The Fund's Income Position for FY 2024--Actual Outcome

This paper reports on the Fund’s income position for FY 2024 following the closing of the Fund’s accounts for the financial year and completion of the external audit. Overall net income of the General Department was SDR 4.7 billion, about SDR 0.2 billion higher than estimated in April, mainly reflecting an increase in the remeasurement gain reported under IAS 19 (the accounting standard for employee benefits). GRA net income in FY 2024 increases the Fund’s reserves and, in accordance with decisions taken by the Executive Board in April 2024, a net transfer of currencies of SDR 3.3 billion will be made from the GRA to the Investment Account during FY 2025. The Fund’s precautionary balances, following the placement of net income to the Fund’s reserves and the pension-related adjustments for the year, reached SDR 25.1 billion at the end of FY 2024, in line with the April projection.