The General Arrangements to Borrow
September 15, 1984
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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.
Subject: Commodities, Credit, Currencies, Debt burden, External debt, Financial institutions, Gold, International monetary system, Lines of credit, Loans, Money
Keywords: amount, automatic credit lines, balance of payments position, Caribbean, Credit, credit arrangement, Currencies, Debt burden, distribution of call, Eastern Europe, Europe, Fund, fund in cooperation, Global, Gold, International monetary system, line of support, Lines of credit, liquidity position, Loans, nonmember of the fund, PAM
Pages:
100
Volume:
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DOI:
Issue:
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Series:
Pamphlet Series, No. 41
Stock No:
P041EA0000000
ISBN:
9781451981278
ISSN:
0538-8759
Notes
English version reprinted March 1986 and March 1995.
