From 1976 through 1989, 50 debtor creditors concluded 150 multilateral rescheduling agreements with official creditors for a cumulative cash-flow relief of nearly $110 billion.4 During the first half of the 1980s, Paris Club creditors consolidated $19 billion in 46 reschedulings for 21 countries. Activity in the Paris Club more than doubled during the second half, as 45 debtor countries obtained 93 rescheduling agreements and the amount consolidated by official creditors more than quadrupled to $85 billion.