MIL OSI Translation. Government of the Republic of France statements from French to English –
Source: IMF in French
October 16, 2020
Washington: The Principality of Andorra became a member of the International Monetary Fund (IMF) today following the signing of the IMF’s Statutes by Ambassador Elisenda Vives Balmaña at a ceremony in Washington. Andorra applied for admission to the IMF in January 2020 (see press release no 20/5 ).
Andorra’s initial quota 1 is SDR 82.5 million (approximately $ 116.4 million).
After the signing ceremony, Kristalina Georgieva, Managing Director of the IMF, spoke with Ambassador Vives at IMF Headquarters.
“I am very happy to welcome Andorra as the 190th member of the IMF,” said Georgieva. Andorra faces the same short- and long-term challenges that our other European and other member countries face, and these challenges have been compounded by the pandemic. The IMF stands ready to work closely with the Andorran authorities and people to achieve their post-pandemic growth and development goals, in cooperation with other partners in the international community, ”she added.
1 The quota of an IMF member state determines its capital subscription, the number of votes allocated to it, its access to IMF financing and its allocation of SDRs.
IMF Communications Department
PRESS OFFICER: Wafa Amr
PHONE: +1 202 623-7100 EMAIL: MEDIA@IMF.org
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.