Relationships with the International Monetary Fund

Relationships with the International Monetary Fund

San Marino has been a regular member of the International Monetary Fund since 23 September 1992, with a voting entitlement equal to 961 votes. The Secretary of State for Finance and Budget, is the Governor for San Marino within the Board of Governors of the Fund.

At a management level, the International Monetary Fund is governed by an Executive Board, comprised by the Director General and his Management Team and 24 Members (Executive Directors) representing the countries participating to the Fund. Based on the statutory provisions, United States, Germany, Japan, France and United Kingdom, due to their greater participation to the Fund, both in terms of share and votes, may appoint their Executive Director directly. Each one of the other Executive Directors, instead, represents a specific group of countries (Constituency).

The Constituency of which San Marino is a member includes Italy, Albania, Greece, Malta and Portugal. At the moment, the Executive Director for this Constituency is Mr Federico Giammusso.

Consultations pursuant to article IV of the Statute of the International Monetary Fund

As a Member State, San Marino participates to the consultation programs of the Fund. Specifically, San Marino takes part, on an annual basis, to the consultations provided for pursuant to Article IV of the Statute on the relevant issues related to the economy of the country.

See the latest assessment report on San Marino:

Financial Position of San Marino within the Monetary Fund

A summary of the financial position of San Marino within the Fund is available on this page of the website of the Monetary Fund.

As at 30 November 2014 the value of the participation share of San Marino in the IMF is equal to 22.44 million SDRs (Special Drawing Rights).