Federal Council updates principles of Switzerland's commitment to IMF

Bern, 20.12.2017 - During its meeting on 20 December 2017, the Federal Council essentially confirmed and updated the key principles of Switzerland's policy in the International Monetary Fund (IMF). It also adopted a report on Switzerland's commitment to the international financial and monetary system.

The Federal Council essentially confirmed the principles adopted in 1999 on which Switzerland's commitment to the IMF is based. These have been updated and adjusted to the development of the global economic environment over the past twenty years. They aim to maintain the consistency of Switzerland's position in the IMF and support its active participation in this organisation.

The Federal Council also adopted a report in response to the postulate of National Councillor Susanne Leutenegger Oberholzer entitled "The international monetary system and Switzerland's strategy" (15.3434). The report shows how Switzerland is committed to the relevant international institutions, and particularly the IMF, in order to contribute actively to the stability of the international financial and monetary system.

A stable international financial and monetary system is of great importance for Switzerland as a dynamic and open economy with a globally significant financial centre and its own currency. The report stresses that the IMF plays an important role in preventing and managing global economic and financial crises. Economic and financial openness remains a key factor for prosperity and growth, as well as a prerequisite for sustainable globalisation. It is thus important for Switzerland to continue to participate in the institutions of relevance for the international financial and monetary system in order to take advantage of the opportunities offered by globalisation and at the same time minimise its risks.

Address for enquiries

Anne Césard, Communications, State Secretariat for International Financial Matters SIF
Tel. +41 58 462 62 91, anne.cesard@sif.admin.ch