单词 | debt swap |
释义 | debt swap(also debt-for-nature swap) noun An arrangement whereby a foreign debt owed by a developing country is transferred to a particular organization, typically in return for the country’s committing itself to specified conservation measures.Indeed, local banks and pension funds may be wagering that an orderly restructuring - which is what the debt swap really is - is preferable to a messy default that would leave investors much worse off....
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