Andorra applies to join the IMF

[WASHINGTON] The tiny, wealthy European principality of Andorra has applied to become the 190th member of the International Monetary Fund, the IMF said Thursday.

The application from the independent state in the Pyrenees mountains, sandwiched between Spain and France, will be considered by the IMF's executive board "in due course," the IMF said.

Known to many Europeans for its cheap duty-free shopping, Andorra has a population of about 86,000 and annual GDP of about US$3.3 billion, according to the CIA World Factbook.

Its per capita GDP of about US$50,000 ranked 32nd in the world in 2015, the CIA says.

AFP