The Fund's Income Position for FY 2008 - Midyear Review

This paper provides the basis for the Executive Board’s midyear review of the Fund’s income position based on developments in the first half of FY 2008.

Volume/Issue: Volume 2007 Issue 028

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Business and Economics , Banks and Banking , Exports and Imports , Economics- Macroeconomics , PP , SDR , income , financial year , interest rate , Board decision , about SDR , income shortfall , projection purpose , SDR billion , Personal income , SDR interest rate , Arrears , Adjustment process

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Summary

This paper provides the basis for the Executive Board’s midyear review of the Fund’s income position based on developments in the first half of FY 2008. Under Rule I-6(4) of the Fund’s Rules and Regulations, the Executive Board should consider whether the margin over the SDR interest rate used to calculate the rate of charge as determined at the beginning of the year should be changed in light of the actual income position for the first six months.