Abstract
The relatively new concept of debt-for-nature swaps is intended to take account of the connection between the indebtedness of developing countries and the destruction of the environment taking place there, the consequences of which are increasingly also perceived as a threat in the industrial countries. The idea has now been put to the test in practive in a number of cases. Against that background, the authors of this article point out the areas of potential and the limitations of debt-for-nature swaps.
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Reprinted in: International Herald Tribune, 14th October 1984, p. 6.
Cf. Gerrit Tammes: Debt-for-Nature Conversion: What Limits Their Further Growth?, in: International Environmental Affairs, No. 2, 1990, p. 154.
Ibid. Cf. Gerrit Tammes, Debt-for-Nature Conversion: What Limits Their Further Growth?, in: International Environmental Affairs, No. 2, 1990. p. 154.
Cf. Rodney Wagner: Doing More with Debt-for-Nature Swaps, in: International Environmental Affairs, No. 2, 1990, p. 163.
Cf. Paul Lerbinger: Finanzinnovationen und Schuldenkrise, in: Die Bank, No. 11, 1987, p. 594.
Cf. ibid., Paul Lerbinger: Finanzinnovationen und Schuldenkrise, in: Die Bank, No. 11, 1987, p. 595.
Cf., e.g., Anon.: Fishmeal? That'll Do Nicely, in: Euromoney, No. 6, 1988, p. 149.
Cf. Konrad von Moltke: Debt-for-Nature: An Overview, World Wildlife Fund (no place and date), pp. 1 ff.
Cf. ibid., Konrad von Moltke: Debt-for-Nature: An Overview, World Wildlife Fund (no place and date), p. 2.
According to estimates made by Morgan Guaranty, the average cost of raising $200 million via debt-for-nature swaps is approximately $50 million; cf. Rodney Wagner, op. cit., Doing More with Debt-for-Nature Swaps, in: International Environmental Affairs, No. 2, 1990, p. 163.
cf. NMB Bank: Asset Trading and Debt Conversion, Amsterdam, June 1988, p. 9.
Cf. Jonathan Burton: Back to Nature—The Financial Way, in: The Banker, No. 12, 1988, p. 23.
Cf. Nancy Dunne: Brazilian nature groups form consortium, in: Financial Times, 22nd August 1990, p. 6.
Cf. Ed Paisley: Nature Swap Near in Panama, in: American Banker, No. 64, 1990, p. 12.
The following details were obtained from internal WWF information.
Cf. Dieter Oberndörfer: Schutz der tropischen Regenwälder durch Entschuldung, Munich 1989, p. 24.
Cf. Alvaro Umaña Queseda: Banks, Debt, and Development, in: International Environmental Affairs, No. 2, 1990, p. 146.
Cf. ibid., Alvaro Umaña Queseda: Banks, Debt, and Development, in: International Environmental Affairs, No. 2, 1990, pp. 146 f.
Cf. Paul-Günther Schmidt: How to Pay for the Debt—Coping with the Third World's Crisis, in: INTERECONOMICS, No. 1, 1990, p. 7.
Cf. Laura Caldwell: USA: Debt-for-Nature Swaps a Superficial Answer to a Complex Problem, in: Christian Science Monitor, 11th September 1990, p. 19; and Tamara Hrynik: Debt-for-nature Swaps: Effective But Not Enforceable, in: Case Western Journal of International Law, Winter 1990, p. 161.
Cf. Gerrit Tammes, op. cit., Debt-for-nature Conversion: What Limits Their Further Growth?, in: International Environmental Affairs, No. 2, 1990, p. 154.
Cf. NMB Bank, op. cit., Asset Trading and Debt Conversion, Amsterdam, June 1988, p. 4.
Cf. Deborah K. Burand and Carol Barton: Les échanges dette/environment: une contribution originale mais controversée à la réduction de l'endettement, in: Problèmes économiques, No. 2139, 6th June 1989, p. 21. This problem has already come to a head in the case of the native Indian population in Bolivia; cf. Kenneth Warn: Tribes march against debt swap, in: Financial Times, 2nd August 1990, p. 4.
Cf. Konrad von Moltke, op. cit., Debt-for-Nature: An Overview, World Wildlife Fund (no place and date), p. 6.
Cf. Gerrit Tammes, op. cit., Debt-for-Nature Conversion: What Limits Their Further Growth?, in: International Environmental Affairs, No. 2, 1990, p. 156.
Cf. Konrad von Moltke, op. cit., Debt-for-Nature: An Overview, World Wildlife Fund (no place and date), p. 4.
Cf. Anant Sundaram: Swapping Debt for Debt in Less-Developed Countries. A Case Study of a Debt-for-Nature Swap in Ecuador, in: International Environmental Affairs, No. 1, 1990, p. 74.
Cf. Gerrit Tammes, op. cit., Debt-for-Nature Conversion: What Limits Their Further Growth?, in: International Environmental Affairs, No. 2, 1990. p. 157.
Cf. World Resources Institute: Natural Endowments: Financing Resource Conservation for Development, International Conservation Financing Report, Washington, D.C. 1989, p. 2.
Cf. Alvaro Umaña Queseda, op. cit., Banks, Debt, and Development, in: International Environmental Affairs, No. 2, 1990, p. 142 and James Kraus: Debt-for-Nature Swaps Gain Momentum, in: American Banker, No. 49, 1990, p. 15.
Cf. William Reilly: Debt-for-Nature Swaps: The Time Has Come, in: International Environmental Affairs, No. 2, 1990, p. 136.
Henner Ehringhaus: Introduction to the European Conference on Debt and Conversion, in: International Environmental Affairs, No. 2, 1990, p. 132.
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Rosebrock, J., Sondhof, H. Debt-for-nature swaps: A review of the first experiences. Intereconomics 26, 82–87 (1991). https://doi.org/10.1007/BF02929541
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DOI: https://doi.org/10.1007/BF02929541