The Fund's Income Position for FY 2017 - Actual Outcome

Author: International Monetary Fund. Finance Dept. and International Monetary Fund. Legal Dept.

This paper reports the Fund’s income position for FY 2017 following the closing of the Fund’s accounts for the financial year and completion of the external audit. 46795 This note provides guidance on use of third-party indicators (TPIs) in Fund reports, in line with the policy endorsed by the Board in November 2017. 46796 I would like to thank the Independent Evaluation Office (IEO) for preparing this informative update on the 2008 report on governance of the IMF. 46797 Trade integration can play a much larger role in boosting shared prosperity. 46798 This management implementation plan (MIP) proposes actions to advance the Board-endorsed recommendations of the IEO evaluation “The IMF and Fragile States.

Volume/Issue: Volume 2018 Issue 043

Publication date: September 2018

ISBN: 9781498309608

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , PP , income , SDR Department , fy , SDR billion , timing adjustment , fund's income position , employee benefit expenses , April estimate of SDR , Personal income , Financial statements , Budget planning and preparation

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Summary

This paper reports the Fund’s income position for FY 2017 following the closing of the Fund’s accounts for the financial year and completion of the external audit. Total FY 2017 net income, including income from surcharges, amounted to SDR 1.9 billion or about SDR 258 million higher than estimated in April, reflecting mainly a larger than anticipated gain reported under IAS 19 (the accounting standard for employee benefits). GRA net income for FY 2017 was about SDR 1.49 billion and has been placed to the Fund’s reserves. In accordance with decisions taken in April 2017, a net transfer of currencies amounting to SDR 1.41 billion was made in August 2017 from the GRA to the Investment Account. The placement of the net income to the Fund’s reserves has further strengthened the Fund’s precautionary balances, which reached SDR 16.7 billion at the end of FY 2017.