Liechtenstein votes to join IMF in referendum Reuters

ZURICH (Reuters) – Liechtenstein voted on Sunday to join the International Monetary Fund in a referendum, in a move aimed at deepening the tiny principality’s integration into multilateral affairs and creating an emergency backstop.

By a margin of 55.8 percent to 44.2 percent, voters in the wealthy country sandwiched between Switzerland and Austria backed becoming the 191st member of the Washington fund, according to an official government tally.

The membership was backed by Prince Alois, the interim head of state and heir to the throne, who said earlier this month it would support Liechtenstein’s financial stability and provide access to emergency liquidity.

Foreign Minister Dominique Hasler said the country opted for the IMF after careful consideration to pursue an active foreign policy and do so in a multilateral organization that makes sense for a nation of its size.

Membership also provided an extra layer of security in the event of potential crises, she told Reuters.

“Because we have seen in the past that even countries that are doing well can benefit from being members of the IMF,” she said.

Hasler said Liechtenstein will officially become a member after sealing its membership of the IMF on October 21.