Definition: New Arrangements to Borrow

Category: IMF terminology

Arrangements, which became effective in 1998, under which 25 member countries or their financial institutions stand ready to lend to the International Monetary Fund (IMF) under circumstances similar to those covered by the General Arrangements to Borrow (GAB). The NAB do not replace the GAB but are to be the first and principal recourse in the event of a need to provide supplementary resources to the IMF. http://www.imf.org/external/np/exr/glossary/showTerm.asp