This group of countries meets to find ways to reschedule debts owed to
them by other countries. Meetings are held in Paris and are chaired by
a high French Treasury official. It likes to describe itself as a
"noninstitution" in that the group is informal and has no legal basis.
Still, up to mid-2002, nearly $400B in debts had been rescheduled
through them. Their site describes their principles, their creditors,
the negotiation sessions, and other details of their work.