The Fund’s Income Position For FY 2020 -- Actual Outcome

Policy Papers, December 4, 2020

Source details

Reports on the Fund’s income position for FY 2020 following the closing of the Fund’s accounts for the financial year and completion of the external audit.
Comparison point: results compared with estimates published in the April supplement.

Net operational income was about SDR 1.4 billion, slightly higher than estimated in the April supplement, mainly reflecting higher investment income.
The unrealized pension-related adjustment in FY 2020, stemming mainly from the actuarial remeasurement of staff retirement plan assets and liabilities, was larger than previously estimated.
The larger unrealized pension-related adjustment more than offset the Fund’s net operational income, contributing to an overall net loss of about SDR 1.4 billion for the year.

Financial year: FY 2020.
Audit status: Accounts closed and external audit completed.
Main drivers:
- Higher investment income increased net operational income to about SDR 1.4 billion.
- Actuarial remeasurement of staff retirement plan assets and liabilities produced a larger-than-expected unrealized pension-related adjustment, producing an overall net loss of about SDR 1.4 billion.

Subjects: Budget planning and preparation; Discount rates; Exchange rates; Financial statements; National accounts; Personal income; Public financial management (PFM).
Keywords: about SDR; Budget planning and preparation; Financial statements; Fixed-Income Subaccount; net IAS; Personal income; plan asset performance; PP; SDR billion; SDR exchange rate; SDR millions.