IMF Managing Director Kristalina Georgieva Visits Liechtenstein

From Left: IMF Managing Director Kristalina Georgieva and Liechtenstein Prime Minister Brigitte Haas.

IMF Managing Director Kristalina Georgieva with H.S.H. Hereditary Prince Alois of Liechtenstein at Vaduz Castle.

Just over one year after Liechtenstein became the newest member of the International Monetary Fund, the IMF‘s highest official, Managing Director Kristalina Georgieva, visited the Principality. There she met with Prime Minister Brigitte Haas and Hereditary Prince Alois of Liechtenstein. Their conversations focused on the importance of international institutions and multilateral organizations, as well as an assessment of the current economic situation in Europe and around the world. You can also read the official press release here.

 Managing Director Georgieva’s visit came as the IMF conducted its second Article IV mission in Liechtenstein from January 14-27, led by Mission Chief Kazuko Shirono. The IMF delegation met with members of the Government as well as representatives from various ministries, the Liechtenstein Chamber of Commerce and Industry, and the Liechtenstein-Institut to learn about Liechtenstein’s economic policies and priorities. In a statement following the mission, the IMF said “Despite regional and global headwinds and volatility in growth in recent years, Liechtenstein has maintained large fiscal buffers with virtually no debt. The financial system has weathered global stress well, with ample capital and liquidity buffers.” However, the IMF acknowledged that “The Principality faces challenges as its small, highly open and industrialized economy is exposed to continuing global economic and geopolitical shifts.”

 What is an Article IV Mission? Article IV Missions are a cornerstone of the IMF’s role in promoting global economic stability and collaboration. IMF experts visit member countries periodically to assess economic and financial developments, exchange views with government officials and stakeholders, and provide recommendations to ensure sustainable economic growth.