Paris Club: Intergovernmental Relations in Debt Restructuring - Initiative for Policy Dialogue

contente
  • 10/02/2008
  • Working Paper
  • Debt and Global Finance

This paper describes the unique way negotiations within the Paris Club are carried out, with the debtor in essence as supplicant to the creditors who then announce their joint decision on relief, after which the debtor undertakes a series of bilateral renegotiations of each loan with each creditor following the guidelines of the Club's ‘Agreed Minute’.

Link
https://ipdcolumbia.org/publication/paris-club-intergovernmental-relations-in-debt-restructuring/
Resumir
The paper discusses the negotiation process within the Paris Club, highlighting its distinctive structure where the debtor acts as a supplicant to the creditors. In this framework, creditors collectively announce their decision regarding debt relief, which is then followed by the debtor engaging in bilateral renegotiations for each loan with individual creditors. These negotiations adhere to the guidelines outlined in the Club's 'Agreed Minute', emphasizing the procedural norms that govern the interactions between debtors and creditors in the context of global finance.