Posted: November 8th, 2016

If the ‘Paris Club’ achieves international agreements, but claims no legal basis, to what extent does it contribute to our understanding of International Law and international commerce? Discus

Assignment 3: Institutions and International Law In the event that a country cannot pay its debts, it may refer to the ‘Paris Club’ which, ‘while it has no legal basis, can reach a coordinated agreement on debt rescheduling quickly and efficiently. This voluntary gathering dates back to 1956, when Argentina agreed to meet its public creditors in Paris. Since then, the Paris Club, and related ad hoc groups, has reached over 410 agreements covering 86 debtor countries.’ Source: International Monetary Fund website http://www.imf.org/external/np/exr/facts/groups.htm If the ‘Paris Club’ achieves international agreements, but claims no legal basis, to what extent does it contribute to our understanding of International Law and international commerce? Discuss. Essay (1500 words} subject: issues in international law

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