## EXECUTIVE SUMMARY

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### FY2020 HIGHLIGHTS
- Spending was 99.3 percent of the $1.158 billion total net administrative budget.  
- $1.150 bn Total net administrative expenditures.  
- 68 countries with IMF facilities and instruments (this includes 41 countries for which emergency financing was approved in the last two months of FY 20).  
- $2.1 mn Average spending per country on bilateral surveillance, lending, and capacity development.  
- $55.2 mn Carry forward available for FY 21 to meet transitional needs; some $45 million for general use and the remainder for the Offices of the Executive Directors (OED) and the Independent Evaluation Office (IEO).  
- 84 percent utilization of available externally financed budget; reflecting in part the immediate crisis impact on travel late in the year.  
- $168 mn Externally financed spending.  
- $107 mn Capital spending.  
  - About 20 percent of capital spending went to completion of the HQ1 renewal, with the remainder equally split between facilities and IT-supported projects.

### OVERVIEW: FY2020 OUTTURN AND CARRY FORWARD
- Total net administrative expenditures were $1,150 million, or 99.3 percent of the approved structural budget of $1,158 million.  
- Relative to total net available resources (which included $31 million in carry forward for general use and $15 million for OED and IEO from FY 19), the utilization rate was 95.4 percent.  
- Utilization of the net Fund-financed budget was 99.3 percent, with the underrun reflecting the impact of the COVID-19 related crisis, including on travel expenditures.  
- Given Board approval in April of an increase in the Fund’s general administrative carry forward limit from 3 to 5 percent, $45 million in carry forward resources will be available for general use under the FY 21 budget.  
- The total FY 21 carry forward of $55.2 million is made up of $44.5 million for general use (including $4.9 million transferred from the OED carry forward), an additional $10.2 million for OED, and $0.5 million for IEO. The total carry-forward limit is $69.4 million, of which $53.8 million is for general use.

### SPENDING BY OUTPUTS — CRISIS IMPACT AND RESOURCE REALLOCATION
- Emergency financing and demand:
  - Within two months at end FY 20, the Board approved 41 emergency financing cases across all regions.  
  - Over 100 members approached the Fund about possible emergency financing (continuing into FY 21).
- Staff activity and overtime:
  - Total recorded staff time on main outputs increased by 10 percent in FY 20 Q4 relative to FY 19 Q4.  
  - Recorded overtime hours increased by 40 percent in FY 20 Q4.  
  - Lending and non-country work together increased by over 30 percent in FY 20 Q4 relative to FY 19 Q4.
- Resource response with unchanged staff resources:
  - Reprioritization and informal reallocations.  
  - Staff overtime and untaken leave.  
  - Reallocation from Article IVs, FSAPs and CD to support increased lending (Article IVs, FSAPs and CD declined a combined 8 percent during the period).  
  - Streamlining of operational procedures and temporary reassignment of staff from functional CD departments to area departments, Finance (FIN), and Strategy, Policy and Review Departments (SPR).
- Implication: adjustments met immediate needs but point to limits and increased workload going forward.

### SPENDING BY THEMATIC CATEGORY (FUND-FINANCED)
- Country operations:
  - Overall country operations (bilateral surveillance, lending, and CD) were below the Fund-financed budget by some $19 million, largely reflecting travel.  
  - Lending spending was higher-than-expected by $4 million, offset by lower-than-projected spending on bilateral surveillance and CD.  
- Analytical work:
  - Analytical work was below budget by $4 million, despite some increase late in the year.  
- Other categories:
  - Other expenditures (multilateral surveillance, global cooperation, Fund policies, Fund finances) were broadly as planned.  
  - Governance and membership related work was below budget, partly due to the virtual Spring Meetings.
- Table excerpt (as reported):
  - Total gross expenditures: Budget 1,397; Outturn 1,350; Utilization (percent) 96.6 (FY20).  
  - Fund-financed: Budget 1,197; Outturn 1,182; Utilization (percent) 98.7 (FY20).  
  - Externally financed: Budget 200; Outturn 168; Utilization (percent) 84.0 (FY20).  
  - Total net expenditures: Budget 1,158; Outturn 1,150; Utilization (percent) 99.3 (FY20).  
  - Total net available resources: Budget 1,205; Outturn 1,150; Utilization (percent) 95.4 (FY20).

### SPENDING ON FY20 PRIORITY TOPICS (NON-CD ESTIMATES)
- Financial surveillance:
  - Total spending ~ $77 million in FY 20, or 15 percent of bilateral and multilateral surveillance.  
  - Non-CD spending on fintech and cyber risk reached $6 million in FY 20.
- Fragile states:
  - Aggregate non-CD spending on fragile states estimated at $64 million in FY 20.  
  - Fragile states received $1.2 million in additional budgetary non-CD resources in FY 20.  
  - CD delivery in fragile states declined to $36 million in FY 20.
- Anti-corruption/governance:
  - Represented 13 percent of bilateral surveillance and lending; estimated non-CD spending $43 million (Country teams $37 million; Other $6 million).  
  - CD delivery on anti-corruption issues grew by almost 70 percent from a relatively low base.
- Other topic estimates:
  - Inclusive growth: Estimated non-CD spending $28 million.  
  - Social spending: Estimated non-CD spending $25 million.  
  - Climate change: Estimated spending $16 million in FY 20 (Country teams $14 million; Other $2 million).  
  - Gender: Estimated non-CD spending $9 million (Country teams $8 million; Other $1 million).  
  - Fintech/cyber risk: Estimated non-CD spending $6 million (Country teams $5 million; Other $1 million).  
  - International taxation: Estimated non-CD spending $4 million.  
  - Debt: Policy and analytical work estimated at $8 million.

### SPENDING RELATIVE TO FY19 — KEY CHANGES
- Country operations changes:
  - Lending activity rose by $17.9 million in FY 20.  
  - Bilateral surveillance declined by $15.9 million.  
  - FSAPs declined by $4.5 million (a 20 percent decline), with 9 FSAPs completed in FY 20 vs. 12 in FY 19.  
  - Total country operations declined by $30.4 million.  
  - CD: Fund and externally financed CD fell by about $23.5 million.
- Non-financial programs spending declined by $4.3 million, partly reflecting movement into programs and some late-year program augmentations.

### CAPITAL AND EXTERNALLY FINANCED SPENDING (SUMMARY)
- Externally financed expenditures:
  - Gross externally financed expenditures were $168 million, about $32 million (16 percent) below the $200 million budgeted level and $10 million (6 percent) below last year.
- Capital spending:
  - Capital spending totaled $107 million. About 20 percent of capital spending was for completion of the HQ1 renewal; the remainder was equally split between facilities and IT-supported projects.

### IMPACT ON GOVERNANCE AND INTERNAL SUPPORT SPENDING
- Governance and internal support declined by close to $19 million relative to FY 19.  
- COVID-19 related reductions totaled $8 million, including reduced spending on:
  - the April 2020 Spring Meetings, utilities, settlement travel.  
- Lower publication costs from moving toward digital products and a one-time reimbursement of legal fees also contributed.

### ANALYTICAL WORK, FUND POLICIES, AND MULTILATERAL SURVEILLANCE
- Analytical Work increased by $5½ million (6 percent), reflecting a ramp up in modeling and other macro-financial work in MCM.  
- Work on vulnerability and imbalances grew by $2.3 million (19 percent) within multilateral surveillance.  
- Decline in statistical information/data work reflects STA restructuring and temporary vacancies.  
- Net increase in spending on Fund policies was $0.5 million, reflecting reductions in surveillance/CD policy work and increases in lending-related policy work (e.g., emergency financing conditions, CCRT, new Short-term Liquidity Line).

### AVERAGE SPEND PER COUNTRY AND GROUP VARIATIONS
- Average country spending across the membership declined 7 percent relative to FY 19, to $2.1 million.  
- Increment between surveillance and program status remains $1-2 million.  
- Subgroup patterns:
  - Vulnerable countries: 5 percent increase in average spending.  
  - Small states: average spending stable at $1.2 million.  
  - African region: average spending increased and remained highest across regions.  
- Quarterly pattern: labor costs stable in Q4; travel costs account for most of the decline.

### SPENDING BY INPUTS — PERSONNEL
- Total spending (Fund- and externally financed) on personnel was $1,028 million, about $3 million above the total structural budget.  
- Fund-financed personnel spending exceeded the structural budget by about $18 million.  
- Externally financed personnel cost was about $15 million below budget.
- Personnel levels (FTEs) FY 18–20:
  - Total FY20: 3,912 (difference FY 19-20: 13)  
  - Fund-financed FY20: 3,485 (difference FY 19-20: 32)  
  - Externally financed FY20: 427 (difference FY 19-20: (19))  
  - Regular and term Fund-financed FY20: 2,886  
  - Expert and contractual Fund-financed FY20: 599  
  - Regular and term externally financed FY20: 96  
  - Expert and contractual externally financed FY20: 330

### OVERTIME AND STAFF PRESSURES
- Average Fund-wide overtime rates increased significantly in the last quarter of FY 20.  
- Overtime particularly high for B-level staff; the average rate for B-level staff exceeded the 15 percent red-light threshold in most departments.

