Paris Club


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Paris Club

An informal group consisting of 19 wealthy countries in the developed world. Financial government official meet every six weeks to discuss debt relief in the developing world. The IMF typically recommends a country to the Paris Club when other forms of restructuring have not worked. Potential solutions proposed by the Paris Club range from payment rescheduling to debt cancellation. See also: Highly-indebted poor country.
References in periodicals archive ?
President magnanimously assisted us with another tranche of Paris Club Refund, our own figure was N1.
It is also worthy to note that the Paris Club refunds was used prudently to pay salary and Bayelsans commended Government for it.
The Paris Club comprises 19 creditors selected by the International Monetary Fund.
The debt to the non-member countries of the Paris Club amounted to $1.
By the end of December 2013, Egypt's debt to the Paris Club was USD3.
A Paris Club delegation quietly travelled to Havana late last year to meet with Cuban bank officials, who were prepared with various proposals and appeared eager to strike a deal, according to Western diplomats.
The Paris Club of creditors said the agreement will allow Argentina to clear over five years arrears that stood at $9.
HAVANA Tue Apr 22, 2014(Reuters) - Cuba and the Paris Club of wealthy creditor nations are working to resume talks over billions of dollars of official debt in a new sign the communist government is interested in rejoining the global economy.
He also underscored the need for reaching out to creditors in the coming period, particularly Paris Club in order to start practical steps for debt relief.
The Paris Club is a voluntary, informal group of creditor nations who meet approximately 10 times per year, to provide debt relief to developing countries.
In 2006, Nigeria paid off its multi-billion dollar Paris Club debt, becoming the first African nation to do so.
Which Paris club was famed for its can-can dancers?