The Paris Club is an informal group of public creditors with the aim to find suitable and sustainable solutions for the payment difficulties experienced by debtor countries. This will be realised in form of a rescheduling.
Debt rescheduling agreements are agreements covering the external debt of a debtor country which are due to deliveries and services insured by the creditor countries in the framework of their respective export guarantee systems or which fall within the area of governmental development aid.
The Paris Club has no set organisational structure with written articles. Its procedures have evolved organically over its approximately 55-year history and are refined as and when the need arises.