12 May 2014

Nauru looks to join IMF

4:46 pm on 12 May 2014

Nauru has filed an application for membership in the International Monetary Fund.

If successful, Nauru would be the 189th member state of the IMF.

The IMF previously considered Nauru non-compliant with its standards on transparency regarding offshore banking.

However in recent years, Nauru has modified its offshore finance sector and started engaging the services of the IMF-run Pacific Financial Technical Assistance Centre.