Liechtenstein meets conditions to enter IMF
Vaduz - Liechtenstein has met all of the requirements for entering the International Monetary Fund (IMF). This has been confirmed in agreement by the IMF’s bodies as well as the public bodies of the Principality of Liechtenstein.
Liechtenstein meets all the entry requirements for the International Monetary Fund (IMF). According to a press release, the IMF’s Executive Board and Board of Governors have agreed to accept the principality into the IMF with a large majority. According to the press release, the IMF, which boasts 190 member countries, considers all conditions for entry to have been met by Lichtenstein.
In parallel with these decisions, the government of Liechtenstein adopted the application for accession on April 16, 2024. Liechtenstein views membership of the IMF as a way to increase the reputation and visibility of the principality’s economic location and financial center. According to the press release, bilateral collaboration with Switzerland could be further intensified through membership.
The press release goes on to state that accession is also interesting form a financial point of view. The administrative costs for Liechtenstein amount to half a million Swiss francs annually. At the same time, Liechtenstein is assigned a share of 120 million Swiss francs corresponding to the country’s economic importance. A quarter of this sum will be deposited with the IMF as a liquid reserve position and yields annual interest of 1.15 million Swiss francs at present. This income exceeds the estimated costs by 615,000 Swiss francs. ce/ww
