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 payables. The first meeting of the London Club took place in 1976 in response to Zaire's debt payment problems.
The London Club of commercial banks has been responsible for rescheduling countries debt payments to commercial banks.
[Richard P. C. Brown and Timothy J. Bulman]
The Clubs: Their Roles in the Management of International Debt.
INTERNATIONAL ECONOMICS, FINANCE AND TRADE – Vol. I. UNESCO – EOLSS sample chapter, 4pp A meeting of the London Club took place in 1976 in response to
Zaire
Zaire (, ), officially the Republic of Zaire (french: République du Zaïre, link=no, ), was a Congolese state from 1971 to 1997 in Central Africa that was previously and is now again known as the Democratic Republic of the Congo. Zaire was, ...
's debt payment problems.
See also
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Paris Club of public lenders another informal group of private payables.
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Debt of developing countries
The debt of developing countries usually refers to the external debt incurred by governments of developing countries.
There have been several historical episodes of governments of developing countries borrowing in quantities beyond their abilit ...
References
Government debt
Business organisations based in London
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