### TRAVEL, MISSIONS, AND RELATED UNDERSPENDS
- Underspend in Fund-financed travel was $21 million, mainly due to lower than planned business travel ($19 million).  
- Externally financed missions spending declined by about 23 percent relative to last year.  
- In CD departments, externally financed travel expenses in the last two months of FY 20 were 60 percent lower than in the same period in FY 19.  
- Number of missions fell by over 1,100 relative to FY 19.
- Travel metrics FY 18 / FY 19 / FY 20:
  - Number of missions: 8,296 / 7,858 / 6,693  
  - Mission nights: 91,255 / 88,985 / 75,761  
  - Mission persons: 13,490 / 12,947 / 11,191

### BUILDINGS, IT, CONTRACTUAL SERVICES, AND OTHER EXPENSES
- Fund-financed spending on buildings and other services exceeded the structural budget by about $2 million.  
- Additional spending on remote working capabilities and contractual services, including virtual setups for interpretation.  
- Savings from the virtual Spring Meetings were $2.3 million.  
- Spending on contractual services plus subscriptions and printing, in aggregate, was in line with FY 19.

### BUDGET AND EXPENDITURE SUMMARY (SELECTED FIGURES)
- Net administrative budget: Budget $1,158; Outturn $1,150; Gap 8; Utilization 99.3 percent.  
- Gross administrative budget: Budget $1,397; Outturn $1,350; Gap 48; Utilization 96.6 percent.  
- Personnel: Budget $1,025; Outturn $1,028; Gap -3; Utilization 100.3 percent.  
- Travel: Budget $134; Outturn $97; Gap 37; Utilization 72.3 percent.  
- Buildings and other expenses: Budget $224; Outturn $225; Gap -1; Utilization 100.5 percent.  
- Contingency: Budget $15; Outturn $0; Gap 15.  
- Receipts: Budget -$239; Outturn -$199; Gap -40; Utilization 83.4 percent.  
- Trust Fund management fees in FY 20 were about $2 million below budget, at $12 million.

### SECURITY-RELATED SPENDING
- Security-related spending was about $38 million, a slight increase over FY 19.  
- FY 18, FY 19, FY 20 category values (millions):
  - HQ security: 16.0, 15.9, 15.8  
  - IT security: 9.3, 9.8, 10.4  
  - Field security: 10.1, 10.2, 10.3  
  - Business continuity: 1.1, 1.1, 1.3

### RECEIPTS AND BUDGET VARIANCE
- Total receipts: Budget 239; Outturn 199; Total receipts were about $40 million below budget, a decrease of $15 million compared to FY 19.  
- Externally financed capacity development receipts: Budget 200; Outturn 168.  
- General receipts: Budget 39; Outturn 31.  
  - Administrative and trust fund management fees: Budget 14; Outturn 12.  
  - Publications income: Budget 3; Outturn 0.  
  - HQ2 lease: Budget 1; Outturn 1.

### CARRY FORWARD (FY 20)
- FY 20 budgeted carry forward:
  - $31 million in carry forward, available for general use.  
  - $15 million for OED and IEO.
- Distribution:
  - Of the $31 million for general use, $22 million was distributed upfront to departments and an additional $7 million during the year.  
- Financing priority areas included modernization initiatives, fragile states engagement, and other priority policy and analytical initiatives.

### CAPITAL SPENDING (FY 20) — DETAILS
- Total capital investments: $107 million in FY 20, a reduction of $34 million from last year.  
- Approximately $88 million in remaining appropriated funds will carry over to FY 21.  
- IT Capital Spending (total IT capital expenditure: $42.2 million):
  - 76 percent ($32.1 million) supported implementation of modernization projects.  
  - 1HR activities expenditures: almost $18 million.  
  - CDMAP project spending: $3.3 million.  
  - iData initiative spending: $0.8 million.  
  - iDW project spending: $2.6 million.  
  - Knowledge Management expenditures: $2.5 million.  
  - Other New Investments in IT: $5.2 million (including $2.7 million on IT security improvements and BCC cloud migration progress).  
  - IT lifecycle replacements: $4.9 million.  
  - $26 million in appropriated but unspent IT funds will be carried over to FY 21.
- Facilities Capital Spending (total: $41.8 million):
  - Lifecycle replacements and repairs: $33.7 million.  
  - Vehicles: Full appropriation of $1.2 million was utilized to purchase 18 new vehicles for Fund offices overseas.  
  - About $45 million in remaining appropriated funds will be carried over to FY 21.
- HQ1 Renewal:
  - Substantially completed in September 2019.  
  - Total expenditures through end of FY 20: $546.8 million.  
  - Approximately $2-3 million of the remaining $16 million budget estimated needed for final project closeout activities in FY 21.

### ANNEX I — CAPACITY DEVELOPMENT (CD) KEY FINDINGS (FY 16–20)
- Overall CD spending:
  - Spending was about $34 million (10 percent) below budget and $11 million (3½ percent) below FY 19.  
  - Fund-financed CD broadly in line with notional budget; externally financed CD 16 percent below budget and 6 percent below FY 19.
- Delivery adaptations:
  - Continued delivery focusing on follow-up recommendations, desk reviews, HQ data work, and on-demand crisis-related advice.  
  - Training and workshops pivoted to online; ramp-up of online learning program.  
  - Rapid transition to virtual delivery provided learning opportunities.
- Regional and income distribution:
  - All regions except APD saw declines in year-on-year nominal CD spending.  
  - APD share grew from 23 percent in FY 19 to 25 percent in FY 20.  
  - AFR witnessed the most substantial drop in delivery in absolute terms.  
  - Low-income developing countries saw the largest reduction in CD delivery when delivery shifted to remote in final months.
- CD by department (FY 20 Outturn, Millions):
  - Total CD: 305  
  - FAD: 113 (37 percent)  
  - ICD: 40  
  - MCM: 49  
  - STA: 38  
  - LEG: 11  
  - Other: 35  
  - ICD-governance/donors: 19  
  - Unallocated: 6

### DELIVERY TO TOPICAL GROWTH AREAS AND WORKSTREAMS
- Overall:
  - Delivery grew in anti-corruption and tax policy related CD despite COVID-19 disruptions.  
  - Delivery to Fragile States and Highly-Vulnerable countries fell in nominal terms.
- Selected workstream changes (percent and p.p. changes reported in source):
  - Revenue Administration: FY 19 Outturn 20.4; FY 20 Outturn 20.3; Growth Rate -7.7  
  - Macroeconomic Frameworks: FY 19 Outturn 13.8; FY 20 Outturn 15.6; Growth Rate 5.3  
  - Tax Policy: FY 19 Outturn 3.3; FY 20 Outturn 4.1; Growth Rate 15.3  
  - Anti-corruption (topic growth area): FY 19 Outturn 1.1; FY 20 Outturn 2.0; Growth Rate 68.1

### TRAINING PARTICIPATION AND DELIVERY MODALITIES
- Training as share of CD delivery:
  - Total Direct Delivery on Training: FY 19 Outturn 14.2; FY 20 Outturn 13.4.
- Total Training Participation (number of participants):
  - FY 16: 14,468; FY 17: 13,825; FY 18: 16,597; FY 19: 16,993; FY 20: 15,542.
- Departmental highlights (FY 20 participants):
  - FAD: 2,933; ICD: 6,440; LEG: 501; MCM: 1,606; STA: 3,894.  
- Online learning:
  - Total participation in online learning grew dramatically in FY 20.  
  - Training for officials under online learning: 38 percent of total IMF training in FY 20, up from 26 percent in FY 19.  
  - Online learning in Asia Pacific grew by 150 percent.

### SOURCES OF EXTERNAL FUNDING FOR CD
- Top donors (Contributions in Millions | Share Percent):
  - European Commission: 132 | 19  
  - Japan: 97 | 14  
  - China: 51 | 7  
  - Germany: 48 | 7  
  - Switzerland: 43 | 6  
  - United Kingdom: 41 | 6  
  - Total contributions over FY18–20: 702 | 100
- Funding vehicles (FY 18–20, Millions | Percent):
  - Multi-partner: 496 | 71  
  - Thematic Trust Funds (TTFs): 143 | 29  
  - Regional Technical Assistance Centers (RTACs): 286 | 58  
  - Regional Training Centers (RTCs): 67 | 13
- Key characteristics and risks:
  - Contributions concentrated among top partners; recipient members’ contributions to RTACs increased to 30 percent.  
  - Risks from COVID-19 to funding sustainability; recommended strategies include diversification, flexibility, and operational risk mitigation.

*Prepared by the Office of Budget and Planning (OBP); Executive summary dated July 30, 2020.*

### EXECUTIVE SUMMARY

### EXECUTIVE SUMMARY

### FY2020 HIGHLIGHTS
- Spending was 99.3 percent of the $1.158 billion total net administrative budget.  
- $1.150 bn Total net administrative expenditures.  
- 68 countries with IMF facilities and instruments (this includes 41 countries for which emergency financing was approved in the last two months of FY 20).  
- $2.1 mn Average spending per country on bilateral surveillance, lending, and capacity development.  
- $55.2 mn Carry forward available for FY 21 to meet transitional needs; some $45 million for general use and the remainder for the Offices of the Executive Directors (OED) and the Independent Evaluation Office (IEO).  
- 84 percent utilization of available externally financed budget; reflecting in part the immediate crisis impact on travel late in the year.  
- $168 mn Externally financed spending.  
- $107 mn Capital spending.  
  - About 20 percent of capital spending went to completion of the HQ1 renewal, with the remainder equally split between facilities and IT-supported projects.

