{ "title": "IMF Executive Board Approves FY2023–FY2025 Medium-Term Budget", "publication": "IMF News, May 27, 2022", "sourceUrl": "https://www.imf.org/en/news/articles/2022/05/27/pr22174-imf-approves-fy2023-fy2025-medium-term-budget", "canonical": "https://www.imf.org/en/news/articles/2022/05/27/pr22174-imf-approves-fy2023-fy2025-medium-term-budget", "overlayPath": "/en/news/articles/2022/05/27/pr22174-imf-approves-fy2023-fy2025-medium-term-budget/index.md", "summary": "IMF Executive Board Approves FY2023–FY2025 Medium-Term Budget", "publishDate": "2022-05-27", "sections": [ { "heading": "Context and decision", "content": "- Meeting date: April 28, 2022.\n- Board considered the FY23–25 Medium-Term Budget in the context of significant economic uncertainty driven by the fallout of the pandemic, the war in Ukraine, and shifting monetary conditions in major markets.\n- The Board emphasized the need for the Fund to remain agile and to work in close cooperation with partners.\n- The Board stressed continued strict budget discipline through robust savings and reprioritization, while approving a targeted budget augmentation framework after a decade of flat real budgets." }, { "heading": "Budget trajectory and augmentations", "content": "- Real net administrative budget will increase on average by 2 percent each year during FY23 to FY25 relative to FY22, returning to a flat real budget trajectory thereafter.\n- New resources are linked to specific deliverables identified in Board-endorsed strategies to address:\n - climate change,\n - the rise of digital money,\n - macrofinancial surveillance,\n - fragility,\n - inequality.\n- The approved budget is consistent with projected income." }, { "heading": "FY23 fiscal specifics", "content": "- FY23 period: May 1, 2022–April 30, 2023.\n- Approved net administrative budget for FY23: US$1,295 million.\n- This represents a 1.8 percent ($21.8 million) real increase relative to FY22.\n- FY23 capital budget: US$78 million, a reduction of 1.3 percent from FY22, intended to allow critical investments and to incorporate lessons from the remote environment and recent modernization experience." }, { "heading": "Carryforward and externally funded spending", "content": "- Maximum amount of unused budget resources that can be carried forward from previous years reduced from 8 to 7 percent of the underlying budget—an initial unwinding of exceptional temporary space introduced in FY21 for immediate Covid-related crisis needs.\n- Board approved an increase in the limit and a carryforward mechanism for externally funded spending, linked to a ramp up in capacity development activities to support the Fund’s structural transformation agenda." }, { "heading": "Contact and media", "content": "- Press Release No. 22/174\n- Date of release: May 27, 2022\n- IMF Communications Department, MEDIA RELATIONS\n- PRESS OFFICER: Wafa Amr\n- Phone: +1 202 623-7100\n- Email: MEDIA@IMF.org\n- @IMFSpokesperson\n\nSource: IMF press release, \"IMF Executive Board Approves FY2023–FY2025 Medium-Term Budget.\"\n\n---\n\n\n References\n\n- Press Releases\n- PRESS CENTER\n- FY23-25 Medium-Term Budget\n- Augmentation Framework Paper\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2022/05/27/pr22174-imf-approves-fy2023-fy2025-medium-term-budget" } ], "bullets": [ "[Markdown version](/en/news/articles/2022/05/27/pr22174-imf-approves-fy2023-fy2025-medium-term-budget/index.md)", "[Structured JSON version](/en/news/articles/2022/05/27/pr22174-imf-approves-fy2023-fy2025-medium-term-budget/index.json)", "[Bundle manifest](/en/news/articles/2022/05/27/pr22174-imf-approves-fy2023-fy2025-medium-term-budget/bundle-manifest.json)", "Published: May 27, 2022", "Meeting date: April 28, 2022.", "Board considered the FY23–25 Medium-Term Budget in the context of significant economic uncertainty driven by the fallout of the pandemic, the war in Ukraine, and shifting monetary conditions in major markets.", "The Board emphasized the need for the Fund to remain agile and to work in close cooperation with partners.", "The Board stressed continued strict budget discipline through robust savings and reprioritization, while approving a targeted budget augmentation framework after a decade of flat real budgets.", "Real net administrative budget will increase on average by 2 percent each year during FY23 to FY25 relative to FY22, returning to a flat real budget trajectory thereafter.", "New resources are linked to specific deliverables identified in Board-endorsed strategies to address:", "The approved budget is consistent with projected income.", "FY23 period: May 1, 2022–April 30, 2023.", "Approved net administrative budget for FY23: US$1,295 million.", "This represents a 1.8 percent ($21.8 million) real increase relative to FY22.", "FY23 capital budget: US$78 million, a reduction of 1.3 percent from FY22, intended to allow critical investments and to incorporate lessons from the remote environment and recent modernization experience.", "Maximum amount of unused budget resources that can be carried forward from previous years reduced from 8 to 7 percent of the underlying budget—an initial unwinding of exceptional temporary space introduced in FY21 for immediate Covid-related crisis needs.", "Board approved an increase in the limit and a carryforward mechanism for externally funded spending, linked to a ramp up in capacity development activities to support the Fund’s structural transformation agenda.", "Press Release No. 22/174", "Date of release: May 27, 2022", "IMF Communications Department, MEDIA RELATIONS", "PRESS OFFICER: Wafa Amr", "Phone: +1 202 623-7100", "Email: MEDIA@IMF.org", "@IMFSpokesperson", "[Press Releases](https://www.imf.org/en/news/searchnews)", "[PRESS CENTER](http://presscenter.imf.org/)", "[FY23-25 Medium-Term Budget](https://www.imf.org/en/Publications/Policy-Papers/Issues/2022/05/27/FY2023-FY2025-Medium-Term-Budget-518393)", "[Augmentation Framework Paper](https://www.imf.org/en/Publications/Policy-Papers/Issues/2022/05/27/Budget-Augmentation-Framework-518403)", "[https://www.imf.org/en/home](https://www.imf.org/en/home)" ], "alternates": { "markdown": "/en/news/articles/2022/05/27/pr22174-imf-approves-fy2023-fy2025-medium-term-budget/index.md", "json": "/en/news/articles/2022/05/27/pr22174-imf-approves-fy2023-fy2025-medium-term-budget/index.json", "bundleManifest": "/en/news/articles/2022/05/27/pr22174-imf-approves-fy2023-fy2025-medium-term-budget/bundle-manifest.json" }, "generatedAtUtc": "2026-09-26T01:15:46.194Z" }