Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers the U.S. government, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. He can be reached on [email protected]
The Principality of Andorra joined the International Monetary Fund (IMF) on Friday, becoming the Fund’s 190th member.
Ambassador Elisenda Vives Balmaña signed the IMF’s Articles of Agreement at a ceremony in Washington D.C., the IMF said.
Andorra had applied for membership to the IMF in January 2020.
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Andorra’s initial quota1 in the IMF is SDR 82.5million (about US$ 116.4 million).
IMF Managing Director Kristalina Georgieva met with Ambassador Vives at IMF headquarters the signing ceremony
“I am very pleased to welcome Andorra as the 190th member of the IMF,” Ms. Georgieva said. “Andorra faces both short-term and long-term challenges common to European and other IMF member countries which have been aggravated by the pandemic. The IMF stands ready to work closely with the authorities and people of Andorra in achieving their post-pandemic growth and development objectives in cooperation with other partners in the international community,” she added.