### OVERVIEW: FY2020 OUTTURN AND CARRY FORWARD
- Total net administrative expenditures were $1,150 million, or 99.3 percent of the approved structural budget of $1,158 million.  
- Relative to total net available resources (which included $31 million in carry forward for general use and $15 million for OED and IEO from FY 19), the utilization rate was 95.4 percent.  
- Utilization of the net Fund-financed budget was 99.3 percent, with the underrun reflecting the impact of the COVID-19 related crisis, including on travel expenditures.  
- Given Board approval in April of an increase in the Fund’s general administrative carry forward limit from 3 to 5 percent, $45 million in carry forward resources will be available for general use under the FY 21 budget.  
- The total FY 21 carry forward of $55.2 million is made up of $44.5 million for general use (including $4.9 million transferred from the OED carry forward), an additional $10.2 million for OED, and $0.5 million for IEO. The total carry-forward limit is $69.4 million, of which $53.8 million is for general use.

### SPENDING BY OUTPUTS — CRISIS IMPACT AND RESOURCE REALLOCATION
- The immediate impact of the COVID-19 crisis late in the fiscal year drove an unprecedented increase in emergency financing requests:
  - Within two months at end FY 20, the Board approved 41 emergency financing cases across all regions.  
  - Over 100 members approached the Fund about possible emergency financing (continuing into FY 21).
- Staff activity and overtime:
  - Total recorded staff time on main outputs increased by 10 percent in FY 20 Q4 relative to FY 19 Q4.  
  - Recorded overtime hours increased by 40 percent in FY 20 Q4.  
  - Lending and non-country work together increased by over 30 percent in FY 20 Q4 relative to FY 19 Q4.
- With unchanged total staff resources, immediate crisis response needs were met primarily through:
  - Reprioritization and informal reallocations.
  - Staff overtime and untaken leave.
  - Reallocation from Article IVs, FSAPs and CD to support increased lending (Article IVs, FSAPs and CD declined a combined 8 percent during the period).
  - Streamlining of operational procedures and temporary reassignment of staff from functional CD departments to area departments, Finance (FIN), and Strategy, Policy and Review Departments (SPR).
- Implication: adjustments were necessary but point to limits and increased workload going forward.

### SPENDING BY THEMATIC CATEGORY (FUND-FINANCED)
- Overall country operations (bilateral surveillance, lending, and CD) were below the Fund-financed budget by some $19 million, largely reflecting travel.  
- Lending spending was higher-than-expected by $4 million, offset by lower-than-projected spending on bilateral surveillance and CD.  
- Analytical work was below budget by $4 million, despite some increase late in the year.  
- Other expenditures (multilateral surveillance, global cooperation, Fund policies, Fund finances) were broadly as planned.  
- Governance and membership related work was below budget, partly due to the virtual Spring Meetings.

Table excerpt (presented as reported in the source):
- Total gross expenditures: Budget 1,397; Outturn 1,350; Utilization (percent) 96.6 (FY20).  
- Fund-financed: Budget 1,197; Outturn 1,182; Utilization (percent) 98.7 (FY20).  
- Externally financed: Budget 200; Outturn 168; Utilization (percent) 84.0 (FY20).  
- Total net expenditures: Budget 1,158; Outturn 1,150; Utilization (percent) 99.3 (FY20).  
- Total net available resources: Budget 1,205; Outturn 1,150; Utilization (percent) 95.4 (FY20).

### SPENDING ON FY20 PRIORITY TOPICS (NON-CD ESTIMATES)
- Financial surveillance:
  - Total spending ~ $77 million in FY 20, or 15 percent of bilateral and multilateral surveillance.  
  - Non-CD spending on fintech and cyber risk reached $6 million in FY 20.
- Fragile states:
  - Aggregate non-CD spending on fragile states estimated at $64 million in FY 20.  
  - Fragile states received $1.2 million in additional budgetary non-CD resources in FY 20.  
  - CD delivery in fragile states declined to $36 million in FY 20.
- Anti-corruption/governance:
  - Represented 13 percent of bilateral surveillance and lending; estimated non-CD spending $43 million (Country teams $37 million; Other $6 million).
  - CD delivery on anti-corruption issues grew by almost 70 percent from a relatively low base (Annex I, Table 4).
- Inclusive growth: Estimated non-CD spending $28 million.
- Social spending: Estimated non-CD spending $25 million.
- Climate change: Estimated spending $16 million in FY 20 (Country teams $14 million; Other $2 million).
- Gender: Estimated non-CD spending $9 million (Country teams $8 million; Other $1 million).
- Fintech/cyber risk: Estimated non-CD spending $6 million (Country teams $5 million; Other $1 million).
- International taxation: Estimated non-CD spending $4 million.
- Debt: Policy and analytical work estimated at $8 million (debt-related items in the Board’s Work Program discussed in FY 20).

Notes on methodology:
- Column 1 in Table 3 is based on a survey of country teams undertaken in June 2020 and time recorded for direct country support by functional departments. Column 2 covers Board Work Program items (with exceptions noted in source footnotes).

### SPENDING RELATIVE TO FY19 — KEY CHANGES
- Within country operations:
  - Lending activity rose by $17.9 million in FY 20.  
  - Bilateral surveillance declined by $15.9 million.  
  - FSAPs declined by $4.5 million (a 20 percent decline), with 9 FSAPs completed in FY 20 vs. 12 in FY 19.  
  - Total country operations declined by $30.4 million (about half reflecting changes in country status as countries moved from surveillance to program engagement and suspension of FSAPs and Article IV consultations late in the year).  
  - CD: Fund and externally financed CD fell by about $23.5 million, reflecting travel restrictions and delivery constraints; some CD resources diverted to analytical work (e.g., COVID-19 notes).
- Non-financial programs spending declined by $4.3 million, partly reflecting movement into programs (e.g., Haiti, Somalia) and some program augmentations late in the year (e.g., Madagascar, Pakistan).

### CAPITAL AND EXTERNALLY FINANCED SPENDING (SUMMARY)
- Gross externally financed expenditures were $168 million, about $32 million (16 percent) below the $200 million budgeted level and $10 million (6 percent) below last year. The underspend reflects travel restrictions and capacity constraints in recipient countries, particularly in Q4.
- Capital spending totaled $107 million. About 20 percent of capital spending was for completion of the HQ1 renewal; the remainder was equally split between facilities and IT-supported projects.

*Prepared by the Office of Budget and Planning (OBP); Executive summary dated July 30, 2020.*

### 10.      The COVID-19 outbreak also contributed to reduced spending on governance and

### 10.      The COVID-19 outbreak also contributed to reduced spending on governance and internal support

### Impact on governance and internal support spending
- Governance and internal support declined by close to $19 million relative to FY 19.
- COVID-19 related reductions totaled $8 million, including reduced spending on:
  - the April 2020 Spring Meetings,
  - utilities,
  - settlement travel.
- Lower publication costs from moving toward digital products and a one-time reimbursement of legal fees also contributed to this reduction.

### Analytical work, Fund policies, and multilateral surveillance
- Spending on analytical and policy work increased, reflecting priority topics and crisis work.
- Analytical Work increased by $5½ million (6 percent), reflecting a ramp up in modeling and other macro-financial work in MCM, including on the Integrated Policy Framework and other MCM issues.
- Work on vulnerability and imbalances grew by $2.3 million (19 percent) within multilateral surveillance.
- Decline in work on statistical information/data (Global Cooperation category) reflects STA restructuring and temporary vacancies being filled gradually during FY 20 and FY 21.
- Net increase in spending on Fund policies was $0.5 million, reflecting:
  - reductions in policy work related to surveillance and CD,
  - increases in work related to lending (LIC and GRA) urgently adapted for COVID-19 (e.g., conditions for emergency financing, Catastrophe Containment and Relief Trust (CCRT), new Short-term Liquidity Line).

### Average spend per country and group variations
- Average country spending across the membership declined 7 percent relative to FY 19, to $2.1 million.
- The increment in average spend between surveillance and program status remains the same at $1-2 million (as noted in the Supplement to the FY 21-23 Medium-term Budget).
- Subgroup patterns:
  - Vulnerable countries: 5 percent increase in average spending, particularly in vulnerable program cases.
  - Small states: spending remained broadly stable at $1.2 million on average.
  - African region: average spending increased and remained higher than in all other regions because of high lending and CD spending; average spending in all other regions declined.
- Quarterly pattern: labor costs stayed stable in Q4 relative to Q3 and relative to the same period in FY 19; travel costs account for most of the decline in spending.

### Spending by inputs — Personnel
- Total spending (Fund- and externally financed) on personnel was $1,028 million, about $3 million above the total structural budget.
- Fund-financed personnel spending exceeded the structural budget by about $18 million, mainly reflecting hiring into approved transitional positions.
- One-off benefits to separating staff (related to reorganization of HR functions and ITD) and $1.6 million in costs related to lower-than-projected chargebacks due to crisis-related impact on externally funded CD activities contributed to personnel outcomes.
- Overall, externally financed personnel cost was about $15 million below budget.
- Personnel levels (FTEs) FY 18–20:
  - Total FY20: 3,912 (difference FY 19-20: 13)
  - Fund-financed FY20: 3,485 (difference FY 19-20: 32)
  - Externally financed FY20: 427 (difference FY 19-20: (19))
  - Regular and term Fund-financed FY20: 2,886
  - Expert and contractual Fund-financed FY20: 599
  - Regular and term externally financed FY20: 96
  - Expert and contractual externally financed FY20: 330

### Overtime and staff pressures
- Average Fund-wide overtime rates increased significantly in the last quarter of FY 20 due to COVID-19 work pressures.
- Overtime is particularly high for B-level staff; the average rate for B-level staff exceeded the 15 percent red-light threshold in most departments.
- Overtime rate examples (past 2 years, staff only, percent): charted values include peaks such as 14.2, 11.6, 10.8 across quarters (see figure detail).

