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.
The London Club is also the organization responsible for rescheduling debt payments made by countries to commercial banks.
|This economics-related article is a stub. You can help Wikipedia by expanding it.|