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Debt-for-nature swaps: A case study of Gabon

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  • Simeth, Nagihan

Abstract

Originating in the late 1980s, debt-for-nature swaps have recently gained increased relevance, particularly for emerging market countries facing high debt levels. Recent transactions, such as those in Seychelles, Belize, Barbados, Ecuador, and Gabon, have primarily focused on marine protection. Although these swaps offer potential benefits, they also present challenges, such as high transaction costs, lengthy negotiation processes, and risks like bluewashing because of the lack of standardized oversight. In this paper, using Gabon's recent example, we discuss the weaknesses and limitations of debt-for-nature swaps.

Suggested Citation

  • Simeth, Nagihan, 2025. "Debt-for-nature swaps: A case study of Gabon," Emerging Markets Review, Elsevier, vol. 65(C).
    • Handle: RePEc:eee:ememar:v:65:y:2025:i:c:s1566014124001390
    DOI: 10.1016/j.ememar.2024.101244
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    References listed on IDEAS

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    1. Stephanie Fontana-Raina & Sebastian Grund, 2024. "Debt-for-nature swaps: the Belize 2021 Deal and the future of green sovereign finance," Capital Markets Law Journal, Oxford University Press, vol. 19(2), pages 128-151.
    2. Occhiolini, Michael, 1990. "Debt for nature swaps," Policy Research Working Paper Series 393, The World Bank.
    3. Mr. Marcos d Chamon & Erik Klok & Mr. Vimal V Thakoor & Mr. Jeromin Zettelmeyer, 2022. "Debt-for-Climate Swaps: Analysis, Design, and Implementation," IMF Working Papers 2022/162, International Monetary Fund.
    4. Xiaoyi Jiang & Hao Cao, 2024. "Implementing the debt-for-nature swaps for marine protected areas: case studies from Seychelles and Belize," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-9, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Debt-for-nature swap; Blue bond; Emerging market debt;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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