In Historic Step, Liechtenstein Becomes the IMF’s 191st Member

Monday, October 21, 2024

On Monday, October 21, 2024, Liechtenstein officially became the 191st member of the International Monetary Fund. Prime Minister Daniel Risch signed the original Articles of Agreement at the US Department of State in Washington, D.C., marking a significant step for Liechtenstein’s global financial integration. This decision, backed by a popular vote in Liechtenstein, highlights the nation’s commitment to international cooperation and economic stability.

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Prime Minister Daniel Risch signing the original Articles of Agreement at the US Department of State

 

Liechtenstein was warmly welcomed by IMF Managing Director Kristalina Georgieva and Secretary Ceda Ogada, underscoring the significance of the Principality’s entry into the global financial institution.

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Prime Minister Daniel Risch greeting the Managing Director of the IMF, Kristalina Georgieva

 

That evening, the Embassy of Liechtenstein in Washington, D.C., held a reception celebrating this historic moment with distinguished guests, honoring Liechtenstein’s longstanding dedication to multilateral engagement and diplomacy.

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IMF Reception at the Embassy of Liechtenstein

 

Liechtenstein’s Participation in Key IMF Meetings

Throughout the week, Prime Minister Risch led the Liechtenstein delegation in several important meetings as Liechtenstein’s first Governor to the IMF. Liechtenstein participated in its first official meetings of the IMF, including the Annual Meetings Plenary and International Monetary and Financial Committee (IMFC) meetings. These sessions provided a platform for Liechtenstein to engage with global economic leaders on issues affecting the international financial system.

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Prime Minister Daniel Risch participating in the Constituency Meeting

Liechtenstein, now part of the Swiss-led constituency group, stands alongside Switzerland, Azerbaijan, Kazakhstan, Poland, Serbia, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan in IMF discussions and decision-making.

The Liechtenstein delegation also held bilateral meetings with counterparts from the Swiss National Bank, the Austrian National Bank, as well as delegations from Iceland, Luxembourg, and Andorra, solidifying connections within the international financial community and expanding Liechtenstein’s network of strategic partnerships.

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Signing of the Depositary Agreement with the Swiss National Bank

 

During his time in Washington, Prime Minister Risch participated in public discussions highlighting the importance of Liechtenstein’s IMF membership and the circumstances of its joining.

At the Wilson Center, Prime Minister Risch discussed with Ambassador Mark Green about Liechtenstein’s decision to join the IMF, the value of multilateral diplomacy, and how Liechtenstein’s membership aligns with global financial stability goals.

Watch the fireside chat here.

In an event at the Peterson Institute for International Economics, Prime Minister Risch spoke about Liechtenstein’s journey to IMF membership, touching on the challenges of misinformation and the Principality’s dedication to transparency, including on technical economic policy matters. The discussion, moderated by Peterson Institute President Adam Posen, included IMF General Counsel Yan Liu and underscored the lessons Liechtenstein’s experience can offer in advancing strategic economic policy.

Watch the discussion here.

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Prime Minister Daniel Risch in a Discussion with Yan Liu and Adam Posen

 

Prime Minister Risch also engaged with media throughout the week. In an interview with IMF Today, Prime Minister Risch shared insights on Liechtenstein’s priorities within the IMF, emphasizing the nation’s commitment to sustainable economic growth, transparency, and active multilateralism.

Watch the interview here.

Commitment to a Sustainable and Cooperative Future

Liechtenstein’s first week as an IMF member reflects its strong commitment to global cooperation and a sustainable future for all. With this new membership, Liechtenstein is ready to actively support responsible economic policies that promote financial stability and transparency around the world.