Ann: New Australian Funding Agreement, page-15

That makes a lot of sense. Yes, agree that them flagging each new case commitment as market sensitive is increasingly meaningless given the volume of cases is rapidly increasing - I suspect it has at least a little bit to do with the fact that IMF make a living suing companies who don't make timely and proper disclosure, so they probably overcompensate in their own announcements. It would be the ultimate irony if IMF were one day sued for false or misleading disclosures!

I tend to agree with you that opening each new case announcement is close to a waste of one's time these days. I take the 80/20 approach and simply say that it's all just money out the door, and it will come back to IMF at some point in the future (usually around two years) at some average rate of return (hopefully around 2x).