Washington: The International Monetary Fund has said it has received an application from South Sudan seeking its membership. The country is on the brink of independence after winning a referendum on secession from the North.

“The International Monetary Fund has received an application from the authorities of South Sudan for admission to membership in the IMF after South Sudan becomes an independent country on July 9, 2011,” the Washington-based multilateral institution said in a statement.

The application for admission to membership in the IMF from South Sudan will be considered in due course as set forth below. Sudan will remain a member of the IMF and retain all its quota in the Fund as well as all its assets in, and liabilities to, the IMF,” it said.

In view of South Sudan’s application for IMF membership, the IMF intends to seek donor contributions to a special Trust Fund for IMF Capacity Building for South Sudan.

(Agencies)