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New Arrangements to Borrow

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New Arrangements to Borrow
Also called the NAB. A collective agreement among 26 nations and financial institutions and the International Monetary Fund whereby the nations and institutions lend a certain amount of capital to the IMF. The IMF utilizes the funds of the NAB in case its normal funds fall short of its borrowers' needs. It was established following the Mexican economic crisis. See also: General Arrangements to Borrow.


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WASHINGTON, Nov 25 (KUNA) -- Participants in the International Monetary Fund's New Arrangements to Borrow (NAB) agreed to expand the NAB, including new Participants and increase credit arrangements up to USD 600 billion, it was announced here Tuesday.
The Washington-based Fund said that an additional 13 potential countries had agreed to join 26 nations in committing money to the so-called New Arrangements to Borrow (NAB), which was originally targeted at 500 billion dollars.
The European Union has since committed an additional EUR50bn to the fund's expanded New Arrangements to Borrow.
 
 
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