Press Release No. 11/11

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, 2011 (FY 2011).

In completing the midyear review, the Executive Board decided to leave the rate of charge—the interest rate the IMF charges member countries for non-concessional IMF credit—unchanged at 100 basis points above the SDR interest rate for FY 2011.

The updated outlook for FY 2011 net operational income is SDR 328 million (about US$507 million), compared with SDR 202 million (about US$312 million) envisaged at the beginning of the financial year (See Press Release No. 10/204). The FY 2011 outlook has changed mainly as a result of higher projected lending income. The actual outcome remains subject to considerable uncertainty related to the timing and amounts of disbursements under current arrangements with member countries, as well as potential new arrangements and the performance of the Investment Account.