Switzerland's membership in the International Monetary Fund (IMF)

Switzerland has an important say in the International Monetary Fund (IMF). As a constituency leader, it is permanently represented in the IMF Ministerial Committee and Executive Board, where it plays an active role.  Switzerland is a reliable partner in initiatives to maintain the stability of the international financial and monetary system. Its almost universal membership with 190 countries gives the IMF a high degree of legitimacy as a multilateral player.

Switzerland has been a member of the IMF since 1992. The Head of the FDF represents Switzerland in the International Monetary and Financial Committee (IMFC). The IMFC convenes every six months, and these meetings are followed by meetings of the G20 finance ministers and central bank governors. As the leader of a constituency consisting of Azerbaijan, Kazakhstan, the Kyrgyz Republic, Poland, Serbia, Switzerland, Tajikistan, Turkmenistan and Uzbekistan, Switzerland has a permanent seat on the IMF Executive Board. Its Executive Board seat has rotated with Poland since 2014. The constituency has a voting share of 2.89%, whereby Switzerland has a share of 1.21%.
Overview of Switzerland's relations with the IMF

As an open and dynamic economy with a significant financial sector and its own currency, Switzerland has a major interest in helping to shape global financial and monetary cooperation. It is important to Switzerland that the IMF exercises its mandate to ensure the stability of the international financial system in a credible and effective manner and, as a major multilateral player, treats its members equally. Consequently, based on the principles of Switzerland's policy in the IMF, approved by the Federal Council, the country is committed to ensuring that the IMF conducts its activities in a rule-oriented and transparent manner and remains financially sound. At the same time, Switzerland promotes sustainability in the monetary, budgetary, debt and financial sector policies of the IMF's member countries.
> Principles of Switzerland's policy in the IMF

The IMF's activities cover the following dimensions. It performs these tasks in ongoing dialogue with its members:

The Federal Department of Finance (FDF) and the Swiss National Bank (SNB) jointly attend to Switzerland's membership of the IMF. Moreover, there is close cooperation with the State Secretariat for Economic Affairs (SECO) and the Swiss Agency for Development and Cooperation (SDC) regarding development policy issues. The FDF regularly reports to Parliament on Switzerland's financial commitment to the IMF, as well as on the monetary assistance provided by Switzerland. For the IMF itself, the Independent Evaluation Office (IEO) is tasked with critically reviewing the IMF's activities.
Independent Evaluation Office of the IMF (IEO)

The IMF explains its activities and current focus areas in detail on its website.

Further information

Last modification 13.10.2021

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