Seychelles for sale: Island nation sets up two protected marine zones in exchange for international debt relief – Telegraph.co.uk

It sounds like a far-fetched concept from a movie – an ecological project which sees a remote country trade some of its unspoiled “terrain” for a financial aid package that is backed by four of the planet’s most significant economies and a world-famous film star. But the plan which is currently taking shape in the…

Seychelles preserves swathes of marine territory in debt-for-nature deal – Reuters

VICTORIA (Reuters) – The island nation of Seychelles designated some of its fragile coastal areas for protection from commercial fishing, oil exploration and development this week in return for a novel deal relieving it of part of its sovereign debt. The Indian Ocean island, rich in underwater reefs and postcard-perfect beaches, defaulted on its debt…

Citigroup Drove Puerto Rico Into Debt. Now It Will Profit From Privatization on the Island. – The Intercept

One of the same banks that drove the Puerto Rico Electric Power Authority, or PREPA, into the red will now be paid to help auction it off to the highest bidder. Citigroup Global Markets Inc., or Citi, will be the main investment bank consultant in the restructuring and privatization of PREPA, the Washington-appointed Fiscal Control…