CGIAR 1988 Financial Report

Annual report issued by the CGIAR Secretariat to inform all participants in the System of developments in the financing of activities.The report summary follows: Total CGIAR contributions in 1988 were $261.6 million, $211.8 million for core / essential programs and $49.8 million for special / desirable programs. Core/essential contributions rose by $10.2 million or 5 percent ($9.4 million or 5 percent in 1987) and the increase in special / desirable contributions was $8.4 million or 20.2 percent ($1.9 million in 1987). Exchange rates played an important role in the final outcome for the system. The strength of the US dollar in the world financial markets from mid-1988 onwards combined with the fact that 58 percent of the contributions were disbursed in the second half of 1988 resulted in lower dollar revenues from donations denominated in non-dollar currencies. If disbursements in 1988 had been made at the same dollar exchange rates as in December 1987, the total would have been about $6 million or 3 percent higher.Supporting tables provide data for the period 1984-1988.