GENERAL AGREEMENTS TO BORROW (GAB)
\d͡ʒˈɛnəɹə͡l ɐɡɹˈiːmənts tuː bˈɒɹə͡ʊ ɡˈab], \dʒˈɛnəɹəl ɐɡɹˈiːmənts tuː bˈɒɹəʊ ɡˈab], \dʒ_ˈɛ_n_ə_ɹ_əl ɐ_ɡ_ɹ_ˈiː_m_ə_n_t_s t_uː b_ˈɒ_ɹ_əʊ__ ɡ_ˈa_b]\
Definitions of GENERAL AGREEMENTS TO BORROW (GAB)
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Agreement / contract for a member lending country to deposit monies in the International Monetary Fund (IMF), allowing member countries to borrow these funds. US, Canada, UK, Belgium, the Netherlands, Japan, Italy, France, Germany, Sweden and recently added Switzerland are current members. Each member transacts in its own currency. The contract established transaction rules for the members.
By Henry Campbell Black
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