Press Release No. 11/484

Press Release: IMF Executive Board Completes Midyear Review of Fund's Income Position

December 22, 2011

The Executive Board of the International Monetary Fund (IMF) has completed its midyear review of the Fund's income position for the financial year ending April 30, 2012 (FY 2012).

In completing the midyear review, the Executive Board decided to leave the rate of charge—the interest rate the IMF charges member countries for nonconcessional IMF credit—unchanged at 100 basis points above the SDR interest rate for FY 2012.

The updated outlook for FY 2012 is broadly unchanged with net operational income projected at SDR 500 million (about US$770 million), compared with SDR 482 million (about US$742 million) envisaged at the beginning of the financial year (See Press Release No. 11/167). Somewhat higher income from lending than originally projected was partially offset by lower returns owing to the prevailing interest rate environment.