IMF Finances

Financial Organization and Operations of the IMF

Review of the Fund's Strategy on Overdue Financial Obligations

Quotas

Gold

General Arrangements to Borrow and New Arrangements to Borrow



Financing the Fund’s Operations —
Review of Issues

Prepared by the Treasurer’s Department
(In consultation with the Legal Department)

April 11, 2001

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Contents

  1. Introduction
     
  2. The Structure and Operation of the Fund’s Finances
    1. Financial Structure and Balance Sheet
    2. Costs and Revenues
    3. Distribution of the Cost of Operating the Fund

  3. Proposals to Modify the Structure and Operation of the Fund’s Finances
    1. Concessionality, Incentives, and Maturities
    2. Equity Considerations
    3. Robustness of the Mechanism
    4. Simplification

  4. Concluding Remarks

Text Tables

  1. The Fund’s Balance Sheet and Associated Income and Expense, and Burden Sharing Contributions, FY 2000
  2. The Fund’s Administrative Expenses, FY 1996-2000
  3. Relative Burden on Members of Financing the Fund’s Administrative Expenses, Precautionary Balances, and Imputed Interest Costs, FY 1982-2000
  4. Summary of Proposals on the Structure and Operation of the Fund’s Finances

Text Boxes

  1. The Fund’s Lending Mechanism
  2. Fund Liquidity and Financial Transactions Plan
  3. The Fund’s GRA Lending
  4. Organization of the Fund’s Accounts
  5. Gold in the Fund
  6. The Fund’s Operational Exchange and Interest Rates
  7. The Burden-Sharing Mechanism
  8. Adjusting the Unremunerated Reserve Tranche

Figures

  1. Selected IMF Interest Rates, FY 1974-2000

Appendices

  1. The Fund’s Precautionary Balances
  2. Decisions Affecting the Fund’s Income
  3. Factors Affecting the Fund’s Rate of Charge
  4. The Fund’s Interest-Free Resources
  5. Rates of Charge and Remuneration, SDR and Market Interest Rates, and Grant Element, FY 1950-2000

Appendix Tables

  1. The Fund’s Precautionary Balances and Free Reserves, FY 1950-2000
  2. The Fund’s Interest-Free Resources in the GRA, FY 1960-2000
  3. Members’ Quotas, Norms, and Potential Unremunerated Reserve Tranche
  4. Rates of Charge and Remuneration, SDR and Market Interest Rates, and Grant Element, FY 1950-2000
    Glossary
    References