{
  "id": "97-467",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "97-467",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 104000,
      "date": "1997-04-18",
      "retrieved": "2016-05-24T20:58:54.167941",
      "title": "The IMF's \"General Arrangements to Borrow\" (GAB): A Background Paper",
      "summary": "In the wake of the Mexican financial crisis, the G-7 industrial countries  (1) \nagreed, at the Halifax\neconomic summit of June 15-16, 1995, to establish an \"emergency financing mechanism.\" This\nproposal has ultimately evolved into the so-called \"New Arrangements to Borrow\" (NAB).  (2)  The\nNAB, however, parallels and complements the GAB, which were established in 1962. While the\nproposed NAB would become the facility of first recourse, the GAB remain in existence and are still\navailable to be drawn upon. More importantly, the SDR 17.0 billion  (3)  in\nexisting financial\ncommitments to the GAB are counted as part of the total SDR 34.0 billion in financial commitments\nthat comprise the NAB.\n     1.  \u00a0 The United States, Japan, Germany, France, the United\nKingdom, Italy, and Canada.\n  2.  \u00a0 The NAB are discussed in U.S. Library of Congress. \nCongressional Research Service.  The IMF's Proposed\n\"New Arrangements to Borrow\" (NAB): An Overview ,  CRS Report 97-468(pdf)  E, by Patricia A.\nWertman.\n  3.  \u00a0 The Special Drawing Right (SDR) is an international reserve\nasset that is created by the IMF and used as\nits unit of account. The dollar value of the SDR fluctuates on a daily basis.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
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          "url": "http://www.crs.gov/Reports/pdf/97-467",
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      "topics": []
    }
  ],
  "topics": [
    "Economic Policy",
    "Foreign Affairs",
    "Industry and Trade"
  ]
}