Annual meetings with private sector representatives

Maintaining a dialogue between the Paris Club and non-member creditor countries as well as private-sector creditors, helps to foster and deepen a shared understanding of sovereign debt restructuring mechanisms and facilitate their resolution.

Relations with creditor countries non-member of the Paris Club

For the first time in the June 11, 2008 meeting, emerging sovereign creditors (South Africa, Turkey, China Ex-Im Bank, Kuwait Investment Authority and Abu Dhabi Fund for Development) joined the discussions. The Paris Club subsequently expanded gradually, notably with Israel (2014) and the Republic of Korea and Brazil (2016) becoming full Paris Club members. At the same time, the statuses of “ad hoc members” in Tour d’Horizon and “prospective member” have enabled intermediate forms of interaction with the main emerging sovereign creditors.

In 2020, the COVID-19 crisis catalysed cooperation among major official bilateral creditors. Through the Debt Service Suspension Initiative (DSSI), G20 and Paris Club member countries provided a coordinated response to the negative impact of the pandemic on the debt sustainability of low-income countries.

Launched under the Saudi G20 presidency, the Common Framework for Debt Treatments Beyond the DSSI aims to sustain the progress made in the area of coordination among official bilateral creditors. Debt restructurings carried out under this framework bring together G20 and Paris Club member countries, as well as any other interested bilateral official creditors of the debtor country concerned, within a single official creditor committee. By 2025, four countries had received a debt treatment under the Common Framework: Chad, Zambia, Ethiopia, and Ghana.

Relations with private-sector creditors

Since 2005, the Paris Club’s annual meeting with private-sector creditors members of the Institute of International Finance (IIF) has also served as an opportunity to informally establish a joint overview of the sovereign debt landscape and to encourage closer coordination between public and private creditors to accelerate debt restructurings.

The Global Sovereign Debt Roundtable

More broadly, the Paris Club regularly shares its expertise within initiatives aimed at bringing together debtor countries and their creditors. Since 2023, it has been a member of the Global Sovereign Debt Roundtable (GSDR), co-chaired by the IMF, the World Bank, and the rotating G20 presidency.