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U.S. Swaps Guatemalan Debt for Forest Protection

U.S. Swaps Guatemalan Debt for Forest Protection
The United States will forgive about 20 percent of the $122 million debt owed by Guatemala so the money can be used to protect threatened plants and wildlife, said the government yesterday.

"The United States will forgive about 20 percent of the $122 million debt owed by Guatemala so the money can be used to protect threatened plants and wildlife." It's thanks to a 1998 law, the Tropical Forest Conservation Act, "which allows debt owed to the United States to be invested in protecting the environment." $24 million will now serve to protect species and land. (Oct 2, 2006, Reuters)

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