The Paris Club is a forum of official creditors for negotiating debt restructuring. It is an informal intergovernmental group convened to renegotiate debts to official creditors. Is an informal group of creditor Governments that has been meeting periodically in Paris since 1956 to reschedule bilateral debt; the French Treasury is acting as secretariat for this group. The creditors meet with the debtor to reschedule its debts as part of international support to the country facing difficulties in servicing its debts and implement a correction program supported by IMF resources. There are no permanent members of the Paris Club, and its meetings are open to all official creditors who accept its practices and procedures. The main creditors are mainly members of the Organization for Economic Cooperation and Development (OECD), but other creditors attend its meetings as may be required in the case of the debtor country concerned. Russia became a member of the Paris Club in September 1997. 2. It is an informal group of creditor countries that have no fixed legal or regulatory status but meet from 10 to 11 times a year in Paris to discuss the external debt situation, and to reschedule or reduce it in some cases. The first of those meetings was in 1956 to discuss the situation of Argentina and since then, 383 agreements have been concluded for 79 debtor countries. The value of the agreements concluded since 1983 is 428 billion US dollars.