## FY2027-FY2029 Medium-Term Budget

_Policy Papers, May 8, 2026_

## Source details

**Canonical URL:** [FY2027-FY2029 Medium-Term Budget](https://www.imf.org/en/publications/policy-papers/issues/2026/05/08/fy2027-fy2029-medium-term-budget-575926)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2026/05/08/fy2027-fy2029-medium-term-budget-575926/index.md)
- [Structured JSON version](/en/publications/policy-papers/issues/2026/05/08/fy2027-fy2029-medium-term-budget-575926/index.json)
- [Bundle manifest](/en/publications/policy-papers/issues/2026/05/08/fy2027-fy2029-medium-term-budget-575926/bundle-manifest.json)

## Bibliographic details
- Published: May 8, 2026
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798229042208.007

---

### Executive summary and context
- The global economic and financial environment is characterized by profound transformation and heightened uncertainty, including that stemming from the war in the Middle East.
- Demand for Fund engagement is expected to remain strong, continuing to require difficult trade-offs within a real flat budget.
- The FY27-29 budget maintains a longstanding emphasis on discipline, focus, and agility in line with the evolving needs of the membership.
- Implementation of a Fund-wide streamlining exercise is reinforcing ongoing department-level prioritization to:
  - create space for the highest priority needs,
  - relieve staff work pressures,
  - maintain capacity for unforeseen demands.

### Key objectives and priorities
- Emphasize budget discipline, focus, and agility across the Fund.
- Prioritize department-level activities to align resources with highest priority needs.
- Undertake Fund-wide streamlining to free capacity and reduce staff workload pressures.
- Preserve ability to respond to elevated demand for engagement despite a real flat budget.

### Subjects and thematic coverage
- Capital budget
- Expenditure
- Public financial management (PFM)
- Technology

### Keywords (as provided)
- budget agility
- budget discipline
- budget envelope
- budget framework
- budget overview
- budget planning
- Budget planning and preparation
- Budget process
- budget prudence
- budget resources
- Budget utilization
- capital budget
- Central Asia
- Cyber risk
- fund staff
- Global
- Imf executive board
- Imf staff
- medium-term budget
- Middle East
- staff work pressure

---

## Content in this bundle

- **Policy Paper**
  - [Policy Paper (Markdown version)](/-/media/files/publications/pp/2026/english/ppea2026015.pdf.md){rel="alternate" type="text/markdown"}
  - [Policy Paper (PDF)](/-/media/files/publications/pp/2026/english/ppea2026015.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/policy-papers/issues/2026/05/08/fy2027-fy2029-medium-term-budget-575926_