Liechtenstein votes to join the International Monetary Fund
Voters in Liechtenstein have approved the Principality’s accession to the International Monetary Fund (IMF) with a vote share of 55.8 percent.
This means that Liechtenstein can now become the 191st member of the IMF. Back in March and April, the IMF boards had already given the green light for Liechtenstein to join. A majority of voters across all municipalities of Liechtenstein has voted to approve the Principality’s accession to the IMF with an overall majority of 55.8%.
As such, the final hurdle standing in the way of Liechtenstein joining the organisation has now successfully been cleared. The Executive Board and the Board of Governors of the IMF had already approved Liechtenstein’s admission by a large majority in March and April 2024. The Government of Liechtenstein then adopted the report and passed the motion into the hands of Parliament on April 16, 2024, which ultimately approved the accession on May 16. A referendum was then held to ratify the decision made by parliament.
Prior to the vote, the government and parliament expressed their view that membership of the IMF would offer enhanced security during times of crisis. The country is paying in 30 million Swiss francs out of its quota of 120 million Swiss francs. This currently earns interest of 1.15 million Swiss francs. This sum is twice as high as the anticipated administrative costs of around 500,000 Swiss francs.
Liechtenstein will become the 191st member of the IMF. Founded in 1944 and headquartered in Washington D.C., the organisation can lend member states up to one billion US dollars at present. Switzerland, which is part of a currency union with Liechtenstein, has been a member of the IMF since 1992.
