Paris Club

The Paris Club is an informal group of creditor countries that helps countries facing financial difficulties manage their debts. Established in 1956, it provides a platform for debtor nations to negotiate repayment terms, often resulting in debt restructuring or reductions. The goal is to enable these countries to stabilize their economies and continue making progress without being overwhelmed by debt. The discussions in the Paris Club involve major industrialized nations, and the agreements reached can significantly impact the debtor country's financial recovery and economic development.