This paper reports on the Fund’s income position for FY 2020 following the closing of the Fund’s accounts for the financial year and completion of the external audit.
Net operational income was about SDR 1.4 billion, slightly higher than estimated in the April supplement, mainly reflecting higher investment income.
However, the unrealized pension-related adjustment in FY 2020, stemming mainly from the actuarial remeasurement of staff retirement plan assets and liabilities, was larger than previously estimated and more than offset the Fund’s net operational income, contributing to an overall net loss of about SDR 1.4 billion for the year.
The GRA net loss was charged against the special reserve, after which the Fund’s precautionary balances amounted to SDR 16 billion at the end of FY 2020.
In accordance with decisions taken in April 2020, a transfer of currencies amounting to SDR 319 million was made during the second quarter of FY 2021 from the Investment Account to the GRA.
Below are details of the report: