Luy told Daily News Egypt that the value of the debt swap
reached e1/4240m, elaborating that the programme had been in place between the two countries but had been suspended due to economic conditions and that both parties were seeking to resume the programme.
The Zambian central bank is said to be considering China debt swaps
in order to build its reserves.
Recognising this difficulty, the UNDP (2010) proposed multiple-creditor debt swaps to convert official sector debt repayments into climate change adaptation resources.
There is significant potential to expand debt for climate swaps as part of the post-2015 innovative financing for development strategy so that Caribbean SIDS without experience of such instruments can learn from others and the international community can ensure future debt swaps are as effective as they can be.
First, it shows South-South debt swaps can be replicated in the region, which so far has been unable to mobilise new resources to deal with high debt and climate adaptation activities.
Debt swaps are complex and time consuming and require coordination and communication with several stakeholders.
"Debt Swaps for Climate Change Adaptation and Mitigation: A Commonwealth Proposal." London: Commonwealth Secretariat.
Finnerty, J.D., 1987, "Stock for Debt Swaps
," Financial Management (Autumn), 5-17.
Although it is not a panacea for the country's debt burden - estimated at over five billion dollars - the debt swaps
have provided Madagascar with the resources with which to fund conservation programmes.
Argentina had been prevented from making payments to any holders of bonds issued in debt swaps
in 2005 and 2010 under a court ruling.
The key takeaways were that the the US$ 5.5 billion debt swap
carried out earlier this year potentially pre-finances Eurobond maturities up to and including those of April 2019.
AMMAN (Star)--The German KfW Development Bank, on behalf of the Federal Republic of Germany, signed on Wednesday a separate arrangement with the Ministry of Finance for a new debt swap
amounting to e1/410.4 million.