The General Arrangements to Borrow

Author/Editor:

Michael Ainley

Publication Date:

September 15, 1984

Summary:

This paper examines the role of the IMF’s first and longest-lasting borrowing arrangements, the General Arrangements to Borrow (GAB), from their inception in 1961–62 to their fundamental reform and enlargement in 1983. The General Arrangements were a product of the times. They were designed to help the IMF deal with growing strains in the par value system caused by the underlying balance-of-payments problems of the two major reserve centers, the United States and the United Kingdom. The General Arrangements were strengthened by the association of Switzerland, a nonmember of the IMF, in 1964.

Series:

Pamphlet Series, No. 41

Notes:

English version reprinted March 1986 and March 1995.

English

Publication Date:

September 15, 1984

ISBN/ISSN:

9781451981278/0538-8759

Stock No:

P041EA0000000

Format:

Paper

Pages:

100

Please address any questions about this title to publications@imf.org