ABSTRACT

Debt-for-Nature Initiatives and the Tropical Forest Conservation Act: Status and Implementation [Updated October 11, 2006]   [open pdf - 99KB]

"In the late 1980s, extensive foreign debt and degraded natural resources in developing nations led to the creation of debt-for-nature initiatives that reduced debt obligations, allowed for debt repayments in local currency as opposed to hard currency, and generated funds for the environment. These initiatives, called debt-for-nature swaps, typically involved restructuring, reducing, or buying a portion of a developing country's outstanding debt, with a percentage of proceeds (in local currency) being used to support conservation programs within the debtor country. […] Debt-for-nature transactions are generally viewed as a success by conservation organizations and debtor governments because of the funds generated for conservation efforts. The appeal of debt-for-nature transactions has been tempered in recent years, however, by higher debt prices on secondary markets and lower appropriations. As a result, fewer transactions have taken place. This report provides a description of debt-for-nature transactions and a summary of the Tropical Forest Conservation Act and will be updated as developments warrant."

Report Number:
CRS Report for Congress, RL31286
Author:
Publisher:
Date:
2006-10-11
Copyright:
Public Domain
Retrieved From:
United States. Department of State, Foreign Press Centers, Bureau of Public Affairs: http://www.fpc.state.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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