IMF executive board approves 2017 medium-term budget

The executive board of the International Monetary Fund (IMF) approved the financial body’s administrative and capital budgets for financial year (FY) 2017, beginning May 1, 2016, and took note of indicative budgets for FY2018–19. 

The net administrative budget for FY2017, which covers all administrative expenses net of receipts (primarily from external sources to help support capacity-building activities and excluding lending income), has been set at $1.072 billion.

As is customary, small adjustments were made in the budget to accommodate increases in the salary structure and in the cost of non-personnel expenses, in line with price increases.

In addition, after four years of zero real growth, the FY2017 budget includes an increase of 0.5 percent in constant dollar terms to cover the institution’s rising IT and physical security costs. The budget envelope also entails reallocation measures of 1.5 percent of resources and institution-wide savings to meet new high priority tasks and commitments to the membership.

The FY2017 capital budget, set at $60.5 million, provides financing for new capital projects for building facilities and IT.