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What is the Paris Club?
What does the Paris Club do?
Who is member of the Paris Club?
When was the Paris Club created?
How can a debtor country have its debt treated by the Paris Club?
What are the amounts treated by the Paris Club?
Does the Paris Club have statutes?
What are the Paris Club functioning principles?
What were the countries recently treated by the Paris Club?
Where can I find the amount of the debt of a country?
What is the Paris Club?
The Paris Club is an informal group of official creditors whose role is to find co-ordinated and sustainable solutions to the payment difficulties experienced by debtor nations. Paris Club creditors agree in changing the profile of payments on debts due to them.
The Paris Club has remained strictly informal. It can be described as a "non institution".
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What does the Paris Club do?
The Paris Club is a forum where official creditors meet to solve payment difficulties faced by debtor countries.
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Who is member of the Paris Club?
There are 19 permanent members of the Paris Club, and other official bilateral creditors may participate. Paris Club permanent members are: Austria, Australia, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Netherlands, Norway, Russian Federation, Spain, Sweden, Switzerland, United Kingdom, United States of America
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When was the Paris Club created?
The first meeting with a debtor country was in 1956 when Argentina agreed to meet its public creditors in Paris. As the Paris Club is only an informal group, there is no date of creation.
How can a debtor country have its debt treated by the Paris Club?
The Paris Club meets only debtors that need debt relief and that have implemented and are committed to implement the reforms to restore their economic and financial situation.
This means in practice that the country must have a current program with the IMF supported by a conditional arrangement (Stand-by, Extended Fund Facility, Poverty Reduction and Growth Facility).
What are the amounts treated by the Paris Club?
Since 1956, the Paris Club or ad hoc groups of Paris Club creditors have reached over (406 agreements breakdown by year) concerning 84 debtor countries. Since 1983, the total amount of debt covered in these agreements has been 509 billion (breakdown by year).
Does the Paris Club have statutes?
As the Paris Club is an informal group, it does not have any statutes.
This situation gives Paris Club creditors the flexibility to address the specific situation of each debtor country facing debt payment difficulties. However, Paris Club creditors have found that a number of rules and principles have been useful in securing agreement efficiently both amongst creditors and between creditor and debtor countries.
What are the Paris Club functioning principles?
Paris Club creditors have found that a number of rules and principles have been useful in securing agreement efficiently both amongst creditors and between creditor and debtor countries. These rules and principles are accepted by all participants in the Paris Club and include: decisions on a case by case basis, consensus, conditionality, solidarity, comparability of treatment.
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Where can I find the amount of the debt of a country?
A number of organizations are compiling debt data. The types of debt data collected may vary among these organizations.
More details on these organizations
More details on the definition of debt
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