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Review Of The Funds Income Position For Fy 2016 And Fy 2017 2018
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Book Synopsis Review of the Fund's Income Position for FY 2017 and FY 2018 by : International Monetary Fund. Finance Dept.
Download or read book Review of the Fund's Income Position for FY 2017 and FY 2018 written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2017-05-30 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund’s total net income for FY 2017, including surcharges, is projected at about SDR 1.7 billion or some SDR 0.7 billion higher than expected in April 2016. This mainly reflects the IAS 19 adjustment (relating to reporting of employee benefits), which is expected to contribute about SDR 0.4 billion to net income, and higher investment income. Lending income is expected to be modestly lower than the April 2016 estimates. The paper recommends that GRA net income of SDR 1.2 billion for FY 2017 (which excludes projected income of the gold endowment), be placed equally to the special and general reserve. After the placement of GRA FY 2017 net income to reserves, precautionary balances are projected to reach SDR 16.4 billion at the end of FY 2017. The paper further proposes to transfer currencies equivalent to the increase in the Fund’s reserves from the GRA to the Investment Account. In April 2016, the margin for the rate of charge was set at 100 basis points for the two years FY 2017 and FY 2018. The margin may be adjusted before the end of the first year of this two-year period (i.e., FY 2017) but only if warranted by fundamental changes in the underlying factors relevant for the establishment of the margin at the start of the two-year period. Staff does not propose a change in the margin. The projections for FY 2018 point to a net income position of SDR 0.7 billion. These projections are subject to considerable uncertainty and are sensitive to a number of assumptions.
Book Synopsis Review of The Fund's Income Position for FY 2022 and FY 2023–2024 by : International Monetary
Download or read book Review of The Fund's Income Position for FY 2022 and FY 2023–2024 written by International Monetary and published by International Monetary Fund. This book was released on 2022-05-27 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper updates the projections of the Fund’s income position for FY 2022 and FY 2023–2024 and proposes related decisions for the current financial year. The paper also includes a proposed decision to set the margin for the rate of charge for financial years 2023 and 2024.
Book Synopsis Review of the Fund's Income Position for FY 2018 and FY 2019-20 by : International Monetary Fund. Finance Dept.
Download or read book Review of the Fund's Income Position for FY 2018 and FY 2019-20 written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2018-06-13 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Fund’s total net income for FY 2018 is projected at about SDR 0.7 billion, broadly in line with the April 2017 estimate. The projections for total lending income are broadly unchanged. Most sources of lending income are lower, reflecting a lower level of credit outstanding as a result of advance repurchases and delayed disbursements. However, projected commitment fee income is higher following the early cancellation of a large FCL arrangement in November 2017. The paper recommends that GRA net income of SDR 0.7 billion for FY 2018 (excluding projected income of the gold sales profits-funded Endowment Subaccount) be placed to the special and general reserve. After the placement of GRA FY 2018 net income to reserves, precautionary balances are projected to reach SDR 17.4 billion at the end of FY 2018. The paper further proposes to transfer currencies equivalent to the increase in the Fund’s reserves from the GRA to the Investment Account. The paper also revisits options for the allocation of net income between the special and general reserve, and proposes that net income be allocated equally between the special and general reserve. In line with the recent Board discussion of a framework for guiding future payouts from the Endowment Subaccount, the paper presents a detailed proposal, which includes delaying payouts for three years to protect the real value of the Endowment. The paper also recommends that the margin for the rate of charge for the period FY 2019–2020 be kept unchanged at 100 basis points. The margin will again be set under the exceptional circumstances clause, as non-lending income continues to be constrained by the low interest rate environment and lending income will be used to finance a portion of the Fund’s non-lending activities. The projections for FY 2019 and FY 2020 point to a net income position of SDR 0.4 billion and SDR 1 billion, respectively. These projections are subject to considerable uncertainty and are sensitive to a number of assumptions."
Book Synopsis IMF Financial Operations 2018 by : International Monetary Fund. Finance Dept.
Download or read book IMF Financial Operations 2018 written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2018-04-18 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: IMF Financial Operations 2018 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and provides background detail on the financial statements. It reviews the IMF's three main activities: lending, surveillance, and technical assistance.
Book Synopsis The Fund's Income Position For FY 2016 by : International Monetary Fund. Finance Dept.
Download or read book The Fund's Income Position For FY 2016 written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2016-08-26 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reports the Fund’s income position for FY 2016 following the closing of the Fund’s accounts for the financial year and completion of the external audit. FY 2016 net income, including income from surcharges, was unchanged from the amount of SDR 998 million projected in April. GRA net income for FY 2016 of about SDR 1 billion has been placed to the Fund’s reserves, further strengthening the Fund’s precautionary balances, which reached SDR 15.2 billion at the end of FY 2016. Following the completion of the Executive Board’s review of the investment strategy for the Fixed-Income Subaccount and consistent with the discussions in April, currencies totaling about SDR 3.7 billion will be transferred to the Investment Account during September and October 2016. This comprises currencies equivalent to the net income retained in the GRA in FY 2014 (SDR 1.2 billion) and FY 2015 (SDR 1.5 billion), together with the currencies equivalent to the FY 2016 GRA net income of about SDR 1 billion.
