An assessment of debt‐for‐education swaps. Case studies on swap initiatives between Germany and Indonesia and between Spain and El Salvador

A decade has passed since participants in the World Education Forum committed themselves to achieve, by 2015, the six Education for All (EFA) goals under the Dakar Framework for Action. Despite significant progress, some of the goals are likely to be missed by a large margin. Besides the absence of a well co‐ordinated multi‐donor approach in education, another major problem is the lack of funds: the EFA financing gap in low‐income countries is now estimated at around $16 billion annually. This article zooms in on debt swaps as one particular instrument of innovative financing. More specifically it assesses the macro‐economic impacts of debt‐for‐education swaps and their relation to the aid approach now advocated by the donor community. It does so on the basis of theoretical insights from debt relief and case studies on recent swap initiatives between Germany and Indonesia and between Spain and El Salvador. Our conclusions are mixed. On the one hand, typical debt swaps suffer from macro‐economic flaws and, in view of competition amongst sectors, have limited potential in narrowing the EFA deficit. On the other hand, our case studies suggest that debt‐for‐education swaps can be engineered to better comply with the needs of recipient ownership and could in the future address deserving niche problems.     

以巧破千钧 发球抢攻之近网轻击

在业余比赛中,更多的人喜欢站在底线那里等待对手的失误,但往往对手还没有失误自己却由于体力不支而先行缴械。所以对于业余球员来讲,合理运用发球抢攻战术能够节省宝贵的体力,并主动逼迫对手出现失误。     

100只猴子的品牌命名

如果你有一个坏名字,那可真是后患无穷。通用汽车的品牌“NOVA”,在英语里面好听,但在西班牙语中它是“走不动”的意思,所以在那些说西班牙语的拉丁美洲国家中这一款车无人问津     

我了解我的生活

I have heard people complain as they age of what they may have missed
Well if they complain then that is for them, because for 30 years I have had your kiss