Seychelles preserves marine area in $30m debt-for-nature deal – The Straits Times
VICTORIA 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 nation, rich in underwater reefs and postcard-perfect beaches, defaulted on its debt in 2008…