Andorra attends the Annual Meeting of the Joint Committee of the Monetary Agreement

Joint Committee of the Monetary Agreement

22/11/2021

Last Thursday 18 November 2021 Andorra attended the Annual Meeting of the Joint Committee of the Monetary Agreement between the Principality and the European Union. The agreement, signed in 2011, entitles the country to issue euro coins and is accompanied by an annex listing the legal provisions that the Government of Andorra has to implement, either by direct transposition or by the adoption of equivalent measures on legislation related to the prevention of money laundering, the prevention of fraud and counterfeiting, rules on euro banknotes and coins, banking and financial legislation and legislation on collection of statistical information. Thus, the Joint Committee meets annually to stablish the transposition deadlines of the new arrangements included in the annex.

This year, similar to last year, due to the COVID-19 sanitary crisis situation, the meeting took place by conference call.

The meeting also emphasized the works carried out by Andorra over the last year, as well as the reforms that have been carried out as part of an overall strategy of homologation to international standards.

The Andorran Delegation was headed by the Secretary of State of International Financial Affairs, Marc Ballestà, the Head of Mission and Ambassador of Andorra in the EU, Esther Rabassa, and Representatives of the Ministries of Finance, Foreign Affairs, Justice and Home Affairs, the UIFAND, the AREB and the AFA. The European Union Delegation was led by the Head of DG ECFIN (European Commission), Philip Tod, who was accompanied by Representatives of the Commission’s Directorate General for Economic and Financial Affairs, the European Central Bank, the Spanish Treasury, the Bank of Spain and the Bank of France.

Source: Andorran Financial Authority