In what he labeled his " Enterprise for the Americas Initiative,"
An early proponent of the Enterprise for the Americas Initiative, Uruguay has actively participated in the follow-up process to the periodic Summits of the Americas, especially the Free Trade Area of the Americas ( FTAA ).
The measure is partly modeled after an existing program called the Enterprise for the Americas Initiative, which began in 1991 and has thus far resulted in the forgiving of $ 874 million in U . S . debts owed by seven Latin American countries.
An example of a bilateral swap occurred when the U . S . Government, under the Enterprise for the Americas Initiative, forgave a portion of Jamaica's official debt obligations and allowed the payments on the balance to go into national funds that finance environmental conservation.