At 50, Is the Paris Club a Colonial Relic?

Made up of 19 of the world's richest nations, the Paris Club was formed in 1956 as an informal group of creditor governments to manage their collective debt portfolio. Since 1983, the Club has covered some 504 billion dollars of debt originally given through bilateral, and wrongly labeled, "aid" agencies or through export credit agencies, to dozens of countries in Africa, Asia and Latin America.