{
  "title": "IMF Executive Board Approves FY2026–FY2028 Medium-Term Budget",
  "publication": "IMF News, May 2, 2025",
  "sourceUrl": "https://www.imf.org/en/news/articles/2025/05/02/pr-25127-imf-executive-board-approves-fy2026-fy2028-medium-term-budget",
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  "summary": "On April 18, the Executive Board of the International Monetary Fund (IMF) approved the 2026-28 financial years (FY26-28) medium-term budget",
  "publishDate": "2025-05-02",
  "sections": [
    {
      "heading": "Approval and context",
      "content": "- The Executive Board of the International Monetary Fund (IMF) approved the 2026-28 financial years (FY26-28) medium-term budget on April 18.\n- Publication date: May 2, 2025.\n- 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.\n- The Fund’s budget is \"roughly the same in real terms as it was two decades ago,\" reflecting longstanding emphasis on budget discipline.\n- The Board emphasized:\n  - continued prudent stewardship of members’ resources;\n  - continued reprioritization to ensure agility in responding to membership needs;\n  - recognition of challenging budget management given elevated demands and high budget execution rates, which require difficult tradeoffs."
    },
    {
      "heading": "FY26 net administrative budget",
      "content": "- Approved net administrative budget for FY26 (May 1, 2025–April 30, 2026): US$1,551.7 million.\n- This amount is stated to be consistent with projected income and the path for the precautionary balances target.\n- Carryforward rule change:\n  - Maximum amount of unused budget resources that can be carried forward from previous years will be reduced from 5 to 4 percent in FY26.\n  - This carryforward level is expected to decline further to 3 percent in FY27."
    },
    {
      "heading": "FY26 capital budget and priorities",
      "content": "- FY26 capital budget: US$132.5 million.\n- Capital budget will support:\n  - facilities-related needs and end-of-life facilities replacements;\n  - field office support;\n  - ongoing IT-intensive modernization and legacy replacements;\n  - investment in Artificial Intelligence;\n  - investment in the Fund’s cyber-security posture."
    },
    {
      "heading": "Documentation",
      "content": "- Additional information is available in the staff paper on the FY26-28 Medium-Term Budget.\n\nIMF Executive Board Approves FY2026–FY2028 Medium-Term Budget — Press Release No. 25/127, May 2, 2025.\n\n---\n\n\n References\n\n- Press Releases\n- PRESS CENTER\n- staff paper on the FY26-28 Medium-Term Budget\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2025/05/02/pr-25127-imf-executive-board-approves-fy2026-fy2028-medium-term-budget"
    }
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    "Published: May 2, 2025",
    "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:",
    "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:",
    "FY26 capital budget: US$132.5 million.",
    "Capital budget will support:",
    "Additional information is available in the staff paper on the FY26-28 Medium-Term Budget.",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[staff paper on the FY26-28 Medium-Term Budget](https://www.imf.org/en/Publications/Policy-Papers/Issues/2025/05/02/FY2026-FY2087-Medium-Term-Budget-566623)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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