Number: RS21482
Title: The Paris Club and International Debt Relief
Authors: Martin A. Weiss, Foreign Affairs, Defense, and Trade Division 
Abstract: The Paris Club is a voluntary, informal group of creditor nations who meet approximately 10 times per year, to provide debt relief to developing countries. Members of the Paris Club agree to renegotiate and/or reduce sovereign creditor's debt owed to them on a case-by-case basis. The United States is a key member of the Paris Club, and Congress has an active role in both Paris Club operations and U.S. policy regarding debt relief overall. The Fair Credit Reform Act of 1990 stipulates that Congress must be involved in any official foreign country debt relief, and notified of any debt reduction and debt renegotiation.
Pages: 6
Date: March 3, 2005