### Travel, missions, and related underspends
- Underspend in Fund-financed travel was $21 million, mainly due to lower than planned business travel ($19 million).
- Causes: already lower travel volume before the crisis and impact of the travel ban effective mid-March; travel ban affected seminars, interview, and settlement travel.
- Evacuation expenses for about 150 staff, long-term experts and their dependents partially offset declines.
- Externally financed missions spending declined by about 23 percent relative to last year.
- In CD departments, externally financed travel expenses in the last two months of FY 20 were 60 percent lower than in the same period in FY 19.
- Number of missions fell by over 1,100 relative to FY 19.
- Area departments experienced the highest decline in missions, at around 18 percent; functional departments declined by 16 percent.
- Average mission length remained constant at 11.3 person days.
- Travel metrics (Number of missions, Mission nights, Mission persons) — FY 18 / FY 19 / FY 20:
  - Number of missions: 8,296 / 7,858 / 6,693
  - Mission nights: 91,255 / 88,985 / 75,761
  - Mission persons: 13,490 / 12,947 / 11,191
  - Regional breakdowns provided in source.

### Buildings, IT, contractual services, and other expenses
- Fund-financed spending on buildings and other services exceeded the structural budget by about $2 million.
- Outturn was higher than forecasted in April largely because of additional spending on remote working capabilities; contractual services, including virtual setups for interpretation; and lower than expected savings in building operations.
- Savings from the virtual Spring Meetings were $2.3 million as anticipated.
- Spending on contractual services plus subscriptions and printing, in aggregate, was in line with FY 19, reflecting a structural shift in accounting treatment of commercial data subscription.

### Budget and expenditure summary (selected table extracts)
- Net administrative budget: Budget $1,158; Outturn $1,150; Gap 8; Utilization 99.3 percent.
- Gross administrative budget: Budget $1,397; Outturn $1,350; Gap 48; Utilization 96.6 percent.
- Personnel: Budget $1,025; Outturn $1,028; Gap -3; Utilization 100.3 percent.
- Travel: Budget $134; Outturn $97; Gap 37; Utilization 72.3 percent.
- Buildings and other expenses: Budget $224; Outturn $225; Gap -1; Utilization 100.5 percent.
- Contingency: Budget $15; Outturn $0; Gap 15.
- Receipts: Budget -$239; Outturn -$199; Gap -40; Utilization 83.4 percent.
- Trust Fund management fees in FY 20 were about $2 million below budget, at $12 million (noted as affecting net budget).

*Source: Office of Budget and Planning, ACES.*

### 19.      Security-related spending was

### 19.      Security-related spending was

### Security-related spending (FY 18–20)
- Security-related spending was about $38 million, a slight increase over FY 19.
- Increase drivers:
  - IT security: mostly attributed to spending on infrastructure vulnerability and privileged access control management systems.
  - Business continuity: increase due to COVID-19 related demands.
  - Field security: despite higher evacuation costs (~$1.2 million), spending in this category remained stable.
  - HQ security: guard costs were only slightly lower than FY 19.
- Figure 11 categories and selected values (FY 18, FY 19, FY 20 outturn shown in chart):
  - HQ security: 16.0, 15.9, 15.8 (millions of FY 20 U.S. dollars)
  - IT security 1/: 9.3, 9.8, 10.4
  - Field security: 10.1, 10.2, 10.3
  - Business continuity: 1.1, 1.1, 1.3
- Note: Starting FY 19, recalibration of IT security categories.

### Receipts (FY18–20) and budget variance
- Total receipts were about $40 million below budget, a decrease of $15 million compared to FY 19.
- Selected receipt lines (Millions of U.S. dollars; FY 18, FY 19, FY 20 Budget, FY 20 Outturn as tabulated):
  - Total: 211, 214, 239, 199
  - Externally financed capacity development (direct cost only) 1/: 174, 178, 200, 168
  - General receipts: 37, 36, 39, 31
    - Administrative and trust fund management fees 2/: 12, 12, 14, 12
    - Publications income: 2, 1, 3, 0
    - Fund-sponsored sharing agreements 3/: 3, 3, 4, 3
    - HQ2 lease 4/: 5, 2, 1, 1
    - Concordia: 3, 3, 4, 3
- Explanatory points:
  - Receipts from externally financed capacity development ($168 million) were 6 percent lower than FY 19 and below the budgeted level (reasons explained in ¶15 of source).
  - General receipts ($31 million) were below FY 19 levels, mainly due to lower income from TFM fees as a result of lower externally financed CD and a decline in publication income, reflecting the Fund’s digitalization strategy and policy on free data—the FY 21 publication budget was rebased in line with this strategy.
  - Trust fund management fee of 7 percent under the new financing instrument.
  - HQ2 lease includes lease of space to the World Bank, Credit Union and retail tenants.
  - Fund-sponsored sharing agreements include reimbursements principally provided by the World Bank for administrative services provided under sharing agreements.
- Note: Figures may not add to totals due to rounding.
- Source: Office of Budget and Planning.
- Footnote: Externally financed receipts for FY 18 and FY 19 do not match actual outturn expenditures due to use of standard cost benefits for externally funded long-term field-based experts and timing differences for take up of benefits and their scale relative to standard costs. Reconciliation with actual expenditures is reflected in FY 20.

### Carry Forward (FY 20)
- Carry forward resources remained intact as use by some departments was offset by underspending by others.
- FY 20 budgeted carry forward:
  - $31 million in carry forward, available for general use.
  - $15 million for Offices of the Executive Directors (OED) and the Independent Evaluation Office (IEO).
- Distribution and use:
  - Of the $31 million for general use, $22 million was distributed upfront to departments to meet transitional needs, and an additional $7 million during the year to meet unanticipated demands.
  - Most departments had a lower-than-expected need, predominately because of mission cancellations.
- Financing for transitional needs was provided to priority areas:
  - Modernization initiatives (support departments): Comprehensive Compensation and Benefit Review (CCBR); 1HR; Digital Workplace; knowledge management; CDMAP and iData; and additional costs related to information security access control and infrastructure vulnerability management on systems for these projects.
  - Fragile states (most area departments): intensified country engagement.
  - Other priority areas (mainly functional departments): enhanced governance framework; international taxation; trade; digital economy; Sustainable Developmental Goals (SDG); bilateral financial surveillance; and various policy and analytical initiatives including macro-financial issues and a modeling unit in MCM (e.g. integrated policy framework), and a structural reform unit in RES.
- Figure 12 and Figure 13 summarize available resources and departmental spending (Millions of FY 20 U.S. dollars).
- Carry Forward components (as depicted in figures):
  - Carry Forward Distributed, 29
  - Carry Forward Undistributed, 3
  - Contingency--Staff, 9
  - Carry Forward--OED,IEO, 15
  - Contingency--OED, IEO, 5
  - Available Flexibility (Working Budget vs Outturn shown across departments)

