The Paris Club of creditors countries was formed in 1956. It is an informal group of creditor governments from major industrialized countries. It holds negotiations with debtor countries to find coordinated and sustainable solutions to their payment difficulties and to agree on specific terms of restructuring of their debts. It also meets for a monthly "Tour d'Horizon" to overview pending issues concerning debtor countries.
http://www.odiousdebts.org/odiousdebts/index.cfm?DSP=content&ContentID=7909
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