Debt-Equity Swaps

I have been a proponent of Debt Equity Swaps, so as to make the record clear, since 1982. That is, since the debt crisis began. And as you will see, as I go along, though I don't think that they are a perfect solution to anything; and believe that there are always problems involved in implementing the programme, they are the best approach which can be taken, and they are more promising than even many of the governments which are now beginning to embark on programmes of that kind.