Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 10 pages
File Size : 37,72 MB
Release : 2005-02-12
Category : Business & Economics
ISBN : 1498330800
This paper presents the Fund’s actual outcome for the first half of FY 2006 together with updated income projections for the year as a whole.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 5 pages
File Size : 46,10 MB
Release : 2006-05-01
Category : Business & Economics
ISBN : 1498333044
This paper provides updated information on the Fund’s income position. The regular midyear review of the Fund’s income for FY 2006 was completed by the Executive Board on December 9, 2005. That review projected a small shortfall of SDR 18 million from the regular net income target of SDR 188 million. The projection was based on the usual set of assumptions, including that repurchases would be made as scheduled.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 43 pages
File Size : 49,66 MB
Release : 2006-12-04
Category : Business & Economics
ISBN : 1498332730
This paper provides the basis of the Executive Board's annual review of the Fund's income position, the burden-sharing mechanism, and the system of special charges, and makes proposals for the rate of charge in FY07.
Author : International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
Page : 16 pages
File Size : 11,21 MB
Release : 2006-07-12
Category : Business & Economics
ISBN : 1498331963
In March and April this year, Executive Directors had wide-ranging discussions on the Fund’s income outlook, which has changed significantly following the recent sharp decline in credit outstanding. Directors supported the proposal for a two-pronged strategy that would involve, first, immediate steps to address the projected income shortfall in FY2007 under current policies and within the framework of the FY2007 budget and, second, development of a broader work plan on the options to ensure a stable and sustainable income base.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 12 pages
File Size : 29,24 MB
Release : 2007-07-12
Category : Business & Economics
ISBN : 1498333109
This paper provides the basis for the Executive Board’s midyear review of the Fund’s income position based on developments in the first half of FY 2008. Under Rule I-6(4) of the Fund’s Rules and Regulations, the Executive Board should consider whether the margin over the SDR interest rate used to calculate the rate of charge as determined at the beginning of the year should be changed in light of the actual income position for the first six months.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 11 pages
File Size : 26,88 MB
Release : 2011-05-12
Category : Business & Economics
ISBN : 1498338178
This paper updates the outlook for the Fund’s income position for FY 2012. The overall outlook is broadly unchanged, with the FY 2012 net operational income now projected at SDR 500 million compared with the projection of SDR 482 million in April 2011. This primarily reflects additional lending activity, which is partially offset by lower implicit returns on the Fund’s interest-free resources owing to the prevailing interest rate environment.1 The actual outcome is subject to considerable uncertainty in light of conditions in the global economy, which could affect the timing and amounts of disbursements under current and potential new arrangements and the performance of the Investment Account (IA).
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 14 pages
File Size : 42,18 MB
Release : 2009-07-12
Category : Business & Economics
ISBN : 1498335071
This paper updates the outlook for the Fund's income position for FY 2010, taking into account developments in the first half of the financial year. The FY 2010 income outlook has improved relative to the baseline projections at the beginning of the year,1 mainly as a result of the combination of higher projected lending income, and lower expenditures, in SDR terms, reflecting the depreciation of the U.S. dollar and a projected underrun in the budget. Net operational income for FY 2010 is projected at about SDR 440 million compared with the previous baseline projection of SDR 290 million in April 2009. However, the actual outcome is subject to considerable uncertainty related to the timing and amounts of disbursements under current and potential new arrangements and the performance of the Investment Account.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 39 pages
File Size : 44,47 MB
Release : 2007-09-04
Category : Business & Economics
ISBN : 149833363X
The review of income for the year ended April 30, 2007 (FY07) builds on the midyear income review and the February 2007 meeting of the Committee on the Budget
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 33 pages
File Size : 28,54 MB
Release : 2006-02-17
Category : Business & Economics
ISBN : 149833296X
This paper puts forward a number of measures which, if implemented, would eliminate the income gap in FY07. However, these measure still leave a large financing gap moving forward. Therefore, further work is needed to examine mechanisms for financing the Fund’s operations in the medium-term in a manner that ensures that the Fund has a sound financial basis to operate without relying on sharp growth in lending.
Author : International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 33 pages
File Size : 49,24 MB
Release : 2009-04-14
Category : Business & Economics
ISBN : 1498336078
This paper reviews the Fund’s income position for FY 2009 and FY 2010. The proposals build on previous discussions relating to implementation of the new income model, the framework for accumulating precautionary balances, and the recent reform of the Fund’s lending toolkit. The paper is structured as follows: Section II reviews the income position for FY 2009 and explains the main changes from the projections at the midyear review; Section III makes proposals that pertain to the FY 2009 income position, including the disposition of investment income, the overall income position of the General Resources Account (GRA), and the annual reimbursement of the GRA for the expenses of conducting the business of the SDR Department and the MDRI-I Trust; Section IV reviews the FY 2010 income outlook, including the margin for the rate of charge; Section V reviews the burden sharing mechanism; and Section VI reviews special charges.
