London Club

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This article is about the international group of creditors. For clubs in London, see List of London's gentlemen's clubs.

The London Club is an informal group of private creditors on the international stage, and is similar to the Paris Club of public lenders. The London Club is not the only informal group of private creditors. The first meeting of the London Club took place in 1976 in response to Zaire's debt payment problems.[citation needed]

The London Club is also the organization responsible for rescheduling debt payments made by countries to commercial banks.[1]

Russia's London Club debt as of February 2009 was US$ 21.2 billion, all restructured Soviet-era.[2]

See also[edit]

References[edit]

  1. ^ Sloman J. (2006), Economics (6th edition). Harlow, FT/Prentice Hall. ISBN 0-273-70512-1
  2. ^ Russia's total external debt