The government of Liechtenstein has confirmed its acceptance of certain obligations outlined in Article VIII, Sections 2(a), 3, and 4 of the International Monetary Fund (IMF) Articles of Agreement. The decision came into effect on January 23, 2025, and was officially communicated to the IMF recently.
One of the primary objectives of the IMF, as defined in Article I (iv) of the Articles of Agreement, is to help develop a multilateral system of payments for current transactions among its members. This framework also aims to eliminate foreign exchange restrictions that hinder global trade growth.
Sections 2(a), 3, and 4 of Article VIII contain specific obligations that prevent countries from imposing restrictions on payments for current international transactions, or from engaging in discriminatory currency practices without IMF consent.
With this move, Liechtenstein demonstrates its commitment to maintaining economic policies conducive to a multilateral payment system devoid of restrictions. This approach is likely to facilitate international trade and potentially boost foreign investment in the nation.
Liechtenstein became an IMF member on October 21, 2024, with a quota of SDR 100 million, approximately equivalent to $133 million.