### Capital Spending (FY 20)
- Total capital investments: $107 million in FY 20, a reduction of $34 million from last year (Table 8).
- Approximately $88 million in remaining appropriated funds will carry over to FY 21.
- FY 20 highlights:
  - Substantial completion of the HQ1 renewal project.
  - Investments to reoccupy HQ buildings with updated furnishing and equipment.
  - Progression of the IT modernization program.
- Utilization of capital budgets:
  - IT utilization broadly in line with pre-COVID-19 projections: 62 percent utilization.
  - Facilities utilization: 47 percent.
  - Minor repurposing of IT budget to enhance security for the Business Continuity Center (BCC).
- IT Capital Spending (total IT capital expenditure: $42.2 million):
  - 76 percent ($32.1 million) supported implementation of modernization projects.
  - 1HR activities expenditures: almost $18 million.
    - Initial release to replace HR inquiries system deployed in February; Release 1 expected completed in late October/Early November 2020 (versus April 2020 originally).
    - Release 2, which will incorporate CCBR reforms, payroll and complex benefits, shifted from October 2020 to the fourth quarter of FY 21.
  - CDMAP project spending: $3.3 million; completed product acquisition and multiple design milestones; on target for two releases in FY 21 (planned for August and February).
  - iData initiative spending: $0.8 million for scoping and requirements gathering; CBA presented to the Board in late July 2020.
  - iDW project spending: $2.6 million on product evaluation and initial designs; CBA expected mid FY 21.
  - Knowledge Management expenditures: $2.5 million leading to selection of new document management platform, information architecture design with iDW, initial country pages, auto-tagging tool, and Enterprise Search launched in May 2020.
  - Other New Investments in IT: $5.2 million (including $2.7 million on IT security improvements and BCC cloud migration progress).
  - IT lifecycle replacements: $4.9 million (network infrastructure equipment, servers and storage $3.7 million; Mac fleet refresh).
  - $26 million in appropriated but unspent IT funds will be carried over to FY 21, primarily for modernization and information security projects (BCC cloud migration and privileged access management).
- Facilities Capital Spending (total: $41.8 million):
  - Lifecycle replacements and repairs: $33.7 million (majority of facilities capital spending).
  - FY 20 expenditures approximately $13 million higher, in nominal terms, than the previous year due mainly to office furniture refresh and tenant renovations for move from swing to permanent spaces at end of HQ1 renewal.
  - New Investments: enhancements to HQ1 Atrium and audio-visual infrastructure for boardroom, Executive Directors and management spaces.
  - Other projects: HQ1 window blast film replacement for improved physical security; audio-visual replacements and related construction work.
  - Vehicles: Starting in FY 20, Board approved funding vehicle purchases from capital budget. Full appropriation of $1.2 million was utilized to purchase 18 new vehicles for Fund offices overseas, including a small number armored for security needs.
  - Lapsed appropriations: about $1.8 million in FY 18 appropriated funds lapsed at year-end for delayed projects (of which $0.6 million due to HQ shutdown and supply chain issues driven by COVID-19).
  - About $45 million in remaining appropriated funds will be carried over to FY 21 (audio-visual lifecycle replacements and improvements, HQ1 Atrium enhancements, final phase of furniture refresh, unused contingency and seed fund balances).
- HQ1 Renewal:
  - Substantially completed in September 2019.
  - Total expenditures through end of FY 20: $546.8 million.
  - Approximately $2-3 million of the remaining $16 million budget estimated needed for final project closeout activities in FY 21.
- Capital funds accounting (Millions of U.S. dollars; Table 8 summary):
  - Total funds available in FY 20 (including unspent FY 18 and FY 19 funding + FY 20 Budget Appropriations) shown as 196 (Total), with allocations among Facilities and IT.
  - Expenditures FY 20: 107 (Total).
  - Carry over into FY 21: 88 (Total).
  - Memorandum: Expenditures FY 19: 141 (Total).
- Note: The Fund’s capital budget guidelines allow funds to be utilized over a three-year period. For HQ1 Renewal, funding is available until April 2025.

### Annex I. Capacity Development (CD) — key findings (FY 16–20)
- Overall spending on CD activities:
  - Spending was about $34 million (10 percent) below budget and $11 million (3½ percent) below FY 19.
  - Fund-financed CD was broadly in line with notional budget levels, with externally financed CD 16 percent below budget (and 6 percent below FY 19).
  - The underspend reflects factors including COVID-19 related impact on delivery in the final two months of the period.
  - Lower-than-planned externally financed CD resulted in:
    - $1.6 million in lost HQ-based experts chargebacks (albeit offset by charges for regular staff).
    - $2 million shortfall in Trust Fund Management Fees (see Box 2 in main text).
  - CD remains around a third of the Fund’s output, but its share saw a decline of 1.5 percent against other Fund outputs.
- Delivery adaptations and outputs:
  - Continued delivery to a wide range of member countries focusing on follow-up recommendations, desk reviews, HQ data work, and on-demand advice on technical crisis-related issues.
  - Production of special series of COVID-19 notes.
  - Training and workshops pivoted to online; ramp-up of Fund’s online learning program including new online products.
  - Rapid transition to virtual delivery provided opportunity to learn and improve toolkit and operating model.
- CD Distribution (FY 19–20):
  - All regions except APD saw declines in year-on-year nominal CD spending.
  - Europe (EUR) saw the most substantial decline: reduction of 14 percent.
  - APD share grew from 23 percent in FY 19 to 25 percent in FY 20.
  - AFR witnessed the most substantial drop in delivery in absolute terms (largest recipient of Fund CD and faced absorptive capacity constraints due to COVID-19).
  - Low-income developing countries saw the largest reduction in CD delivery when delivery shifted to remote in final months of year.
  - Decline in CD delivery to multiple regions reflects decline in multi-regional training courses.
- Direct Delivery by Region and Income Group (selected percent shares and changes; Table 1):
  - Total Direct Delivery: FY 19 Outturn 100.0; FY 20 Outturn 100.0; Nominal change to FY19: -7.1
  - Sub-saharan Africa: FY 19 Outturn 37.5; FY 20 Outturn 38.2; FY 20 change in share (p.p.): 0.7; To FY19 growth rate: -5.5
  - Asia and Pacific: 22.2; 24.8; 2.6; 3.7
  - Europe: 9.6; 8.9; -0.7; -14.2
  - Middle East and Central Asia: 12.5; 12.2; -0.4; -9.8
  - Western Hemisphere: 12.6; 13.2; 0.5; -3.2
  - Multiple regions: 5.3; 2.9; -2.5; -50.1
  - Income groups:
    - Advanced economies: FY 19 Outturn 3.3; FY 20 Outturn 3.3; To FY19 growth rate: -6.9
    - Emerging market and middle-income economies: 44.3; 45.1; To FY19 growth rate: -5.3
    - Low-income developing countries: 52.4; 51.8; To FY19 growth rate: -8.3
  - Note: CD spending to regional groups has been distributed evenly among member countries of each group.
  - Source: Staff estimates as of May 2020.
- CD by Department (Table 2, Millions of U.S. dollars; FY 16–20 series and FY 20 Outturn):
  - Total CD (FY 20 Outturn): 305
  - Fiscal Affairs Department (FAD): FY 20 Outturn 113 (37 percent of FY 20 expenditure)
  - Institute for Capacity Development (ICD): 40
  - Monetary and Capital Markets (MCM): 49
  - Statistics Department (STA): 38
  - Legal Department (LEG): 11
  - Other 1/: 35
  - ICD-governance/donors: 19
  - Unallocated: 6 (budget item)
  - Note: FAD delivery was broadly stable in nominal terms; MCM and LEG saw year-on-year declines of 11 percent.
- Workstreams (Table 3):
  - Spending fell across most workstreams with heterogeneity in shortfalls.
  - Core workstreams continue to make up bulk of CD delivery.
  - More substantial drop in MCM workstreams.
  - Tax policy and macroeconomic frameworks saw significant increases both year-on-year and against budget expectations.

*Source: FY2020 OUTPUT COST ESTIMATES AND BUDGET OUTTURN (International Monetary Fund), Office of Budget and Planning and departmental submissions.*

### 8.      The share of delivery to topical growth areas grew from FY 19 (Table 4). FY 19 was the

### 8.      The share of delivery to topical growth areas grew from FY 19 (Table 4). FY 19 was the

### Delivery to Topical Growth Areas and Workstreams
- Context:
  - FY 19 was the baseline year for the new prioritization framework.
  - Delivery grew in spite of the issues caused by COVID-19.
  - Overall growth driven primarily by substantially increased share in delivery of anti-corruption and tax policy related CD.
  - Delivery to Fragile States and Highly-Vulnerable countries fell in nominal terms reflecting absorptive capacity issues and remote delivery constraints.
  - Decline in delivery to CCAM countries reflects closing of externally-financed projects; delivery share expected to pick up as the new CCAMTAC starts operations.

- Total Direct Delivery (percent shares):
  - FY 19 Outturn: 100.0
  - FY 20 Budget: 100.0
  - FY 20 Outturn: 100.0
  - Nominal Growth Rate: -7.1

- Total Direct Delivery on Top Eight Workstreams:
  - FY 19 Outturn: 93.3
  - FY 20 Budget: 94.3
  - FY 20 Outturn: 94.4
  - Change to FY19: 1.1 (p.p.)
  - Change to Budget: 0.1 (p.p.)
  - Growth Rate: -6.0

- Selected workstreams (FY 19 Outturn | FY 20 Budget | FY 20 Outturn | Change to FY19 | Change to Budget | Growth Rate):
  - Revenue Administration: 20.4 | 19.9 | 20.3 | -0.1 | 0.4 | -7.7
  - Public Financial Management and Expenditure Policy: 18.8 | 19.0 | 19.7 | 0.9 | 0.7 | -2.8
  - Macroeconomic Frameworks: 13.8 | 14.1 | 15.6 | 1.8 | 1.5 | 5.3
  - Macroeconomic Statistics: 15.0 | 14.9 | 14.8 | -0.2 | -0.1 | -8.1
  - Financial Sector Stability: 11.6 | 12.5 | 10.9 | -0.6 | -1.5 | -12.2
  - Central Bank Operations and Market Development: 6.2 | 6.3 | 5.2 | -1.0 | -1.1 | -22.3
  - Tax Policy: 3.3 | 3.7 | 4.1 | 0.8 | 0.5 | 15.3
  - Financial Integrity and Financial/Fiscal Law Reform: 4.2 | 3.9 | 3.7 | -0.4 | -0.2 | -17.1
  - Other workstreams: 6.5 | 5.7 | 5.6 | -0.9 | -0.2 | -20.2

- Total Direct Delivery on Topic Growth Areas:
  - FY 19 Outturn: 7.8
  - FY 20 Budget: 9.4
  - FY 20 Outturn: 9.4
  - Nominal Change to FY19: 12.4 (implied growth rate)

- Topic Growth Areas, identified workstreams within (FY 19 Outturn | FY 20 Budget | FY 20 Outturn | Change to FY19 | Change to Budget | Growth Rate):
  - Anti-corruption: 1.1 | 1.8 | 2.0 | 0.9 | 0.2 | 68.1
  - Debt sustainability and debt statistics: 1.1 | 1.5 | 0.8 | -0.3 | -0.7 | -34.2
  - Expenditure policy and public investment management: 2.1 | 2.2 | 1.8 | -0.4 | -0.5 | -22.8
  - Tax policy: 2.6 | 3.3 | 3.9 | 1.3 | 0.5 | 38.1
  - Fintech and cyber risks: 0.8 | 0.5 | 0.8 | -0.1 | 0.3 | -14.5
  - Climate change: 0.0 | 0.0 | 0.2 | 0.2 | ... 

