This refers to an informal group of creditor nations focussed on dealing with borrower nations that face difficulty in paying back their loans. The origin of the club is traced to a meeting that happened in Paris between officials from Argentina, which had trouble paying back its debt, with a group of lenders in 1956. It is similar to the London club, which is a group of commercial bankers formed in 1976 to deal with the financial problems of Zaire, and is focussed on providing various forms of debt relief to countries that face financial distress due to their heavy debt load.
