The Fund's Income Position for FY 2024--Actual Outcome
Policy Papers, November 21, 2024
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- The Fund's Income Position for FY 2024--Actual Outcome
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Bibliographic details
- Published: November 21, 2024
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798400294440.007
Summary findings
- Overall net income of the General Department was SDR 4.7 billion.
- This result was about SDR 0.2 billion higher than estimated in April, mainly reflecting an increase in the remeasurement gain reported under IAS 19 (the accounting standard for employee benefits).
- GRA net income in FY 2024 increases the Fund’s reserves.
Accounting and audit
- The paper reports on the Fund’s income position for FY 2024 following the closing of the Fund’s accounts for the financial year and completion of the external audit.
- The increase relative to the April estimate mainly reflects an increase in the remeasurement gain reported under IAS 19.
Transfers and reserve management
- In accordance with decisions taken by the Executive Board in April 2024, a net transfer of currencies of SDR 3.3 billion will be made from the GRA to the Investment Account during FY 2025.
- GRA net income in FY 2024 contributes to the Fund’s reserves.
Precautionary balances
- The Fund’s precautionary balances, following the placement of net income to the Fund’s reserves and the pension-related adjustments for the year, reached SDR 25.1 billion at the end of FY 2024.
- That level is in line with the April projection.
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- Policy Paper