Browse

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • Debts, External x
  • Real sector x
  • Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill x
  • Personal Income, Wealth, and Their Distributions x
  • Refine By Language: English x
Clear All Modify Search
International Monetary Fund. Secretary's Department

Abstract

This paper presents different audited financial statements by the IMF. The accompanying consolidated financial statements of the General Department of the IMF (“the Department”), which comprise the consolidated statement of financial position as of April 30,2015, and the related consolidated statement of comprehensive income, of changes in reserves, resources, and retained earnings, and of cash flows for the year then ended have been audited. The responsibility is to express an opinion on the consolidated financial statements based on the audits. The audits have been conducted in accordance with International Standards on Auditing and auditing standards generally accepted in the United States of America. The consolidated financial statements referred to in the paper present fairly, in all material respects, the financial position of the General Department of the IMF on April 30, 2015, and the results of its operations and its cash flows for the year then ended in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.

International Monetary Fund
In April 2011, Executive Directors held a preliminary discussion on the use of the profits of SDR 6.85 billion from the Fund’s limited gold sale. They noted their expectation that at least SDR 4.4 billion of the profits would be placed in an endowment within the Investment Account, and affirmed their support for the 2009 financing package for low-income countries (LICs), including the distribution to the Fund’s membership of up to SDR 0.7 billion from the profits linked to gold sales, with the expectation that most members will return equivalent funds to the Poverty Reduction and Growth Trust (PRGT). There was a wide range of views among Directors on the three main options presented for the windfall of SDR 1.75 billion, but no consensus favoring a single option. The main options presented included use of resources linked to the windfall to boost the capacity of the PRGT, counting the windfall towards precautionary balances, or investing the windfall profits as part of the Investment Account’s endowment. Many Directors indicated that they could support a combination of two or more of the main options.