Jump to ContentJump to Main Navigation
Sovereign Debt at the CrossroadsChallenges and Proposals for Resolving the Third World Debt Crisis$
Users without a subscription are not able to see the full content.

Chris Jochnick and Fraser A. Preston

Print publication date: 2006

Print ISBN-13: 9780195168006

Published to Oxford Scholarship Online: May 2006

DOI: 10.1093/0195168003.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 19 February 2020

Using International Finance to Further Conservation: The First 15 Years of Debt-for-Nature Swaps

Using International Finance to Further Conservation: The First 15 Years of Debt-for-Nature Swaps

Chapter:
(p.197) 9 USING INTERNATIONAL FINANCE TO FURTHER CONSERVATION: THE FIRST 15 YEARS OF DEBT-FOR-NATURE SWAPS
Source:
Sovereign Debt at the Crossroads
Author(s):

William K. Reilly

Publisher:
Oxford University Press
DOI:10.1093/0195168003.003.0010

This chapter examines debt-for-nature swaps and their potential for offsetting sovereign debt. Debt-for-nature swaps originated in the 1980s as a way of preserving natural areas in the developing world while at the same time reducing the external debt of the host country. The win-win nature of this type of transaction created many potential applications, and the US Congress and other national legislatures soon passed legislation enabling billions of dollars worth of swaps to take place. However, that potential was never realized. Legislative mandates were not funded, developing countries became suspicious of swaps as they believed they posed a threat to their sovereignty, and an improvement in debt markets reduced the attractiveness of swap economics. It is argued that although swaps are not a panacea for either debt reduction or environmental protection, they offer a concrete tool to promote both ends, and tremendous potential for swaps still exists.

Keywords:   debt-for-nature swaps, government debts, sovereign debt, environmental protection, debt reduction

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .