The government of Liechtenstein has approved the principality's application for membership in the International Monetary Fund (IMF), noting that the country has fulfilled all necessary requirements.
As indicated by the government, the executive council and the board of governors of the IMF in March-April with a majority of votes approved the entry of the principality into the international organization. “In this way, the IMF, which currently includes 190 countries, has in turn fulfilled all obligations for the accession of Liechtenstein”, the communique says.
He also notes that the administrative costs of the principality's IMF membership will amount to approximately 500,000 Swiss francs per year (547,000 USD). However, participation in this organization will allow Liechtenstein "in the event of a major natural disaster or economic crisis" gain access to financial resources and will also help to “strengthen the reputation” of countries as a reliable platform for doing business.