Review of the Fund's Income Position for FY 2015 and FY 2016

April 6, 2015

Preview Citation

Format: Chicago

Review of the Fund's Income Position for FY 2015 and FY 2016, (USA: International Monetary Fund, 0) accessed December 18, 2024

Summary

FY 2015 net income is now projected at SDR 1.5 billion. Lending continues to be the main source of income, although advance repurchases have lowered projected lending income in FY 2015 by SDR 0.3 billion. Investment income remains constrained in the low interest environment but the returns were somewhat stronger than projected. A revaluation of pension obligations, required under accounting standard IAS 19 and stemming from a further fall in the discount rate, is projected to entail an adjustment to FY 2015 net income of about SDR 0.8 billion.

The paper proposes that GRA net income of SDR 1.3 billion, which excludes the retained earnings of the gold endowment, be placed to the special reserve.* After the placement to reserves, precautionary balances are projected at SDR 14.0 billion at the end of FY 2015.

The paper further proposes to retain currencies available for transfer to the Investment Account in the GRA, pending completion later this year of the Board’s review of the mandate for the Fixed-Income Subaccount.

Subject: Estimated incomes and expenses, Executive Board decisions, Fund financial position reviews, General Resources Account, Net income of Fund, Rate of charge, Reimbursement to General Department for expenses, Special charges

Publication Details

Pages:

---
Volume:

---
DOI:

---
Issue:

---
Series:

Policy Papers
Stock No:

---
ISBN:

---
ISSN:

---

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

Policy Papers