General Arrangements to Borrow

international relations

Written by

The Information Architects of Encyclopaedia Britannica

Last updated

June 29, 2026

Quick Summary

The "General Arrangements to Borrow" (GAB) was an agreement established in 1961 among ten industrialized nations to provide supplementary credit to the International Monetary Fund (IMF). This arrangement aimed to bolster the IMF's resources, particularly when countries like the United States and the United Kingdom faced significant balance of payments deficits. The GAB allowed the IMF to borrow currencies from these ten member countries, known as the Group of Ten, to lend to other member nations in temporary deficit. This mechanism helped stabilize the international monetary system by providing additional liquidity and allowing countries more time to adjust their economic policies without resorting to drastic measures. The Group of Ten countries gained influence within the IMF due to their role in providing these supplementary funds.12

Summary created from Britannica articles using AI. AI can make mistakes, so verify using Britannica articles.

2 Britannica Sources

Ask Britannica AI about this topic

Britannica doesn't have a full article on this topic, so we've curated a list of our relevant coverage.

international payment and exchange
The Group of Ten
…was known as the “General Arrangements to Borrow.” The adhering countries were 10 in number: the United States, the United Kingdom, Canada, France, West Germany, Italy, the Netherlands, Belgium, Sweden, and Japan. They became known as the “Group of Ten.”
Read More
…was known as the “General Arrangements to Borrow.” The adhering countries were 10 in number: the United States, the United Kingdom, Canada, France, West Germany, Italy, the Netherlands, Belgium, Sweden, and Japan. They became known as the “Group of Ten.”
Read More