IMF sets US$86m as capital budget for FY2020

IMF condemns Xenophobic attacks

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The International Monetary Fund (IMF) has set US$86 million as capital budget for the Financial Year (FY) 2020, which provides financing for capital projects for building facilities and IT.

In a statement by the Fund on Monday, this includes major projects to overhaul work practices and introduce modern digital platforms and tools.

The net administrative budget for FY2020, which covers all administrative expenses less receipts (primarily from external sources to help support capacity building activities and excluding lending income), has been set at US$1,158 million.

On April 5, 2019, the executive board of the Fund approved the IMF’s administrative and capital budgets for financial year 2020, beginning May 1, 2019, and took note of indicative budgets for FY2021–22.

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The FY2020 budget represents an unchanged resource envelope in real terms for the eighth year in a row, measured relative to the IMF’s budget deflator, with the exception of a small (0.6 percent) increase in FY2017 to meet rising cyber and physical security costs.

The budget priorities for FY2020 include increased resources to country work, notably in low-income countries and fragile states, the work on governance and the fight against corruption, and macro-financial surveillance. To accommodate this with unchanged resources, reallocation and savings measures amounting to 3 percent of the previous year’s budget are planned for implementation. As is customary, the nominal dollar budget includes an adjustment to accommodate price increases, 2.6 percent for FY2020.

The FY 20 budget proposal is formulated against the backdrop of a weakened global outlook and financial volatility. The budget reflects a strategic agenda—operationalized in the Managing Director’s Global Policy Agenda (GPA) and Board Work Program (BWP)—to help members rebuild policy space, strengthen resilience, and implement structural reforms. This will be supported by continued work to review policies and strategies to enhance Fund advice.

HOPE MOSES-ASHIKE

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ByHope Moses-Ashike

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Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.