Press Release: Republic of Palau Joins the IMF
December 17, 1997
The Republic of Palau has become a member of the International Monetary Fund (IMF). The IMF's Articles of Agreement were signed in Washington, D.C. by Vice President and Minister of Administration Tommy E. Remengesau, Jr.
The Republic of Palau's initial quota1 in the IMF is SDR 2.25 million (about US$3.0 million). With the admission of the Republic of Palau, membership in the IMF totals 182 countries, and the total of members' quotas is SDR 145,321 million (about US$195,911 million).
1 A member's quota in the IMF determines in particular its capital subscription, its voting weight, its access to IMF financing, and its allocation of SDRs.