the role of intermediary between creditors, who elaborate debt treatment proposals, and the representative of the debtor country, usually the Minister of Finance. He is responsible for submitting to the debtor's delegation terms agreed upon by creditors. If the debtor - which is common - refuses the first offer of creditors, the actual negotiation begins, the Chairman acting as a shuttle between the debtor and creditors. List of chairpersons Incomplete list: Jean-Claude Trichet (1985–1993) Christian Noyer (1993–1997) Jean-Pierre Jouyet (2000–2005) Xavier Musca (2005–2009) Ramon Fernandez (fr) (2009–May 2014) Bruno Bézard (fr) (since June 2014) Paris Club principles • Solidarity: All members of the Paris Club agree to act as a group in their dealings with a given debtor country and be sensitive to the effect that the management of their particular claims may have on the claims of other members. • Consensus: Paris Club decisions cannot be taken without a consensus among the participating creditor countries. • Information sharing: The Paris Club is a unique information-sharing forum. Paris Club members regularly share views and information with each other on the situation of debtor countries, benefit from participation by the IMF and World Bank, and share data on their claims on a reciprocal basis. In order for discussions to remain productive, deliberations are kept confidential. • Case by case: The Paris Club makes decisions on a case-by-case basis in order to tailor its action to each debtor country's individual situation. This principle was consolidated by the Evian Approach. • Conditionality: The Paris Club only negotiates debt restructurings with debtor countries that: 1) need debt relief. Debtor countries are expected to provide a precise description of their economic and financial situation, 2) have implemented and are committed to implementing reforms to restore their economic and financial situation, and 3) have a demonstrated track record of implementing reforms under an IMF program. This means in practice that the country must have a current program supported by an appropriate arrangement with the IMF (Stand-By, Extended Fund Facility, Poverty Reduction and Growth Facility, Policy Support Instrument). The level of the debt treatment is based on the financing gap identified in the IMF program. In the case of a flow treatment, the consolidation period coincides with the period when the IMF arrangement shows a need for debt relief. When the flow treatment extends over a long period of time (generally more than one year), the Paris