Liechtenstein votes to join IMF in referendum By Reuters

ZURICH (Reuters) – Liechtenstein voted to join the International Monetary Fund in a referendum on Sunday in a move aimed at integrating the tiny principality more deeply into multilateral affairs and creating a backstop for potential emergencies.

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

Membership was backed by Prince Alois, the acting head of state and heir to the throne, who said earlier this month it would underpin the financial stability of Liechtenstein and provide access to liquidity in the event of any emergency.

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

Membership also offered an additional layer of security in case of potential crises, she told Reuters.

“Because we’ve seen in the past that even countries that are doing well can benefit from being an IMF member,” she said.

Hasler said Liechtenstein would formally become a member after sealing its accession with the IMF on Oct. 21.