IMF Board Renews New Arrangements To Borrow

(RTTNews) - The Executive Board of the International Monetary Fund on Friday renewed its $250 billion New Arrangements to Borrow (NAB) for another five years.

The renewal of the NAB starting November, 2017 will help maintain the agency's lending capacity to its membership.

The NAB are credit arrangements between the IMF and a group of members and institutions to provide supplementary resources to the IMF to deal with an exceptional situation that poses a threat to the stability of that system.

The NAB came into effect on November, 1998. It has been renewed continuously for five years.