Term:
Debt-for-charity swap
Definition:
The purchase by a nonprofit organization such as a non-governmental organization (NGO) of the external debt of a country at a discount in the secondary market, which the NGO then exchanges for local currency to be used for philanthropic purposes.
Domain:
Finance
Source:
IMF, 2003, External Debt Statistics: Guide for Compilers and Users – Appendix III, Glossary, IMF, Washington DC