Book Synopsis Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Ninth Issue by : International Monetary Fund. Legal Dept.
Download or read book Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Ninth Issue written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2017-08-01 with total page 1048 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume documents decisions, interpretations, and resolutions of the Executive Board and Board of Governors of the International Monetary Fund, as well as documents relating to the United Nations and other international organizations.
Book Synopsis Review Of The Fund’s Income Position For FY 2019 And FY 2020 by : International Monetary Fund. Finance Dept.
Download or read book Review Of The Fund’s Income Position For FY 2019 And FY 2020 written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2019-06-28 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the Fund’s income position for FY 2019 and FY 2020. The paper updates projections provided in April 2018 and proposes decisions for the current year. The paper includes a comprehensive review of the Fund’s income position as required under Rule I-6(4). No change is proposed in the margin for the rate of charge that was established under this rule in April 2018 for the period FY 2019–20.
Book Synopsis IMF Financial Operations 2016 by : International Monetary Fund. Finance Dept.
Download or read book IMF Financial Operations 2016 written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2016-11-04 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: IMF Financial Operations 2016 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and also provides background detail of the financial statements for the IMF's activities during the most recent financial year. This publication (currently in its third edition) updates a previous report entitled Financial Organization and Operations of the IMF, first published in 1986 and last issued in 2001 (the sixth edition). That 2001 report reflected the seismic shifts in the global economy and in the IMF's structure and operations that occurred after the fall of the Soviet Union and the various currency and financial crises of the 1990s. This revised and updated report covers more recent developments, including reform of the IMF’s income model, measures taken in response to the global financial crisis of 2007–09, and the institutional reforms aimed at ensuring that the IMF's governance structure evolves in line with developments in the global economy.
Book Synopsis Review of the Adequacy of the Fund's Precautionary Balances by : International Monetary Fund. Finance Dept.
Download or read book Review of the Adequacy of the Fund's Precautionary Balances written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2018-02-06 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the adequacy of the Fund’s precautionary balances, using the framework approved by the Board in 2010. The review takes place on the standard two-year cycle and assesses developments since the last review in 2016.
Book Synopsis The Consolidated Medium-Term Income and Expenditure Framework by : International Monetary Fund. Finance Dept.
Download or read book The Consolidated Medium-Term Income and Expenditure Framework written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2016-08-04 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: The medium-term income projections have been updated from the April 2015 outlook and the February review of the adequacy of precautionary balances. The main changes to the outlook stem from a more gradual rise in the SDR interest rates and lower surcharge income following the lowering of the surcharges threshold. The revised projections still show a positive forecast for net operational income (and surcharges) over the medium term, albeit lower than projected a year ago. Lending income (excluding surcharges) is marginally higher compared with earlier estimates. Surcharge income is estimated to be lower, reflecting the adjustment of the surcharges thresholds following the implementation of quota increases under the 14th General Review. Projected income from the Fixed-Income Subaccount of the Investment Account and interest-free resources are expected to increase more gradually over the medium-term as market indicators now point to a slower rise in interest rates from their current low levels. The expenditure path includes an increase in real terms of about 1⁄2 percent in the net administrative budget for FY 2017 to accommodate rising costs for physical and IT security. Moreover, reflecting further upward pressure over the medium term and uncertainty about the scope for offsetting savings, the traditional baseline assumption of a constant real spending envelope in the outer years is complemented by an alternative scenario with a further moderate spending increase of 11⁄2 percent, phased in over FY 2018–19. In addition, a lower projected U.S. dollar/SDR exchange rate increases the expenses in SDR terms.
Book Synopsis Review of the Fund's Income Position for FY 2015 and FY 2016 by : International Monetary Fund
Download or read book Review of the Fund's Income Position for FY 2015 and FY 2016 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-06-04 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author :International Monetary Fund. Secretary's Department Publisher :International Monetary Fund ISBN 13 :1513568817 Total Pages :74 pages Book Rating :4.5/5 (135 download)
Book Synopsis International Monetary Fund Annual Report 2021 by : International Monetary Fund. Secretary's Department
Download or read book International Monetary Fund Annual Report 2021 written by International Monetary Fund. Secretary's Department and published by International Monetary Fund. This book was released on 2021-10-04 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.
