Last year a coup d’état in Gabon threatened to derail a new trend in financing global conservation and climate protection projects. The small central African nation, the Bank of America and the US environmental organisation The Nature Conservancy (TNC) had reached a deal with the government to refinance the country’s massive sovereign debt in a so-called debt-for-nature swap (DNS). However, the military coup in late August 2023 highlighted the risks associated with such international debt restructuring. Accordingly there was great relief among creditors when the new regime made the ...
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