Press Release No. 09/240

Press Release No. 09/240
June 29, 2009

The Republic of Kosovo became the 186^th member of the International Monetary Fund (IMF) today when President Fatmir Sejdiu and Prime Minister Hashim Thaçi signed the IMF’s original Articles of Agreement at a ceremony in Washington D.C.

Managing Director Dominique Strauss-Kahn welcomed President Sejdiu and Prime Minister Thaçi into the Fund at IMF headquarters.

“It gives me great pleasure to welcome Kosovo, the first new member to join the Fund during my tenure,” Mr. Strauss-Kahn said. “Kosovo’s decision to join the Fund highlights the enduring importance of multilateralism in today’s world.”

The Managing Director expressed satisfaction with progress made in institution building in Kosovo. “I am particularly pleased with the commitment of the Kosovar authorities to further strengthening the sustainability of their policy framework.”

Kosovo’s initial quota¹ in the IMF is SDR 59.0 million, or about US$ 91.5 million. Kosovo's share of total Fund quotas would be 0.027 percent. With the admission of Kosovo, total members' quotas in the IMF rises to SDR 217.43 billion.

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¹ A member's quota in the IMF determines in particular its capital subscription, its voting power, its access to IMF financing, and its share in a general allocation of SDRs.