How Belize became a poster child for 'debt-for-nature' swaps

When Covid hit Belize, its economy nosedived: closed borders meant fisheries and farmers had no export markets, and tourism centered on the tiny Central American nation's warm waters and wonders of biodiversity came to a halt. Under the terms of the deal, Belize agreed to expand protection to 30 percent of its territorial waters, and spend $4.2 million annually on marine conservation.