› › The Fund S Income Position For Fy 2009 Midyear Review

The Fund's Income Position for FY 2009-Midyear Review

Author : International Monetary Fund. Finance Dept.

Publisher : International Monetary Fund

Page : 14 pages

File Size : 16,87 MB

Release : 2008-05-12

Category : Business & Economics

ISBN : 1498333893

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Book Description

This paper reviews the outlook for the Fund’s income position for the financial year 2009 taking into account developments through the first half of the year. The FY 2009 income outlook has improved, mainly as a result of new lending activity associated with the turmoil in global financial markets, together, to a lesser extent, with stronger-than-projected returns in the Investment Account (IA) in the first half of the financial year. The updated projections indicate that the net income position would be slightly positive in FY 2009. However, the actual outcome remains subject to considerable uncertainty related to the timing and amounts of disbursements under current arrangements, as well as potential new arrangements and the performance of the IA



Review of the Fund's Income Position for FY 2009 and FY 2010

Author : International Monetary Fund. Finance Dept.

Publisher : International Monetary Fund

Page : 33 pages

File Size : 11,5 MB

Release : 2009-04-14

Category : Business & Economics

ISBN : 1498336078

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Book Description

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.



The Fund's Income Position for FY 2010—Midyear Review

Author : International Monetary Fund. Finance Dept.

Publisher : International Monetary Fund

Page : 14 pages

File Size : 19,25 MB

Release : 2009-07-12

Category : Business & Economics

ISBN : 1498335071

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Book Description

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.



Review of the Fund's Income Position for FY2008 and FY2009

Author : International Monetary Fund. Finance Dept.

Publisher : International Monetary Fund

Page : 26 pages

File Size : 12,34 MB

Release : 2008-04-14

Category : Business & Economics

ISBN : 1498334628

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Book Description

This paper provides the basis for the annual review of the Fund’s income position, including a review of the system of special charges. The paper also sets out proposed decisions relating to the Fund’s income position for FY 2008 and FY 2009. The review takes account of the recent discussions in the Executive Board on the new income model for the Fund. The paper is structured as follows: Section II reviews the Fund’s FY 2008 income position, provides an explanation of key variances from projections, and discusses the impact of restructuring costs on the income position; Section III makes proposals for the disposition of investment income and the General Resources Account (GRA) income position; Section IV outlines updated projections and proposes a margin for the rate of charge for FY 2009; Section V provides an update on the burden sharing mechanism; and Section VI reviews special charges.



Review of the Fund’s Income Position for FY 2010 and FY 2011

Author : International Monetary Fund. Strategy, Policy, & Review Department

Publisher : International Monetary Fund

Page : 39 pages

File Size : 11,25 MB

Release : 2010-04-23

Category : Business & Economics

ISBN : 149833752X

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Book Description

Securing the recovery. The global recovery has been better than expected. The WEO projections see global output expanding by about 41⁄4 percent in 2010 and 2011. Extraordinary and coordinated policy intervention since the crisis has all but eliminated the risk of another Great Depression, laying the foundation for recovery. Nevertheless, the recovery is proceeding at varying speeds—it is tepid and policy-dependent in many advanced economies, but solid in most emerging and developing economies.



Review of the Fund's Income Position for FY 2012 and FY 2013-14

Author : International Monetary Fund. Finance Dept.

Publisher : International Monetary Fund

Page : 40 pages

File Size : 45,67 MB

Release : 2012-12-04

Category : Business & Economics

ISBN : 1498340709

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Book Description

This paper reviews the Fund’s income position for FY 2012 and FY 2013?14.1 The paper updates projections provided at the FY 2012 midyear review and proposes decisions for the current and next two financial years. These decisions include setting the margin for the rate of charge under the new Rule I-6(4) that the Executive Board adopted in December 2011.2 The new rule is based on principles endorsed by the Executive Board in April 2008 and that have guided decisions on setting the margin since FY 2009. Section II reviews the FY 2012 income position and main changes from the midyear projections; Section III makes proposals on the disposition of net income, and placement to reserves; Section IV discusses the margin on the rate of charge for FY 2013?14, the income outlook for that period, and projected burden sharing adjustments; and Section V reviews special charges.



The Fund's Income Position for FY2007 - Midyear Review

Author : International Monetary Fund. Legal Dept.

Publisher : International Monetary Fund

Page : 16 pages

File Size : 23,38 MB

Release : 2006-07-12

Category : Business & Economics

ISBN : 1498331963

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Book Description

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.



Review of the Fund's Income Position for FY 2011 and FY 2012

Author : International Monetary Fund. Finance Dept.

Publisher : International Monetary Fund

Page : 40 pages

File Size : 12,27 MB

Release : 2011-07-04

Category : Business & Economics

ISBN : 1498339050

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Book Description

This paper reviews the Fund’s income position for FY 2011 and FY 2012. The paper updates projections provided at the FY 2011 midyear review and sets out related proposed decisions for the current and next financial years. A companion paper provides an update on the consolidated medium-term income and expenditure framework.



The Fund's Income Position for FY 2011 - Midyear Review

Author : International Monetary Fund. Finance Dept.

Publisher : International Monetary Fund

Page : 11 pages

File Size : 46,66 MB

Release : 2010-06-12

Category : Business & Economics

ISBN : 1498336493

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Book Description

This paper updates the outlook for the IMF’s income position for the financial year 2011 taking into account developments in the first half of the year. The outlook has improved primarily reflecting additional lending activity, which raised the projected average credit outstanding in FY 2011 by about SDR 3 billion to SDR 54 billion. Net operational income for FY 2011 is projected at SDR 328 million, some SDR 126 million higher than the projection in April 2010.1 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 (IA).



Review of the Fund’s Income Position for FY 2013 and FY 2014

Author : International Monetary Fund. Finance Dept.

Publisher : International Monetary Fund

Page : 35 pages

File Size : 24,36 MB

Release : 2013-04-30

Category : Business & Economics

ISBN : 149834187X

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Book Description

This paper reviews the Fund’s income position for FY 2013 and FY 2014. The paper updates projections provided at the FY 2013 midyear review and proposes decisions for the current and next financial year. The paper includes a comprehensive review of the Fund’s income position as required under the new Rule I-6(4) adopted in December 2011 (see Box 1). Based on this review, no change in the margin for the rate of charge is proposed. The paper is structured as follows: The first section reviews the FY 2013 income position and the main changes from the midyear projections; the second section makes proposals on the disposition of FY 2013 net income, and placement to reserves; the third section discusses the margin on the rate of charge for FY 2014, updates the income projections, and reviews the projected burden sharing adjustments; and the last section reviews special charges.