Number: 97-467 Title: The IMF's "General Arrangements to Borrow" (GAB): A Background Paper Authors: Patricia A. Wertman, Economics Division Abstract: In the wake of the Mexican financial crisis, the G-7 industrial countries agreed to establish an emergency financing mechanism. This proposal has ultimately evolved into the so-called "New Arrangements to Borrow" (NAB). The NAB, however, parallels and complements the GAB, which were established in 1962. While the proposed NAB would become the facility of first recourse, the GAB remain in existence and are still available to be drawn upon. Pages: 5 Date: April 18, 1997