Paris Club


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Paris Club

n
(Economics) an informal group of representatives from IMF member nations whose governments or central banks have lent money to governments of other countries. See Group of Ten
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Kilian Mbappe is a French footballer and striker for the Paris club Saint-Germain and is recognised as one of the best young players in the world.
According to a staff report released by the International Monetary Fund (IMF), Pakistan would have to repay $721 million to Paris club and $7.44 billion to non-Paris club during this fiscal year.
Dr Hamid Bobboyi, the Executive Secretary, Universal Basic Education Commission (UBEC), says Anambra, Edo, Ekiti, Nasarawa, Kano and the Federal Capital Territory (FCT) are yet to access the Paris Club counterparts fund in full.
"Both the bank and the IMF are working together in order to bring about more transparency and be better able to identify debt out there, terms and conditions, volumes and maturities," she said at a news briefing."We are constantly encouraging both borrowers and lenders to align as much as possible with the debt principles" set by international organizations such as the Paris Club and Group of 20.An IMF report issued this week warned that rising debt levels around the world government and corporate borrowing poses a risk to the global economy.
"Historically, low-income countries mostly relied on international institutions and traditional bilateral creditor countries, which can use the Paris Club to coordinate their actions on debt issues," she said.
In 2016, the Seychelles, a SIDS in the Western Indian Ocean region, secured an innovative debt for climate swap deal with its Paris Club creditors, (1) South Africa and the Nature Conservancy.
Repayments to Paris Club and non-Paris Club creditors for the next year are estimated at $900 million and $600m, respectively.
In January, the CBE paid $700 million to the Paris Club of debtors as part of its total debt to the club which currently amounts to $3.7 billion.
Last month's increase in foreign exchange reserves came despite the fact that the CBE has repaid around $700m as an installment to the Paris Club. Egypt repays the installments of its debt to the Paris Club twice a year, in January and July.
But the country has started repaying the Paris Club loans that former president General (retired) Pervez Musharraf got frozen under a deal struck in return of becoming an ally in the US-led war on terrorism.
The Government of Bayelsa State says disgruntled politicians from Bayelsa State are behind all the negative reports on the state published by Sahara reporters, including the recent gutter-speak on the Paris Club refunds.
The PS10million Eagles signing revealed on French TV that senior players at the Paris club were against his signing from Newcastle in January 2014 and he never settled.