- Country Group Growth Areas (FY 19 Outturn | FY 20 Budget | FY 20 Outturn | Change to FY19 | Change to Budget | Growth Rate):
  - Highly-vulnerable countries: 50.7 | 17.7 | 50.5 | -0.1 | 32.9 | -7.4
  - Fragile states: 29.3 | 23.9 | 27.1 | -2.3 | 3.2 | -14.3
  - Caucasus, Central Asia, and Mongolia (CCAM): 6.7 | 4.9 | 6.5 | -0.2 | 1.6 | -10.2

- Source: Staff estimates as of May 2020.

### Training Participation and Delivery Modalities
- Overall outcomes:
  - Training fell as a share of overall CD delivery in both year-on-year terms and against budget expectations.
  - Driven by Q4 suspension of face-to-face training due to COVID-19; large increase in online delivery did not materially increase costs because of low delivery cost of this modality.
  - Participation in IMF training fell by around 9 percent in FY 20 notwithstanding a substantial increase in online training.
  - ICD remains the largest provider of training, followed by STA and FAD.

- Total Direct Delivery on Training (percent shares):
  - FY 19 Outturn: 14.2
  - FY 20 Budget: 13.7
  - FY 20 Outturn: 13.4

- Direct Delivery on Training by department (FY 19 Outturn | FY 20 Budget | FY 20 Outturn | Change to FY19 | Change to Budget | Growth Rate):
  - Fiscal Affairs Department: 1.0 | 1.0 | 1.2 | 0.2 | 0.2 | 8.6
  - Institute for Capacity Development: 9.4 | 8.3 | 8.6 | -0.8 | 0.3 | -15.3
  - Legal Department: 0.3 | 0.3 | 0.3 | 0.0 | -0.1 | -5.1
  - Monetary and Capital Markets: 0.8 | 0.8 | 0.6 | -0.2 | -0.2 | -30.1
  - Statistics Department: 1.6 | 1.9 | 1.8 | 0.2 | 0.0 | 4.7
  - Other CD delivery departments (including area departments and other functional departments reporting CD-related activities): 1.0 | 1.5 | 0.9 | -0.2 | -0.6 | -22.3

- Total Training Participation (number of participants by year):
  - FY 16: 14,468
  - FY 17: 13,825
  - FY 18: 16,597
  - FY 19: 16,993
  - FY 20: 15,542

- Training participation by department (number of participants, FY 16 to FY 20 highlights):
  - Fiscal Affairs Department: FY 16 2,263; FY 17 2,410; FY 18 3,183; FY 19 3,353; FY 20 2,933
  - Institute for Capacity Development: FY 16 7,381; FY 17 7,272; FY 18 8,852; FY 19 8,461; FY 20 6,440
  - Legal Department: FY 16 625; FY 17 546; FY 18 489; FY 19 384; FY 20 501
  - Monetary and Capital Markets: FY 16 1,492; FY 17 1,220; FY 18 1,369; FY 19 1,657; FY 20 1,606
  - Statistics Department: FY 16 2,230; FY 17 2,202; FY 18 2,465; FY 19 3,003; FY 20 3,894
  - Other including RTACs: FY 16 477; FY 17 175; FY 18 239; FY 19 135; FY 20 168

- Regional participation (number of participants by region, FY 16 to FY 20 highlights):
  - Sub-saharan Africa: FY 16 3,996; FY 20 4,060
  - Asia and Pacific: FY 16 2,882; FY 20 4,440
  - Europe: FY 16 2,077; FY 20 1,548
  - Middle East and Central Asia: FY 16 2,552; FY 20 2,966
  - Western Hemisphere: FY 16 2,961; FY 20 2,528

- Regional Training Centers (RTCs):
  - Participation at RTCs decreased by 19 percent compared to FY 19.
  - SARTTAC remains the largest training center with 1,331 participants in FY 20.
  - Decrease observed across nearly all regions and centers; second consecutive year of decline in RTC participation.

- Online learning:
  - Total participation in online learning grew dramatically in FY 20.
  - Substantial shift toward government official participants.
  - Completion rate for government officials declined to around a quarter of those who initially enroll.
  - Training for officials under online learning: 38 percent of total IMF training in FY 20, up from 26 percent in FY 19.
  - Online learning in Asia Pacific grew by 150 percent.

- Participation by income group and country group trends:
  - Training participation fell in all regions except Asia Pacific.
  - Asia Pacific represents the largest share of training participants for the first time, closely followed by Africa.
  - Participation fell amongst EMEs and LIDCs; EMEs continue to receive the largest share of training at a little over 53 percent, followed by LIDCs at almost 39 percent.
  - Upward trends in participation from fragile states and program countries discontinued in FY 20; both groups experienced relatively larger decreases in shares.
  - Share of participation from highly vulnerable countries and small developing states remained broadly flat.

### Sources of External Funding for CD
- Top-line funding concentration:
  - Over the last three years, the top 25 partners contributed 93 percent of the total external funding for CD.

- Top donor contributions (Contributions in Millions of U.S. dollars | Share (Percent of total)):
  - European Commission: 132 | 19
  - Japan: 97 | 14
  - China: 51 | 7
  - Germany: 48 | 7
  - Switzerland: 43 | 6
  - United Kingdom: 41 | 6
  - Kuwait: 32 | 5
  - The Netherlands: 30 | 4
  - Canada: 28 | 4
  - India: 18 | 3
  - Austria: 16 | 2
  - Norway: 16 | 2
  - Australia: 15 | 2
  - Korea: 14 | 2
  - Luxembourg: 13 | 2
  - New Zealand: 8 | 1
  - Sweden: 8 | 1
  - Singapore: 8 | 1
  - Denmark: 7 | 1
  - France: 7 | 1
  - Belgium: 5 | 1
  - Ghana: 5 | 1
  - Caribbean Development Bank: 4 | 1
  - European Investment Bank: 4 | 1
  - Italy: 4 | 1
  - Other donors and institutions: 48 | (of which: private foundations 10)
  - Total: 702 | 100
  - Contributions received during FY18–20. (Source: Capacity Development Information Management System (CDIMS).)

- Capacity development vehicles and shares (FY 18–20 funding, Millions of U.S. dollars | Percent of total):
  - Multi-partner: 496 | 71
  - Thematic (and country) Trust Funds (TTFs): 143 | 29
  - Regional Technical Assistance Centers (RTACs): 286 | 58
  - Regional Training Centers (RTCs): 67 | 13
  - Bilateral: 20 | 29
  - Total funds received during FY 18–20: 702 | 100

- RTACs and TTFs: partner and member contributions to current phase (Signed contributions and pledges for current cycle as of April 30, 2020):
  - Top 3 donors: 167 | 37 | 105 | 42 (presentation format in source)
  - Other (other donors and international institutions): 150 | 33 | 145 | 58
  - Members (RTAC recipients): 138 | 30
  - Total: 454 | 100 | 249 | 100

- Key characteristics of external funding:
  - Partner contributions are made to multi-partner vehicles—including regional CD centers, thematic and country funds, and bilateral programs.
  - Host countries manage a few regional training programs where Fund staff provide training.
  - Contributions to multi-partner vehicles remain relatively concentrated; a few large partners for RTACs and thematic funds account for a significant share of the total contribution in each group of vehicles.
  - Recipient members’ contributions to RTACs increased to 30 percent, strengthening financial sustainability, but COVID-19 impacts on member country budgets raise funding risks.

- Risks and management strategies highlighted by COVID-19:
  - Diversification: pursue broader and more sustained partnerships to reduce dependence on large contributors and provide greater funding certainty over the medium term.
  - Flexibility: promote multi-partner and umbrella agreements to allocate funding across a range of CD activities; example cited of a new multi-partner initiative launched to address urgent CD needs related to the pandemic.
  - Operational risk mitigation: (a) secure financing upfront before carrying out CD delivery; (b) flexibly adjust components of work programs if funding falls short; (c) mitigate risks associated with high donor dependency.
  - All CD projects or programs have built-in degrees of flexibility to allow adjustments.

