Debt-for-development Exchanges as a Means to Enhance the Security of Australia and the Region

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When Australia currently cancels debts owed to it by poor countries it has little control over how the money saved will be spent. Debt-for-development exchanges offer Australia this control while preserving the sovereignty of the recipient countries. Yet Australia has never undertaken an exchange. Seven other nations have used this technique effectively to achieve developmental ends. We will analyse their experiences to provide a road map for Australia to use this technique to achieve security-enhancing and developmental outcomes.