Definition: Debt swaps

Category: External debt - IMF

Debt swaps are exchanges of debt, such as loans or securities, for a new debt contract (that is, debt-to-debt swaps), or exchanges of debt-for-equity, debt-for- exports, or debt-for-domestic currency, such as to be used for projects in the debtor country (also known as debt conversion). http://ec.europa.eu/eurostat/ramon/statmanuals/files/external_debt_guide_2003_EN.pdf#page=255