Sharon Kokenes

Debt-for-nature Swaps - Conservancy or Cemetery?: Ngos Reduce Foreign Debt / Save Environments Sharon Kokenes

A question that 21st century politicians and policy makers must answer is whether the diversity of species that existed before mankind will be preserved or succumb to the self-interests and power of policymakers. Is there global ecological apathy or can we transcend national political boundaries to protect our environment? The purpose of this study is to determine if debt-for-nature swaps (DNS) are a viable option in saving species and ecosystems. A review of 24 completed DNS between 1988-2004 by World Wildlife, The Nature Conservancy and Conservation International were reviewed. The countries involved: Bolivia, Colombia, Costa Rica, Ecuador, Jamaica, Madagascar, Panama, Peru and Philippines were selected as they represent a cross section geographically. The amount of debt varied from $119,000 to $19,000.000 (US dollars). The NGO?s pay off a portion of the foreign debt at a discount and the money saved is invested in environmental preservation. The country involved retains sovereignty of the ecological project. Man needs to learn how to coexist with the various ecosystems that were here before mankind, and how to preserve the biodiversity for generations yet to come.