*Source: Excerpts and staff estimates as presented in the provided content (staff estimates as of May 2020).*

### Annex II. Statistical Tables

### Annex II. Statistical Tables

### Table 1. Gross Fund- and Externally Financed Spending Estimates by Output, FY 16–20
- Total (Millions of FY 20 U.S. dollars): FY 16 = 1,337; FY 17 = 1,355; FY 18 = 1,374; FY 19 = 1,381; FY 20 = 1,350.
- Percent of total by output (selected items shown with FY 16–FY 20 values):
  - Multilateral surveillance (Millions): 265, 262, 274, 261, 259 — Percent: 19.8, 19.3, 19.9, 18.9, 19.2.
  - Global economic analysis (Millions): 130, 129, 130, 124, 122 — Percent: 9.7, 9.5, 9.5, 9.0, 9.0.
    - WEO (Millions): 19, 18, 17, 16, 19 — Percent: 1.4, 1.3, 1.3, 1.1, 1.4.
    - GFSR (Millions): 16, 16, 17, 13, 14 — Percent: 1.2, 1.2, 1.2, 1.0, 1.0.
    - General research (Millions): 43, 39, 38, 39, 38 — Percent: 3.2, 2.9, 2.8, 2.9, 2.8.
    - General outreach (Millions): 52, 57, 57, 55, 51 — Percent: 3.9, 4.2, 4.2, 4.0, 3.8.
  - Tools to prevent and resolve systemic crises (Millions): 64, 68, 77, 70, 72 — Percent: 4.8, 5.0, 5.6, 5.1, 5.3.
  - Other cross cutting analysis (Millions): 42, 45, 49, 45, 43 — Percent: 3.2, 3.3, 3.6, 3.2, 3.2.
  - Oversight of global systems (Millions): 134, 139, 143, 150, 147 — Percent: 10.0, 10.2, 10.4, 10.9, 10.9.
    - Development of international financial architecture (Millions): 39, 43, 41, 47, 53 — Percent: 2.9, 3.2, 3.0, 3.4, 4.0.
    - Other work on monetary, financial, and capital markets issues (Millions): 32, 36, 34, 41, 47 — Percent: 2.4, 2.6, 2.5, 2.9, 3.5.
  - Data transparency (Millions): 38, 39, 42, 43, 36 — Percent: 2.8, 2.9, 3.0, 3.1, 2.7.
  - The role of the Fund (Millions): 57, 56, 60, 60, 58 — Percent: 4.3, 4.1, 4.3, 4.3, 4.3.
  - Bilateral surveillance (Millions): 320, 333, 336, 349, 313 — Percent: 23.9, 24.6, 24.4, 25.3, 23.2.
    - Assessment of economic policies and risks (Millions): 282, 283, 293, 302, 277 — Percent: 21.1, 20.9, 21.3, 21.9, 20.5.
    - Article IV consultations (Millions): 209, 210, 221, 230, 205 — Percent: 15.6, 15.5, 16.1, 16.7, 15.2.
  - Lending (incl. non-financial instruments) (Millions): 194, 179, 172, 182, 202 — Percent: 14.5, 13.2, 12.5, 13.2, 14.9.
    - Arrangements supported by Fund resources (Millions): 148, 146, 149, 137, 164 — Percent: 11.1, 10.8, 10.8, 9.9, 12.2.
    - Programs and precautionary arrangements supported by general resources (Millions): 84, 77, 72, 71, 92 — Percent: 6.3, 5.7, 5.3, 5.1, 6.8.
    - Programs supported by PRGT resources (Millions): 64, 70, 76, 66, 72 — Percent: 4.8, 5.1, 5.6, 4.8, 5.4.
  - Capacity development (Millions): 365, 372, 419, 412, 392 — Percent: 27.3, 27.5, 30.5, 29.8, 29.0.
    - Technical assistance (Millions): 305, 311, 352, 344, 329 — Percent: 22.8, 23.0, 25.6, 24.9, 24.4.
    - Training (Millions): 60, 61, 67, 68, 63 — Percent: 4.5, 4.5, 4.9, 4.9, 4.7.
  - Miscellaneous (Millions): 45, 49, 29, 27, 37 — Percent: 3.4, 3.6, 2.1, 2.0, 2.7.
  - Reconciliation item (Millions): 14, 21, 20, 0, 0 — Percent: 1.1, 1.5, 0.1, -, -.
- Notes:
  - Support and governance costs allocated across outputs in this table (difference from Table 2 in main text).
  - Miscellaneous includes payments to some separating staff and reconciliation items; this table also includes direct Support and Governance expenses.
  - Reconciliation to gross administrative expenditures as per the Fund's financial system.
  - Includes Post Program Monitoring, Policy Support Instruments, Staff Monitored Programs, Near Programs, Ex-Post Assessments, Multilateral Debt Relief Initiatives (MDRI-I and II), Heavily Indebted Poor Countries, Joint Staff Advisory Notes, Post Catastrophe Debt Relief, and Catastrophe Containment Relief Trust.

### Table 2. Total Administrative Expenditures: Budgets and Outturn, FY 11–20 (Net and Gross)
- A. Net Budget (Years 2011–2020, Amounts and differences presented in table):
  - 2011: Budget Amount = 953; Outturn Amount = 917; Difference = -36; Budget to Budget Percent = -3.8; Outturn to Outturn: 22 (2.3) and 54 (6.2) shown in table columns.
  - 2012: Budget Amount = 985; Outturn Amount = 947; Difference = -38; Budget to Budget Percent = -3.9; Outturn to Outturn: 32 (3.3) and 30 (3.2).
  - 2013: Budget Amount = 997; Outturn Amount = 948; Difference = -50; Budget to Budget Percent = -5.0; Outturn to Outturn: 13 (1.3) and 1 (0.1).
  - 2014: Budget Amount = 1,007; Outturn Amount = 988; Difference = -19; Budget to Budget Percent = -1.8; Outturn to Outturn: 9 (0.9) and 40 (4.3).
  - 2015: Budget Amount = 1,027; Outturn Amount = 1,010; Difference = -17; Budget to Budget Percent = -1.7; Outturn to Outturn: 20 (2.0) and 21 (2.2).
  - 2016: Budget Amount = 1,052; Outturn Amount = 1,038; Difference = -13; Budget to Budget Percent = -1.3; Outturn to Outturn: 25 (2.4) and 29 (2.8).
  - 2017: Budget Amount = 1,072; Outturn Amount = 1,066; Difference = -6; Budget to Budget Percent = -0.6; Outturn to Outturn: 21 (2.0) and 28 (2.7).
  - 2018: Budget Amount = 1,104; Outturn Amount = 1,099; Difference = -5; Budget to Budget Percent = -0.5; Outturn to Outturn: 31 (2.9) and 32 (3.0).
  - 2019: Budget Amount = 1,135; Outturn Amount = 1,131; Difference = -4; Budget to Budget Percent = -0.3; Outturn to Outturn: 32 (2.9) and 33 (3.0).
  - 2020: Budget Amount = 1,158; Outturn Amount = 1,150; Difference = -8; Budget to Budget Percent = -0.7; Outturn to Outturn: 23 (2.1) and 19 (1.7).
- B. Gross Budget (Years 2011–2020, Amounts and differences presented in table):
  - 2011: Budget Amount = 1,075; Outturn Amount = 1,021; Difference = -54; Budget to Budget Percent = -5.0; Outturn to Outturn: 43 (4.2) and 71 (7.4).
  - 2012: Budget Amount = 1,123; Outturn Amount = 1,082; Difference = -41; Budget to Budget Percent = -3.7; Outturn to Outturn: 48 (4.5) and 61 (6.0).
  - 2013: Budget Amount = 1,159; Outturn Amount = 1,102; Difference = -57; Budget to Budget Percent = -4.9; Outturn to Outturn: 35 (3.2) and 20 (1.8).
  - 2014: Budget Amount = 1,186; Outturn Amount = 1,149; Difference = -37; Budget to Budget Percent = -3.2; Outturn to Outturn: 27 (2.3) and 47 (4.3).
  - 2015: Budget Amount = 1,224; Outturn Amount = 1,177; Difference = -46; Budget to Budget Percent = -3.8; Outturn to Outturn: 38 (3.2) and 29 (2.5).
  - 2016: Budget Amount = 1,247; Outturn Amount = 1,215; Difference = -33; Budget to Budget Percent = -2.6; Outturn to Outturn: 24 (1.9) and 38 (3.2).
  - 2017: Budget Amount = 1,273; Outturn Amount = 1,255; Difference = -18; Budget to Budget Percent = -1.4; Outturn to Outturn: 25 (2.0) and 40 (3.3).
  - 2018: Budget Amount = 1,315; Outturn Amount = 1,309; Difference = -6; Budget to Budget Percent = -0.4; Outturn to Outturn: 42 (3.3) and 54 (4.3).
  - 2019: Budget Amount = 1,371; Outturn Amount = 1,346; Difference = -26; Budget to Budget Percent = -1.9; Outturn to Outturn: 56 (4.3) and 37 (2.8).
  - 2020: Budget Amount = 1,397; Outturn Amount = 1,350; Difference = -48; Budget to Budget Percent = -3.4; Outturn to Outturn: 26 (1.9) and 4 (0.3).
- Notes:
  - Figures may not add to total due to rounding.
  - Excludes carry forward funds from previous year of $34.4 million (FY 12), $40.6 million (FY 13), $41.9 million (FY 14), $41.7 million (FY 15), $42.5 million (FY 16), $43.2 million (FY 17), $44.3 million (FY 18), $45.6 million (FY 19), and $46.9 million (FY 20).
  - Includes one-off supplementary contributions to the Retired Staff Benefit Investment Account (RSBIA) of $27 million in FY 09, $30 million in FY 10; $45 million in FY 11; $30 million in FY 12; $12 million in FY 13; $8 million in FY 16; and $2 million in FY 17.
  - Includes contributions to the Staff Retirement Plan (SRP) service credit buy back program of $8 million in FY 05, $10 million in ...

