Press Release No. 17/165

IMF Executive Board Approves FY2018–FY2020 Medium-Term Budget

May 12, 2017

On April 28, 2017, the Executive Board of the International Monetary Fund (IMF) approved the IMF’s administrative and capital budgets for financial year (FY) 2018, beginning May 1, 2017, and took note of indicative budgets for FY2019–20.

The net administrative budget for FY2018, which covers all administrative expenses net of receipts (primarily from external sources to help support capacity building activities and excluding lending income), has been set at US$1,104 million. Barring a small (0.6 percent) increase in FY2017 to meet rising information technology (IT) and physical security costs, the FY2018 budget is based on an unchanged resource envelope in real terms for the sixth year in a row. To enable the maintenance of a flat budget while accommodating new institutional priorities, reallocation and savings measures amounting to 3½ percent of the previous year’s budget are planned for implementation. As is customary, the nominal dollar budget includes an adjustment to accommodate price increases, 3 percent for FY2018.

The FY2018 capital budget, set at US$66.4 million, provides financing for new capital projects for building facilities and IT.

Additional information can be found in the staff paper: The FY2018–FY2020 Medium-Term Budget.