WASHINGTON: The Principality of Liechtenstein has officially joined the International Monetary Fund (IMF) as its 191st member, marking a significant step in its engagement with global economic policy. The membership was formalized when Prime Minister Daniel Risch signed the Fund's Articles of Agreement during a ceremony held in Washington, DC, at the 2024 IMF/World Bank Group annual meetings. According to Ghana News Agency, IMF Managing Director Kristalina Georgieva expressed her welcome to Liechtenstein, highlighting the principality's commitment to international economic standards and cooperation. She emphasized the importance of Liechtenstein's membership in the context of current global economic challenges such as fragmentation and climate change. Georgieva assured that the IMF would support Liechtenstein in its pursuit of sustainable growth and deeper integration into the global economy. Prime Minister Risch, reflecting on the country's decision to join the IMF, stated that Liechtenstein aims to contri bute positively to international economic resilience and stability. He acknowledged the principality's careful consideration before joining international organizations, emphasizing both the benefits and the responsibilities associated with IMF membership. Risch affirmed Liechtenstein's dedication to being an active member of the Fund. Liechtenstein's application for IMF membership was submitted in May 2023, leading to an IMF delegation visiting Vaduz, the capital city, later that year. The decision to join was supported by a national referendum held on September 22, 2024. Liechtenstein's initial financial commitment to the IMF is set at an SDR quota of 100 million, equivalent to approximately US$134.7 million. Liechtenstein, with a population of around 40,000 and a workforce of over 42,500 as of 2022, boasts the second-highest per capita income in Europe, trailing only Monaco. The country is known for its picturesque landscapes and robust financial and industrial sectors, which include electronics, metalwor king, and pharmaceuticals.