### Table 3. Total Fund Employment Outturn, FY 17–20 (Full-time Equivalents, FTEs)
- Total Fund employment:
  - FY 17 = 3,762; FY 18 = 3,881; FY 19 = 3,899; FY 20 = 3,912.
- Regular and term staff:
  - FY 17 = 2,890; FY 18 = 2,923; FY 19 = 2,958; FY 20 = 2,982.
  - Fund-financed regular and term staff: FY 17 = 2,813; FY 18 = 2,836; FY 19 = 2,865; FY 20 = 2,886.
  - Externally financed regular and term staff: FY 17 = 77; FY 18 = 87; FY 19 = 93; FY 20 = 96.
- Expert and Contractual Staff 1/:
  - Total experts and contractuals: FY 17 = 872; FY 18 = 958; FY 19 = 941; FY 20 = 930.
  - Fund-financed experts and contractuals: FY 17 = 556; FY 18 = 586; FY 19 = 588; FY 20 = 599.
  - Externally financed experts and contractuals: FY 17 = 316; FY 18 = 372; FY 19 = 353; FY 20 = 330.
- Specific offices:
  - Independent Evaluation Office (IEO): FY 17 = 14; FY 18 = 15; FY 19 = 15; FY 20 = 15.
  - Office of Executive Directors (OED): FY 17 = 250; FY 18 = 247; FY 19 = 247; FY 20 = 247.
- Note 1/: Includes experts (including short-term), contractuals, visiting scholars, secretarial support, and other. Excludes local employees in the field.

### Table 4 & Table 5. Departmental Business and Seminar Travel Expenditures and Travel Metrics, FY 18–20
- Travel expenditures (Millions of U.S. dollars) by year:
  - FY 18 = 110; FY 19 = 116; FY 20 = 86.
  - By type of cost (FY 18, FY 19, FY 20): Transportation = 65, 68, 51; Per diem = 45, 48, 35.
  - By type of financing: Fund-financed = 65, 70, 50; Externally financed = 45, 46, 36.
  - By department: Area = 30, 29, 22; Functional CD = 63, 65, 50; Functional non-CD = 6, 6, 4; Support and Governance = 5, 9, 5; OED and IEO = 5, 7, 5.
  - Memorandum item: In percent of total gross expenditures = 8.4, 8.6, 6.4 (FY 18, FY 19, FY 20).
  - FY 19 includes Annual Meetings overall travel of approximately $5.4 million (memorandum in source).
- Travel metrics by department type (Number of missions and related metrics):
  - Number of missions: FY 18 = 8,296; FY 19 = 7,858; FY 20 = 6,693; Percent change FY 20 vs FY 19 = -15.
    - Area: 1,366; 1,445; 1,180; Percent change = -18.
    - Functional CD: 5,121; 4,979; 4,207; Percent change = -16.
    - Functional non-CD: 989; 788; 719; Percent change = -9.
    - Support and Governance: 820; 646; 587; Percent change = -9.
  - Mission nights: FY 18 = 91,255; FY 19 = 88,985; FY 20 = 75,761; Percent change FY 20 vs FY 19 = -15.
    - Area mission nights: 24,115; 24,778; 19,679; Percent change = -21.
    - Functional CD mission nights: 59,762; 57,497; 50,417; Percent change = -12.
    - Functional non-CD mission nights: 3,781; 3,714; 3,046; Percent change = -18.
    - Support and Governance mission nights: 3,597; 2,996; 2,619; Percent change = -13.
  - Mission persons: FY 18 = 13,490; FY 19 = 12,947; FY 20 = 11,191; Percent change FY 20 vs FY 19 = -14.
    - Area mission persons: 3,605; 3,806; 3,182; Percent change = -16.
    - Functional CD mission persons: 7,584; 7,259; 6,246; Percent change = -14.
    - Functional non-CD mission persons: 1,169; 938; 918; Percent change = -2.
    - Support and Governance mission persons: 1,132; 944; 845; Percent change = -10.
- Note 1/: Excludes Annual Meetings, IEO, OED.

### Table 6. Capital Expenditures, FY 13–20 (Millions of U.S. dollars)
- Capital categories tracked: Information Technology, HQ1 Renewal, HQ1 Renovation, Concordia, Total.
- FY 13:
  - New appropriations (1) = 7.4 (Information Technology), 34.3 (HQ1 Renewal), 0.0 (HQ1 Renovation), 347.0 (Concordia), 0.0 (?) — Total = 388.7.
  - Total funds available (2) = 21.1, 63.2, 0.1, 427.3, 31.6 — Total = 543.3.
  - Expenditures (3) = 7.4, 37.1, 0.0, 22.0, 22.3 — Total = 88.8.
  - Lapsed funds (4) = 1.4, 0.5, 0.0, 0.0, 0.0 — Total = 1.8.
  - Remaining funds (5) = 12.4, 25.6, 0.0, 405.3, 9.3 — Total = 452.6.
- FY 14:
  - New appropriations (6) = 17.4, 23.8, 0.0, 0.0, 0.0 — Total = 41.2.
  - Total funds available (7) = (5)+(6) = 29.8, 49.4, 0.0, 405.3, 9.3 — Total = 493.8.
  - Expenditures (8) = 10.1, 36.6, 0.0, 92.2, 4.8 — Total = 143.8.
  - Lapsed funds (9) = 0.5, 0.0, 0.0, 0.0, 3.9 — Total = 4.4.
  - Remaining funds (10) = 19.2, 12.8, 0.0, 313.1, 0.6 — Total = 345.7.
- FY 15:
  - New appropriations (11) = 22.0, 29.8, 0.0, 0.6, 3/ — Total = 52.4.
  - Total funds available (12) = (10)+(11) = 41.2, 42.6, 313.1, 0.6 — Total = 397.4.
  - Expenditures (13) = 10.5, 29.3, 95.7, 0.3 — Total = 135.8.
  - Lapsed funds (14) = 0.6, 0.3, 0.0, 0.3, 1.2 — Remaining funds (15) = 30.1, 12.9, 217.4, 0.0 — Total = 260.4.
- FY 16:
  - New appropriations (16) = 14.4, 27.7, 132.0, 4/ — Total = 174.1.
  - Total funds available (17) = (15)+(16) = 44.5, 40.6, 349.4 — Total = 434.5.
  - Expenditures (18) = 14.6, 25.8, 90.1 — Total = 130.5.
  - Lapsed funds (19) = 0.4, 0.1, 0.0, 0.6 — Remaining funds (20) = 29.4, 14.7, 259.2 — Total = 303.4.
- FY 17:
  - New appropriations (21) = 32.5, 28.0, 0.0 — Total = 60.5.
  - Total funds available (22) = (20)+(21) = 62.0, 42.7, 259.2 — Total = 363.9.
  - Expenditures (23) = 17.9, 27.9, 76.3 — Total = 122.1.
  - Lapsed funds (24) = 5.4, 0.2, 0.0 — Total = 5.6.
  - Remaining funds (25) = 38.7, 14.6, 182.9 — Total = 236.2.
- FY 18:
  - New appropriations (26) = 31.4, 35.0, 0.0 — Total = 66.4.
  - Total funds available (27) = (25)+(26) = 70.1, 49.6, 182.9 — Total = 302.6.
  - Expenditures (28) = 22.3, 31.4, 62.3 — Total = 116.0.
  - Lapsed funds (29) = 0.3, 0.0, 0.0 — Total = 0.3.
  - Remaining funds (30) = 47.4, 18.2, 120.6 — Total = 186.3.
- FY 19:
  - New appropriations (31) = 35.5, 35.9, 0.0 — Total = 71.4.
  - Total funds available (32) = (30)+(31) = 82.8, 54.1, 120.6 — Total = 257.5.
  - Expenditures (33) = 28.7, 30.9, 81.6 — Total = 141.2.
  - Lapsed funds (34) = 5.9, 0.0, 0.0 — Total = 5.9.
  - Remaining funds (35) = 48.1, 23.2, 39.0 — Total = 110.4.
- FY 20:
  - New appropriations (36) = 40.8, 45.0, 0.0 — Total = 85.8.
  - Total funds available (37) = (35)+(36) = 88.9, 68.2, 39.0 — Total = 196.2.
  - Expenditures (38) = 41.8, 42.2, 22.8 — Total = 106.8.
  - Lapsed funds (34) = 1.8, 0.0, 0.0 — Total = 1.8.
  - Remaining funds (39) = 45.4, 26.0, 16.2 — Total = 87.6.
- Notes:
  - Figures reflect funds that were not spent within the three-year appropriation period; e.g., FY 18 appropriated funds lapsed at the end of FY 20.
  - Figures reflect the unspent amount of the budget appropriation in the period concerned. Those funds can be used for authorized projects in the period covered by the appropriation.
  - Additional appropriations were approved for the HQ1 Renewal Program during FY 16.
  - Unspent Concordia funds appropriated in FY 12 expired at the end of FY 14 with the exception of $0.6 million that was specifically reappropriated for FY 15 to complete the remaining work under the project.

*Source: Office of Budget and Planning, Analytic Costing and Estimation System (ACES); Corporate Services and Facilities Department; Information Technology Department.*

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_Source: https://www.imf.org/-/media/files/publications/pp/2020/english/ppea2020052.pdf_