IMF Executive Board Approves FY2026–FY2028 Medium-Term Budget
IMF News, May 2, 2025
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Bibliographic details
- Published: May 2, 2025
Approval and context
- The Executive Board of the International Monetary Fund (IMF) approved the 2026-28 financial years (FY26-28) medium-term budget on April 18.
- Publication date: May 2, 2025.
- The global economy is described as "at a pivotal juncture" with transformations in the economic landscape and shifting policy priorities, increasing member demands for IMF support.
- The Fund’s budget is "roughly the same in real terms as it was two decades ago," reflecting longstanding emphasis on budget discipline.
- The Board emphasized:
- continued prudent stewardship of members’ resources;
- continued reprioritization to ensure agility in responding to membership needs;
- recognition of challenging budget management given elevated demands and high budget execution rates, which require difficult tradeoffs.
FY26 net administrative budget
- Approved net administrative budget for FY26 (May 1, 2025–April 30, 2026): US$1,551.7 million.
- This amount is stated to be consistent with projected income and the path for the precautionary balances target.
- Carryforward rule change:
- Maximum amount of unused budget resources that can be carried forward from previous years will be reduced from 5 to 4 percent in FY26.
- This carryforward level is expected to decline further to 3 percent in FY27.
FY26 capital budget and priorities
- FY26 capital budget: US$132.5 million.
- Capital budget will support:
- facilities-related needs and end-of-life facilities replacements;
- field office support;
- ongoing IT-intensive modernization and legacy replacements;
- investment in Artificial Intelligence;
- investment in the Fund’s cyber-security posture.
Documentation
- Additional information is available in the staff paper on the FY26-28 Medium-Term Budget.
IMF Executive Board Approves FY2026–FY2028 Medium-Term Budget — Press Release No. 25/127, May 2, 2025.