Review of the Fund's Income Position for FY 2025 and FY 2026

International Monetary Fund

No 2025/016, IMF Policy Papers from International Monetary Fund

Abstract: This paper updates the projections of the Fund’s income position for FY 2025 and FY 2026 and proposes related decisions for the current and the following financial years. The paper includes proposed decisions to transfer part of its net income to facilitate the generation of subsidy resources for Poverty Reduction and Growth Trust (PRGT) and to initiate the payout from the Endowment Subaccount to meet administrative expenses. It also includes a proposed decision to keep the margin for the rate of charge unchanged at the level set by the Executive Board in October 2024. The Fund’s total comprehensive income for FY 2025 is projected at about SDR 3.4 billion after taking into account the projected pension-related remeasurement gain and estimated retained income in the Investment Account.

Keywords: Administrative expenses; Budget planning and preparation; Credit; Discount rates; Distribution; Expenditures; FY 2025; Global; Income; Income Position; Investment Income; IPAA; Lending Income; Margin for the Rate of Charge; Market condition; Payout; Pension; Precautionary Balances; PRGT; Provisioning; Reimbursement; Remeasurement; Reserve Accumulation; Review of charges and the surcharge policy; SDR interest rate; Surcharges; Transparency policy; Volatility; investment account currency; fund's income position; equivalent amount; GRA net income; distribution decision; Credit risk (search for similar items in EconPapers)
Pages: 58
Date: 2025-05-02
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