International Finance

Primary Sources

IMF Borrowing Arrangements

The GAB and NAB are credit arrangements between the IMF and a group of members and institutions to provide supplementary resources of up to SDR 34 billion (about US$50 billion) to the IMF to forestall or cope with an impairment of the international monetary system or to deal with an exceptional situation that poses a threat to the stability of that system. Separately, Japan has agreed to lend the Fund up to US$100 billion (about SDR 68 billion) as a measure to help overcome the current global economic and financial crisis.

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Challenges and Opportunities for the World Economy and the IMF

Speaker: Christine Lagarde
Presider: Thomas H. Glocer

Christine Lagarde, managing director of the International Monetary Fund (IMF), discusses fragility in the global economy and how the IMF can mitigate international financial crises.

This meeting was part of the C. Peter McColough series on International Economics.

See more in International Finance; International Organizations and Alliances; Global


Keynesians are complacent about the dollar

Authors: Benn Steil and Manuel Hinds
Financial Times

Benn Steil's op-ed in the May 24th edition of the Financial Times, co-authored with Manuel Hinds, examines what it would mean for the United States to be obliged to function, like most of the world, without an internationally accepted money. They show why the U.S. not being able to pay its foreign debts in conjured currency would, contrary to Paul Krugman's view, be a big deal.


See more in International Finance; Monetary Policy; Global