U.S. Cancels Portion of Brazil’s Debt in Exchange For Forest Protection

deforested-field-amazon
If only Visa treated my debt the way the U.S. is treating debt from developing countries. On Friday, the Obama Administration announced that it will cancel debt from Brazil in exchange for forest protection. The U.S. has done the same for Bangladesh, Belize, Botswana, Colombia, Costa Rica, El Salvador, Guatemala, Indonesia, Jamaica, Panama, Paraguay, Peru, and the Philippines. Deforestation accounts for about 20 percent of global warming emissions, making zero deforestation a priority in places like Brazil and Indonesia, which rank third and fourth for GHG emissions, respectively…
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