The IMF wants poor countries’ debt erased in exchange for climate action ...Middle East

Quartz - Economy

In 2011, the Seychelles, an archipelago nation of 100,000 people in the Indian Ocean, decided it should do more to protect the marine ecosystems that comprise 99% of its territory. There was just one problem: The country was broke, staggering under more than $900 million in debt (nearly equal to its GDP) to France and other European sovereign lenders.So the government approached The Nature Conservancy, the US environmental nonprofit, with an idea to chip away at that debt—or at least make it work in the country’s favor. TNC could buy a small portion of that debt, erase some of it, and channel the rest into conservation programs.TNC roped in a few funders and agreed, eventually assuming $21.6

Hence then, the article about the imf wants poor countries debt erased in exchange for climate action was published today ( Friday 09/07/2021 - 06:15 PM ) and is available on Quartz ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( The IMF wants poor countries’ debt erased in exchange for climate action )

Last updated : 09 July 2021 clock 06:15 PM

Also on site :

The IMF wants poor countries’ debt erased in exchange for climate action ...Middle East

Last-minute rush for taxpayers with just hours before self-assessment deadline

Bybit svela la sua Vision 2026 come "La nuova piattaforma finanziaria", espandendosi oltre l'Exchange e diventando un'infrastruttura finanziaria globale

Symmetry Systems Powers Ahead with New AI-Powered Classification Features and Open Source Taxonomy

Midmark RTLS launches BLE Sensory Network for smarter, scalable RTLS

Trump taps career staffer to lead statistics agency whose chief he fired

Who Is Trump’s New Fed Chair Pick?

NAMI Announces $59 Million Gift From Philanthropist MacKenzie Scott

CleanSpark Executives to Discuss Q1 2026 Financial Results Via Webcast

EcoPlum Recertified for Sixth Year by Nationally Recognized WBENC

OneStream Announces Timing of its Fourth Quarter and Full-Year 2025 Financial Results

Trump says U.S. will decertify Canadian-made planes, threatens 50% tariff

Brown Plus Ranked One of AM Best's 2025 Top Audit Firms of Property and Casualty Insurers in the U.S.

Why Venezuela’s Oil Comeback Is Proving Harder Than Trump Expected

Groundhog Day Is Uncertain. Access to Inclusive Mental Health Care Shouldn't Be. Monarc LLC is the FIRST mental health clinic in Maryland designed solely to address the needs of the disabled

EU Weighs Scrapping Russia Oil Price Cap for Harder Sanctions