Andorra has joined the International Monetary Fund (IMF), to become its 190th member. Andorra is a microstate situated between France and Spain. However, it is the largest microstate in Europe.
IMF’s Membership allows the Andorran government to benefit from IMF policy advice, especially as the country tackles the crisis caused by COVID-19 and can now receive an annual review or “health check” of its economy by the IMF, tap technical assistance, and access IMF lending if needed.
Important takeaways for all competitive exams:
- Capital of Andorra: Andorra la Vella.
- The currency of Andorra: Euro.