The Paris Club

Under the leadership of the Norwegian Ministry of Foreign Affairs, GIEK participates in the Paris Club. This is an informal forum where 21 creditor countries, all with major exposure to other states, discuss topics related to national debt. The forum works to find long-term, sustainable solutions for countries with debt problems, and in individual cases this may entail debt forgiveness. The Paris Club has no fixed rules but is governed by some guiding principles: solidarity between creditors, consensus among creditors, information sharing, case-by-case decision-making, conditionality (debt forgiveness by the club’s members requires the debtor to comply with an IMF programme) and equal treatment of creditors.

Read more about Norway’s policies on the Ministry of Foreign Affairs’ website