Cover The General Arrangements to Borrow
The General Arrangements to Borrow
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Abstract

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.

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Author: Mr. Michael Ainley1
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
Series:
Pamphlet Series
Publisher:
International Monetary Fund
Language:
English
Publication Date:
15 Sep 1984
DOI:
https://doi.org/10.5089/9781451981278.054
ISBN:
9781451981278
ISSN:
0538-8759
Pages:
100
Keywords:
PAM; Fund; amount; credit arrangement; balance of payments position; distribution of call; line of support; fund in cooperation; Currencies; Credit; Lines of credit; Debt burden; International monetary system; Europe; Global; Eastern Europe; automatic credit lines; liquidity position; nonmember of the fund; Gold; Loans; Caribbean
Legal-disclaimer:
The views expressed in this pamphlet, including any legal aspects, are those of the author and should not be attributed to Executive Directors of the IMF or their national authorities.