What is Paris Club?
The '''Paris Club''' ({{lang-fr|Club de Paris}}) is a group of officials from major [[creditor]] countries. Their role is to find solutions to the payment difficulties of debtor countries. The Paris Club was created gradually from 1956, when the first negotiation between [[Argentina]] and its public creditors took place in [[Paris]]. The Paris Club treats public claims (that is to say, those due by governments of [[debtor countries]] and by the private sector), guaranteed by the public sector to Paris Club members. A similar process occurs for public debt held by private creditors in the [[London Club]], which was organized in 1970 on the model of the Paris Club as an group of banks meet to renegotiate the debt they hold on debtors. [[Category:Political organizations]]