Dept Abolition and Conservation Swaps - Costa Rica and USA
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- Created by: Jenny Henry
- Created on: 07-06-13 14:44
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- Debt Abolition and Conservation Swaps - Costa Rica and USA
- Benefits for Costa Rica
- Less dept to pay
- Can spend more money on development - healthcare, education
- So people can have a better standard of living - get better jobs
- More people paying TAX which can be reinvested into the country
- So people can have a better standard of living - get better jobs
- Benefits for USA
- Costa Rica begin to pay more dept off - possibly due to their new ecotourism scheme
- Mot of Costa Rica's money goes to MNC's which come from MEDC'S so they develop
- Particularly chemical / pharmaceutical companies which produce medicines and sell them - MNC - MEDC
- Very good reputation for the country
- Sometimes agreements are made for trade between the two countries
- What happened?
- Costa Rica has huge areas of tropical rainforest - some of the most biodiverse environments in the world
- In 2007, Costa Rica's dept to the USA was $90million
- Costa Rica agreed to spend $26million to increase the area of protected forest, support local communities and encourage ecotourism
- In return the US Government and conservation groups will cut Costa Rica's depts by the same sum
- Benefits for Costa Rica
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