The Principality of Liechtenstein has been admitted into the fold of the International Monetary Fund (IMF) making it the Fund’s 191st member. This came after the Prime Minister Daniel Risch signed the Fund’s Articles of Agreement at a short ceremony in Washington D.C. on Monday.
Liechtenstein applied for IMF membership in May 2023. Subsequently, an IMF team visited Vaduz during November 27-December 8, 2023 as part of the process towards admission. The principality’s decision to join the IMF was confirmed by a majority in a national referendum conducted on September 22, 2024 and the initial quota for Liechtenstein is SDR 100 million (about US$134.7 million).
After the signing ceremony, IMF Managing Director Kristalina Georgieva expressed her delight to “welcome Liechtenstein as the 191st member of our global IMF community. This membership signifies Liechtenstein’s commitment to upholding the highest standards of economic policy and cooperation on the international stage. The IMF will work closely with the authorities to support Liechtenstein’s efforts toward sustainable growth and further integration into the global economy.”
“Liechtenstein is joining the IMF at a time when our members and the global economy are navigating greater uncertainty and long-term challenges such as economic fragmentation and climate change. This accession reaffirms the important role entrusted to the IMF in fostering global economic cooperation and stability. Together, we will build a more inclusive and sustainable economic future for all members.”
Responding, Prime Minister Daniel Risch said that the government of Liechtenstein is very pleased with the development adding that “As a small country with limited administrative resources, we reflect carefully before joining international organizations, evaluating not only the consequences and benefits of what the organization can bring us – but also what we can bring to the organization ourselves. Liechtenstein will be a committed and dedicated member of the Fund. We’re looking forward to engaging constructively to advance international economic resilience and stability.”
