The International Monetary Fund (IMF) says it made an income of SDR 1,884 million on loans for the 2020 fiscal year.
The income on its multilateral loans however, was SDR 5 million below its April Supplement Estimate.
According to the IMF, the robust income from its lending reflects the ongoing elevated use of Fund credit due partly to the Fund’s support to member countries to help address the COVID-19 pandemic.
“Income from the margin, commitment fees, and surcharge income were in line with projections in the Supplement; however, service charges were lower following delays in some projected purchases under the Rapid Financing Instrument,” read the report on IMF’s income position for the 2020 fiscal year.
The Fund also noted that, income accrued on investments made for the 2020 fiscal year amounted to SDR 319 million, higher than the April estimate of SDR 253 million.
Special Drawing Rights (SDR) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund.
SDRs are units of account for the IMF, and not a currency per se. They represent a claim to currency held by IMF member countries for which they may be exchanged.
The IMF’s SDR has an exchange rate of 1.38 to the dollar.
Find below details of the IMF’s income position report