The IMF's Articles of Agreement were signed in Washington by Minister for Finance and Economic Planning of Tuvalu Lotoala Metia, following which IMF Managing Director Dominique Strauss-Kahn met Metia at IMF headquarters.
"It is an honor for me today to welcome Tuvalu to the International Monetary Fund as our 187th member," Strauss-Kahn stated.
"Tuvalu's membership is a strong reminder of the importance of multilateralism and international cooperation in today's dynamic global economy. With its size and remoteness, Tuvalu faces a unique set of economic challenges. I am confident that Fund membership will help Tuvalu strengthen its economic footing," he said.
Tuvalu's initial quota in the IMF is SDR 1.8 million (about $2.7 million).
With the admission of Tuvalu the total members quota rises to SDR 217.43 billion (about $321.18 billion), the IMF said in a statement.