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What is the Paris Club? | CNBC Explains


The Paris Club, comprising 22 wealthy countries, provides a platform for governments facing financial difficulties to reduce and renegotiate their debt repayments. Formed in 1956, it has signed more than 400 agreements to date, worth more than half a trillion dollars to about 100 countries. As public debt soars in the wake of the pandemic, CNBC’s Timothyna Duncan breaks down how this exclusive club functions and the challenges it faces to stay relevant. ----- Subscribe to us on YouTube: http://cnb.cx/2wuoARM Subscribe to CNBC International TV on YouTube: https://cnb.cx/2NGytpz Like our Facebook page: https://www.facebook.com/cnbcinternational Follow us on Instagram: https://www.instagram.com/cnbcinternational/ Follow us on Twitter: https://twitter.com/CNBCi

PUBLISHED: Tue, 09 Mar 2021 22:00:01 GMT