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Paris Club
December 7 , 2023
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- Sri Lanka has recently reached an “agreement in principle” with India and the Paris Club group of creditors including Japan, on a debt treatment plan.
- The Paris Club is an informal group of creditor nations.
- It works to find sustainable solutions for debtor countries that are unable to repay their bilateral loans.
- It has originated from a 1956 meeting in which Argentina agreed to meet its public creditors in Paris.
- The Paris Club has 22 permanent members.
- India is not a member to this club.
- The Paris Club usually coincides with the IMF program period.
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