30. The General Arrangements to Borrow were created in December 1961 to address the prospect, brought about be growing problems facing the U.S. dollar, that the U.S. and Britain might be borrowing from the Fund at the same time. Under the GAB, collective support commitments were accepted by the ten leading members, led by the U.S., followed by Britain, and including, Canada, Germany, France, Italy, Japan, the Netherlands, Belgium, and Sweden. Switzerland, while not an IMF member, joined shortly afterward. A. F. W. Plumptree, Three Decades of Decision: Canada and the World Monetary System, 1944-75 (Toronto: McClelland and Stewart, 1977), p. 186.

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