Author :International Monetary Fund. Office of Budget and Planning Publisher :International Monetary Fund ISBN 13 :1513545817 Total Pages :92 pages Book Rating :4.5/5 (135 download)
Book Synopsis FY 2021-FY 2023 Medium-Term Budget by : International Monetary Fund. Office of Budget and Planning
Download or read book FY 2021-FY 2023 Medium-Term Budget written by International Monetary Fund. Office of Budget and Planning and published by International Monetary Fund. This book was released on 2020-05-29 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: On April 27, 2020, the Executive Board of the International Monetary Fund (IMF) approved the IMF’s administrative and capital budgets for financial year (FY) 2021, beginning May 1, 2020, and took note of indicative budgets for FY 2022–23.
Book Synopsis Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting, November 23, 2015 by : International Monetary Fund
Download or read book Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting, November 23, 2015 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-11-23 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Managing Director’s Global Policy Agenda (GPA) presented to the IMFC last month highlights the challenges associated with a rapidly changing and uncertain world. The limited room for policy maneuver and the need to adapt to new realities pose difficult trade-offs between supporting demand and current activity, reducing financial risks as financial conditions tighten, and implementing needed structural reforms to revive growth. Against this backdrop the GPA called to support growth today, invest in resilience and safeguard financial stability, improve the sustainability of the public finances, implement the structural reforms needed for sustainable and inclusive medium-term growth, and secure the effectiveness of the 2010 reforms. This document translates the policy priorities and strategic directions laid out in the Fall 2015 GPA and the IMFC communiqué into an Executive Board agenda for the next twelve months. The key focus of this agenda is to continue to refine and adapt the Fund’s core activities?surveillance, lending, and capacity building?to the challenges faced by member countries. The 2015 Work Program continues the implementation of the 2014 Triennial Surveillance Review (TSR) recommendations and underpins a broader effort of the Fund to respond to the needs of the membership in an even more agile, integrated, and member-focused manner.
Book Synopsis Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting, June 3, 2015 by : International Monetary Fund
Download or read book Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting, June 3, 2015 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-03-06 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Managing Director’s Global Policy Agenda (GPA) presented to the IMFC in April identified a range of actions needed to bolster today’s actual and tomorrow’s potential output, diminish risks, and confront emerging global challenges. These actions included calibrating fiscal adjustment to economic conditions while establishing credible long-term fiscal frameworks and implementing growth-friendly fiscal policies, improving monetary policy effectiveness while containing excessive financial risk-taking, and accelerating structural reforms to raise growth potential and ensure inclusiveness. The GPA also outlined how the Fund would support the membership through assessments and policy advice provided in the context of multilateral and bilateral surveillance, financial support, and capacity building. This document translates the policy priorities laid out in the GPA and the IMFC communiqué into a work agenda for the Executive Board over the next 12 months. In particular, the Board will be engaged on several issues of multilateral scope, including quota reform and resources, the SDR basket review, challenges facing the international monetary system, and the post-2015 global development agenda. The work program also includes several items from the action plan of the 2014 Triennial Surveillance Review (TSR).
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344828 Total Pages :106 pages Book Rating :4.4/5 (983 download)
Book Synopsis FY2016 - FY2018 Medium-Term Budget by : International Monetary Fund
Download or read book FY2016 - FY2018 Medium-Term Budget written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-03-30 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the net administrative budget, the FY 16–18 medium-term budget (MTB) proposal includes: In FY 16, an unchanged budget envelope in real terms, for the fourth year in a row. To accommodate new and ongoing strategic priorities of the Fund within a flat envelope, efforts to reallocate resources away from lower-priority activities and achieve efficiency gains were stepped up both at the departmental level and across the institution. Savings measures implying a reallocation of resources of close to 5 percent of the net administrative budget were identified through this process. The bulk of these savings would be used to help meet the new priorities highlighted in the Global Policy Agenda and in Management’s Key Goals, while preserving room at the departmental level to further reduce work pressures, phase in the new streamlining measures and, more generally, cope with business uncertainties and unanticipated demands. This robust prioritization effort implies difficult trade-offs and the willingness to cut lower-priority activities in order to create space for new initiatives. For FY 17–18, as a baseline assumption, a flat real budget envelope as well. Against the backdrop of a robust income position, the Fund’s medium-term budget formulation is guided primarily by considerations of prudence and credibility. The medium-term spending path will depend on new demands placed on the institution, and the scope for further reprioritization, and will be reassessed in the context of the FY 17–19 budget.
Book Synopsis The Consolidated Medium-Term Income and Expenditure Framework by : International Monetary Fund
Download or read book The Consolidated Medium-Term Income and Expenditure Framework written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-04-22 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: The medium-term income projections have been updated since the last estimate provided to the Executive Board in April 2013. Lending income is higher compared with the earlier estimates as a result of new arrangements approved since April 2013. Non-lending income is lower primarily due to revised projections for investment income. The updated expenditure path assumes the net administrative budget remains constant in real terms at the FY 2014 level, implying a nominal medium-term path that is somewhat higher than in the April 2013 projections. Precautionary balances are projected to reach the current target of SDR 20 billion in FY 2018. The projections also illustrate a broad balance between income and expenditures even if lending were to return to pre-crisis levels.
