The world is facing exceptional uncertainty. Major policy shifts, rising trade tensions, volatile markets, and ongoing conflicts are straining global ties, while technological and climate change create both challenges and opportunities. Trade tensions and associated tariffs are exacerbating the low growth/high debt outlook. In FY 2025, the IMF continued to support its members in our three 1) Economic surveillance: 133 country health checks completed. 2) Lending: $63 billion in financing to 20 countries (including $9 billion to 13 low-income countries), and 3) Capacity development: $382 million for hands-on technical advice, policy-oriented training, and peer learning. The report is also available in Arabic, Chinese, French, German, Japanese, Portuguese, Russian, and Spanish. Note: The 2025 IMF Annual Report covers the activities of the Executive Board and IMF management and staff during the financial year May 1, 2024, through April 30, 2025, and in some cases more recently. Background: The Annual Report website includes the IMF’s financial statements for FY 2025 and other background documentation. The Annual Report and the financial statements are also available online at www.imfbookstore.org or www.elibrary.IMF.org