Press Release No. 14/216

Press Release: Nauru Applies for IMF Membership

May 9, 2014

Today the International Monetary Fund (IMF) Executive Board was informed that the Government of the Republic of Nauru has filed an application for membership in the IMF. The application for admission to IMF membership from the Republic of Nauru will be considered in due course.

Under the IMF's procedures, the application will be considered by the IMF's Executive Board, which will then submit a recommendation to the Board of Governors of the IMF in the form of a Membership Resolution. These recommendations cover the amount of quota in the IMF, the form of payment of the subscription, and other customary terms and conditions of membership. After the Board of Governors has adopted the Membership Resolution, the applicant country may become a member once it has taken the legal steps required under its law to enable it to sign the IMF's Articles of Agreement and to fulfill the obligations of IMF membership.

The IMF currently has 188 member countries.