### Question
Can you define what debt conversion means?


### Answer
**Debt conversion** is defined as the following in *22 U.S.C. § 5861*:

> an agreement whereby a country's government-to-government or commercial external debt burden is exchanged by the holder for local currencies, policy commitments, other assets, or other economic activities, or for an equity interest in an enterprise theretofore owned by the debtor government

#### Citation:
  - *22 U.S.C. § 5861*
  - Heading: **CHAPTER 67-FREEDOM FOR RUSSIA AND EMERGING EURASIAN DEMOCRACIES AND OPEN MARKETS SUPPORT > SUBCHAPTER IV-NONPROLIFERATION AND DISARMAMENT PROGRAMS AND ACTIVITIES**

