Debt swapping as a tool for economic and social stabilization in Russia's closed nuclear cities

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The magnitude of Russian foreign debt, both official bilateral and commercial, compounded by collapse of the Russian economic system, is an obstacle in preventing the Russian Federation from effectively increasing the domestic priority of drawing down its nuclear weapons complex and providing a healthy, competitive environment to its nuclear cities. Debt-for-nature swaps, introduced in the early 1980s, provide debtor nations with a means of converting a portion of foreign debt into local currency, often at steep discounts, to use for purposes such as environmental protection that serve both a domestic and international need. This paper presents the debt-for-nature concept as ... continued below

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14 p.

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Fuller, JL & Leek, KM March 8, 2000.

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Description

The magnitude of Russian foreign debt, both official bilateral and commercial, compounded by collapse of the Russian economic system, is an obstacle in preventing the Russian Federation from effectively increasing the domestic priority of drawing down its nuclear weapons complex and providing a healthy, competitive environment to its nuclear cities. Debt-for-nature swaps, introduced in the early 1980s, provide debtor nations with a means of converting a portion of foreign debt into local currency, often at steep discounts, to use for purposes such as environmental protection that serve both a domestic and international need. This paper presents the debt-for-nature concept as a model for providing an infusion of funds to further U.S. and international nonproliferation objectives to help stabilize Russian closed city economic conditions through direct work on proliferation problems and remediation of the environment. A specific proposal is presented to demonstrate the utility and efficacy of the dept swap concept through initial collaboration with the city administration of Ozersk. The purpose of the proposal is to facilitate making Ozersk a safe, healthy competitive city, providing useful employment for its scientists and population and converting its superior infrastructure into productive activities.

Physical Description

14 p.

Notes

INIS; OSTI as DE00751988

Medium: P; Size: 14 pages

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  • Other Information: PBD: 8 Mar 2000

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  • Report No.: PNNL-13096
  • Grant Number: AC06-76RL01830
  • DOI: 10.2172/751988 | External Link
  • Office of Scientific & Technical Information Report Number: 751988
  • Archival Resource Key: ark:/67531/metadc706200

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Office of Scientific & Technical Information Technical Reports

Reports, articles and other documents harvested from the Office of Scientific and Technical Information.

Office of Scientific and Technical Information (OSTI) is the Department of Energy (DOE) office that collects, preserves, and disseminates DOE-sponsored research and development (R&D) results that are the outcomes of R&D projects or other funded activities at DOE labs and facilities nationwide and grantees at universities and other institutions.

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  • March 8, 2000

Added to The UNT Digital Library

  • Sept. 12, 2015, 6:31 a.m.

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  • April 7, 2017, 2:06 p.m.

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Fuller, JL & Leek, KM. Debt swapping as a tool for economic and social stabilization in Russia's closed nuclear cities, report, March 8, 2000; Richland, Washington. (digital.library.unt.edu/ark:/67531/metadc706200/: accessed December 18, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.