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 to rescheduling debts due to them.
Rescheduling is a means of providing a country with debt relief through a postponement and, in the case of concessional rescheduling, a reduction in debt service obligations.
The role of the International and European Financial Affairs administration
Belgium is a member of the Club since its inception in 1956 and is represented by IEFA (head of delegation) and ONDD (export credit agency).
PARIS CLUB
The Paris Club gathers the governments of the most important industrialized countries (creditors of OECD countries in particular).
The permanent members of the Paris Club are:
- Austria
- Australia
- Belgium
- Brazil
- Canada
- Denmark
- Germany
- Finland
- France
- Ireland
- Israel
- Italy
- Japan
- Korea
- the Netherlands
- Norway
- Russian federation
- Spain
- Sweden
- Switserland
- United Kingdom
- United States
Other countries can act as occasional members, subject to the agreement of the permanent members and the country having the debt to be rescheduled.
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