"Despite these obstacles, potential exists for the use of debt conversion and other innovative financing techniques to support overseas development. While the issues examined in this report are quite complex, they do have an important impact on the budget and foreign policies of the U.S. and should therefore be carefully examined to maximize the benefits to all concerned parties ... In particular, the authors suggest that the following actions be undertaken:
- Thorough study by the U.S. Government of the costs and benefits of a comprehensive program to discount existing Ex-Im Bank and/or USAID claims on developing countries;
- Careful examination by the U.S. Government of the approaches of other creditor governments to converting and reducing their outstanding claims on developing countries;
- Harmonization of the policies of Ex-Im Bank, USAID, Treasury, and other U.S. agencies for valuing outstanding claims on developing countries."
Overall, the paper exemplifies the concerns DAI has about ensuring sustainable development in countries with emerging market funds. Learn more about DAI and read the full paper here.
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