Debt for Nature Swap . Debt Crisis . During the 1980’s Latin America experience debt crisis International Monetary Fund and World Bank came in and put major constraints Decrease government spending Less imports/more exports Eliminate subsides Baker and Brady Plan in late eighties Etc. .
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Debt for Nature Swap
A mechanism of exchange in which a certain amount of the debtor’s foreign debt is canceled or forgiven in return for local currency from the debtor government to invest in a domestic environmental protection project.
More that $40 million has been invested in these programs
First swap was between Bolivia and Conservation International which was a cancellation of $650,00 Bolivian debt in exchange for $100,000 in local currency
Amount of debt cancelled: $14.3 million over 16years