Economy
IMF Forecasts Net Income of $2.4 Billion in Current Year
Published:
Last Updated:
The International Monetary Fund has posted its financials. Below are the results:
The Executive Board of the International Monetary Fund (IMF) completed its annual review of the Fund’s income position for the financial years ending April 30, 2019 (FY 2019) and FY 2020, on April 5, 2019.
FY 2019 Income Position
Total FY 2019 net income, including income from surcharges applied to higher access borrowing from the IMF, was projected at SDR 0.5 billion (US$0.7 billion). Net income excluding the retained earnings of the gold endowment, will be added to the IMF’s precautionary balances which areprojected to reach SDR 17.7 billion (US$24.8 billion) at end-FY 2019. The net income position for FY 2019 is broadly in line with the April 2018 estimate and reflects the increase in lending and investment income; largely offset by the IAS (International Accounting Standard) 19 loss, relating to reporting of employee benefits.
FY 2020 Income Position and Lending Rate
Net income of SDR 1.7 billion (US$2.4 billion) is projected for FY 2020. The projections are subject to a high degree of uncertainty and are sensitive to the timing and amounts of disbursements under approved arrangements included in the projections, possible new arrangements, and the performance of the Fund’s investment portfolio. The projected net income will allow the IMF to continue to accumulate precautionary balances.
The IMF charges member countries a basic rate of charge on the use of IMF credit, which is determined as the SDR interest rate plus a margin expressed in basis points. In April 2018 the Executive Board set the margin for this rate of charge at 100 basis points for financial years FY 2019 and FY 2020. In the context of this year’s comprehensive review of the Fund’s income position at the midpoint of this two-year period, the Executive Board concluded that the margin should remain unchanged.
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.