IMF Executive Board Approves FY 2021-FY 2023 Medium-Term Budget
May 29, 2020
WASHINGTON, DC — On April 27, 2020, the Executive Board of the International Monetary Fund
(IMF) approved the IMF’s administrative and capital budgets for financial
year (FY) 2021, beginning May 1, 2020, and took note of indicative budgets
for FY 2022–23.
The budget is set amidst extraordinary uncertainty related to the COVID-19
outbreak, which will have a significant impact on Fund operations in FY 21.
The resource needs associated with the changing circumstances will continue
to be assessed in coming months.
The approved net administrative budget for FY 2021, which covers all
administrative expenses less receipts (primarily from external sources
to help support capacity building activities and excluding lending
income), has been set at US$1,186 million. The approved FY 2021 budget
represents an unchanged resource envelope in real terms for the ninth
year in a row, measured relative to the IMF’s budget deflator, with the
exception of a small (0.6 percent) increase in FY 2017 to meet rising
information and physical security costs. At the same time, in light of
immediate crisis-related needs, the Executive Board has approved a
temporary increase in the maximum amount of unused budget resources
that can be carried forward from previous years from 3 to 5 percent of
the underlying budget.
The FY 2021 capital budget is set at US$99 million and provides financing
for building facilities and information technology capital projects. This
includes projects to overhaul work practices and modernize digital
platforms and tools. In addition, a revised Capital Investment Framework
has been put in place to codify governance and procedures in line with the
changing landscape for capital investment.
Additional information can be found in the staff paper:
IMF Communications Department
PRESS OFFICER: Wafa Amr
Phone: +1 202 623-7100Email: MEDIA@IMF.org