Debt-for-development exchanges are an important financing tool for development. They make debt relief more politically and practically attractive to donor countries and serve the development of recipient countries through the cancellation of external debt and the funding of important development projects. This book commences by chronicling the emergence of debt-for-development exchanges from their forebears, debt-equity exchanges, and analyzes why debt for development suffers from very few of the problems that plagued debt equity. The book analyzes the different types of debt-for-development exchanges and the different ways they have been used by all donor nations that have made use of them. The book then explores a range of critical perspectives on exchanges and concludes by considering a wide range of new and innovative uses for the funds generated by exchanges.

Ross P. Buckley is a Professor of Law at University of New South Wales, a Fellow of the Asian Institute of International Financial Law of the University of Hong Kong, and a Fellow of Australia21, a national research organization. He is the founding series editor of the Global Trade Law Series; series co-editor of the International Banking and Finance Law Series, and founding editor of the Overseas Law column in the Australian Law Journal. He has written or edited eight books, and authored more than 90 book chapters and articles.