Debt for Nature Swaps in Latin America
Latin America is currently in a debt crisis. Poor management, over lending by banks, and a bad turn in the world economy has produced severe debt that is forcing these countries to exploit their natural resources in an attempt to ease their economic problems. However, many individuals and organizations have seen a silver lining to this cloud and are now buying debts (at a discounted rate) and giving them back to the debtor countries in return for environmental protection. Although increasingly difficult to achieve, these debt for nature swaps are beneficial to the debtor country and the world. So why do we go to all this trouble for a few countries that are not even big players in the world market? I discovered that we loose about 40 million acres of forest each year and 27 million of that is tropical rain forrest. (White house fact sheet on the President’s Proposal for a Global Forest Convention). Considering that the world’s forest act as respiration, filtration, and cooling system, we must make a concerted effort to conserve and start repairing the damage we have already done. A large part of the worlds forest rest in the debt ridden counrties of Latin America. In an attempt to repay these huge debts, countrie
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Some common words found in the essay are:
Latin America, Title VI, Latin Americas, Latin American, Bank IMF, Convention Considering, FOREST SERVICE, United Nations, debtor nation, latin america, debt nature, debt-for-nature swaps, government organization, Conservation International, debtor country, debt converted, environmental protection, nature swaps, local government, debt nature swaps, latin american countries, debt nature swap, conservation latin america, usda forest service, MIKE WEBB,
Approximate Word count = 4672
Approximate Pages = 19 (250 words per page double spaced)
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