2 facts
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Unlike most sovereign states, Andorra does not possess its own central bank. Instead, its financial system is overseen by the Andorran Financial Authority (AFA), which supervises private banks and monetary policy within the Eurozone framework.
For decades, Andorra operated as a significant tax haven, attracting foreign capital and businesses with its low taxes and banking secrecy. While reforms have moved it towards international transparency standards, its economic model still benefits from favorable tax policies.
