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WASHINGTON - The World Bank will launch its first ever debt-for-development swap within weeks, its Vice President and Treasurer Jorge Familiar told Reuters, as the Washington-based lender expands its toolkit to help economies facing liquidity challenges.
They generate those savings by buying up existing bonds or loans of a country which are then replaced with cheaper debt, usually with the help of a development bank.While other development banks, such as the Inter-American Development Bank, have started getting involved in such transactions, the World Bank has so far stayed on the sidelines.
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