- The Principality of Liechtenstein has accepted the Article VIII obligations, signaling that Liechtenstein will continue to pursue economic policies that contribute to a multilateral payments system free of restrictions.
Washington, DC: The government of Liechtenstein has notified the International Monetary Fund (IMF) that it has accepted the obligations of Article VIII, Sections 2(a), 3, and 4 of the IMF Articles of Agreement , with effect from January 23, 2025.
One of the key purposes of the IMF, as stated in the Article I (iv) of the Articles of Agreement, is to assist in the establishment of a multilateral system of payments in respect of current transactions between members and in the elimination of foreign exchange restrictions, which hamper the growth of world trade.
To promote this purpose, Sections 2(a), 3 and 4 of Article VIII establish certain obligations to refrain from imposing restrictions on the making of payments and transfers for current international transactions or from engaging in discriminatory currency arrangements or multiple currency practices without IMF approval.
By accepting the Article VIII obligations, Liechtenstein signals to the international community that it will continue to pursue economic policies that contribute to a multilateral payments system free of restrictions. This in turn can facilitate its international trade and improve the economy's attractiveness to foreign investors.
Liechtenstein joined the IMF on October 21, 2024; its quota is SDR 100 million (about $133 million).
