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Article: Innovations in debt relief: the Paris Club. (includes related article)
- Article from:
- Finance & Development
- Article date:
- March 1, 1992
- Author:
CopyrightCOPYRIGHT 1992 International Monetary Fund. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Recent moves by the Paris Club have opened the pessibility of reducing the debt burden of severely indebted low-income countries through debt cancellation and restructuring. In doing so, the Paris Club has attempted to broaden the approach taken in September 1988 under "Toronto Terms," moving to encompass some of the ideas expressed in a proposal by then UK Chancellor of the Exchequer, John Major, of September 1990, known as "Trinidad Terms."
The Paris Club is the multilateral forum that helps developing countries restructure their debts to governments and officially guaranteed export credits. Traditionally, the Paris Club helps indebted nations resolve temporary ...