Australia looks set to participate in its first ever debt swap - turning Indonesian debt into funds for health care

Australia looks set to participate in its first ever debt swap - turning Indonesian debt into funds for health care

Release Date: 13-Feb-2008

The new Labor Government has pledged to make Australia only the second creditor to take part in Debt2Health, joining Germany in converting a portion of monies owed to Australian by Indonesia into funds for programs to fight AIDS, TB and Malaria. This foreshadows a significant policy shift in Australian international development financing and international development cooperation.