to grow. 95 The United States has consistently used debt-for-nature exchanges as a means of financing forest conservation around the word. The three US legislative initiatives that have enabled the exchange of debt for conservation purposes are examined in detail in Chapter 4.
33 Carlos Marichal, A Century of Debt Crises in Latin America (Princeton, NJ:Â€ Princeton University Press, 1989); Werner Baer and Kent Hargis, “Forms of External Capital and Economic Development in Latin America:Â€1820–1997”, World Development 25 (November 1997):Â€1805–1820. 2 Debt-for-Nature Exchanges Ross P. â•‡ Introduction The idea of debt-for-nature exchanges was first proposed in 1984, following the groundwork laid by debt–equity schemes. â•›. 3 Lovejoy emphasised the correlation between developing country indebtedness and environmental degradation 4 and encouraged environmental nongovernmental organisations (NGOs) to investigate using the developing country secondary debt market to finance conservation projects.
Debt-for-Development Exchanges: History and New Applications by Ross P. Buckley