Debt-for-Development Exchanges: An Innovative Response to the Global Financial Crisis
University of New South Wales Law Journal, Vol. 32, pp. 620-645, 2009
25 Pages Posted: 5 Apr 2010
Date Written: April 3, 2010
Debt-for-development exchanges matter. They make debt relief more politically and practically attractive to donor countries, and serve the development of recipient countries through the cancellation of external debt and the funding of important development projects. This article explores one of the more effective techniques available to richer nations to assist those less fortunate than themselves. This technique is of particular importance for the many lesser-developed nations excluded from multilateral debt relief initiatives. This article looks at recent developments in debt-for-development exchanges initiated by European countries, specifically Switzerland, Italy, Spain, France, Germany and Norway.
Keywords: Law and Economics, Debt-for-development exchanges
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