IMF sees loss rising to $242m | The Daily Star
12:00 AM, July 06, 2008 / LAST MODIFIED: 12:00 AM, July 06, 2008

International Business News

IMF sees loss rising to $242m

Share this with

Copy this link

The International Monetary Fund on Thursday projected its budget deficit would rise to 242 million dollars in the 2009 fiscal year, after a loss that was not as bad as expected in the past year.
The fiscal year ended this past April closed with a deficit of 89 million dollars, after a series of reorganizational moves that averted a projected deficit of 234 million.
"This improvement stemmed primarily from the strong performance of the Fund's investment portfolio comprising primarily fixed-income securities, the one-time income effects associated with the settlement of overdue charges following Liberia's arrears clearance, and lower expenditures," the IMF said in a statement.
The IMF has eliminated several hundred jobs with 591 opting for voluntary separation program and is also in the process of taking other measures, including the sale of a portion of its gold reserves. But the latest budget projections do not include any income from gold sales.

Leave your comments

Top News

Share this with

Copy this link

Top News

Top