In the 1990s, Irish singer Bob Geldof and friends campaigned to “drop the debt,” in an effort to alleviate the economic struggles of developing nations.
A decade later, €122 billion of debt was cancelled for 36 countries by G7 finance ministers.
Fast forward to 2022, a different kind of debt cancellation is on the cards.
‘Debt-for-nature’ swaps could see debt-ridden countries on the…