The Paris Club comprises 22 industrial nations that meet at regular intervals (normally ten times a year) to find an acceptable solution for all parties involved on how to deal with debtor countries experiencing payment difficulties. The Paris Club works with the debtor countries to restructure the repayment terms for public debt, while safeguarding the financial interests of the creditor countries.
In contrast to the London Club, in which commercial banks negotiate with debtor countries, the Paris Club only deals with government and government-insured assets of the creditor countries that are also guaranteed by the debtor countries.
Decisions in the Paris Club are taken in accordance with the Club's rules and principles. Depending on its debt situation and development, the debtor country concerned qualifies for certain rescheduling terms.
SECO represents the interests of Switzerland in the Paris Club.
