Port privatization has been perceived as an instrument for the improvement in port management operations and marketing, yet it also provides a major opportunity for public debt reduction by converting debt incurred in port development into equity or other assets. There are many different ways in which debt, particularly foreign debt, can be converted. It can be directly converted into equity, it can be swapped for other debt, converted into various portfolio investments or exchanged for future services or exports. In recent years, ‘ecological’ swaps have also been considered in which some debt is written off in return for improvements in environmental management. This paper reviews the reasons for port privatization, the different methods for port ownership financing, and the role debt–equity conversion could play in it.
Debt—equity conversion and port privatization
Maritime Policy & Management ; 19 , 3 ; 201-209
1992-09-01
9 pages
Aufsatz (Zeitschrift)
Elektronische Ressource
Unbekannt
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