Press Release No. 15/228

Press Release: IMF Executive Board Approves FY2016–FY2018 Medium-Term Budget

May 19, 2015

On April 23, 2015, the Executive Board of the International Monetary Fund (IMF) approved the IMF’s administrative and capital budgets for financial year (FY) 2016, beginning May 1, 2015, and took note of indicative budgets for FY2017–18.

The net administrative budget for FY2015, which covers all administrative expenses net of receipts (primarily from donors to help support capacity building activities and excluding lending income), has been set at US$1.052 billion. This envelope is based on an unchanged resource envelope in real terms for the fourth year in a row, with a small adjustment for increases in the salary structure and in the costs of non-personnel expenses. To meet the evolving needs of the membership within a flat real envelope, close to 5 percent of current resources will be reallocated to new high-priority needs and tasks. In addition, savings will be realized on a range of products and processes, mainly through a more risk-based approach to resource allocation.

The FY2016 capital budget, set at US$42.1 million, provides financing for new capital projects for building facilities and IT.

Additional information can be found in the staff papers: The FY2016–FY2018 Medium-Term Budget; Selected Streamlining Proposals Under the FY16–18 Medium-Term Budget—Implementation Issues.