general agreement to borrow meaning

• [Economics]
  An agreement made in 1962 by the Group of Ten (G10) countries to extend international credit. The agreement is a misnomer, as the countries actually agreed to lend via the International Monetary Fund (IMF) to enable each other to borrow extra reserves if this was necessary to defend their currencies. The agreement was later extended to other members of the IMF.

• The General Agreements to Borrow has about a $ 24 billion line of credit available but hasn't been used since the 1970s.
• So in his speech on Monday, administration officials say, Clinton will endorse dipping into a backup fund, the General Agreement to Borrow.
• It calls for a doubling in size of the General Agreement to Borrow, a $ 29 billion line of credit financed by 11 major industrial nations and Saudi Arabia.
• _IMF General Agreements to Borrow, $ 3 . 5 billion to prevent international monetary crises caused by developing countries that are unable to pay their bills, usually to large American banks.
• That line of credit would be used before the IMF taps into the General Agreement to Borrow, or GAB, a $ 23 billion line of credit it already has with several countries.
• The IMF has about $ 44 billion in cash reserves, $ 36 billion more of gold that could be sold, and another reserve fund known as the General Agreement to Borrow valued at $ 23 billion.
• Putting together a rescue package would almost certainly involve committing to use the last $ 15 billion left in the IMF's " emergency fuel tank, " a fund called the general agreement to borrow.
• The G-7 summit agreed to push for an enlargement of the General Agreement to Borrow, or GAB . That's the line of credit extended to the International Monetary Fund by ten major industrial economies, plus Saudi Arabia.
• Some delegates suggested that a consensus was developing for a compromise that would expand a dlrs 29 billion IMF reserve fund known as the General Agreements to Borrow, which is composed of resources contributed by the United States and 11 other wealthy countries.
• "To allow us to be fully prepared for future emergencies . . . we should double the resources of the General Agreement to Borrow, " the IMF's fund for such emergencies, to $ 50 billion, he said.

• "general agreement to borrow" meaning in Chinese: 十国集团的借款总安排
• "general agreement to borrow" meaning in Japanese: 一般借入約定、GAB 協定
• "general agreement to borrow" meaning in Russian: сокр. GAB межд. эк. , фин. = General Arrangements to ...