Review of the Fund's Income Position for FY 2015 and FY 2016 / International Monetary Fund.

Format:

Book

Author/Creator:

International Monetary Fund, author, issuing body.

Series:

Policy Papers ; Number 15/029

Language:

English

Subjects (All):

Debt relief.

Monetary policy--Decision making.

Monetary policy.

Physical Description:

1 online resource (46 pages).

Place of Publication:

Washington, D.C. : International Monetary Fund, 2015.

Summary:

FY 2015 net income is now projected at SDR 1.5 billion. Lending continues to be the main source of income, although advance repurchases have lowered projected lending income in FY 2015 by SDR 0.3 billion. Investment income remains constrained in the low interest environment but the returns were somewhat stronger than projected. A revaluation of pension obligations, required under accounting standard IAS 19 and stemming from a further fall in the discount rate, is projected to entail an adjustment to FY 2015 net income of about SDR 0.8 billion. The paper proposes that GRA net income of SDR 1.3 billion, which excludes the retained earnings of the gold endowment, be placed to the special reserve.* After the placement to reserves, precautionary balances are projected at SDR 14.0 billion at the end of FY 2015. The paper further proposes to retain currencies available for transfer to the Investment Account in the GRA, pending completion later this year of the Board's review of the mandate for the Fixed-Income Subaccount.

Contents:

Front Matter

Review of the Fund's Income Position for FY 2015 and FY 2016.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781498385404

1498385400