As a result of the enhanced access by middle-income countries to market financing, the Paris Club has already concluded an increasing number of prepayment agreements with debtor countries. Recent such agreements include Poland, the Russian Federation, Peru and Brazil.
In passing, let me mention that the IMF is making a similar experience as it has been facing a considerable decline in demand for its resources during recent years. Let me conclude this part of my talk by responding to those who claim that the Paris Club lacks transparency and predictability.