Kristalina Georgieva selected for second term as IMF managing director
International Monetary Fund's executive board on Friday selected Bulgarian economist Kristalina Georgieva to serve as managing director for a second five-year term, starting on Oct. 1 this year, the global lender said.
«The Board commended Ms. Georgieva's strong and agile leadership during her term, navigating a series of major global shocks,» it said in a statement. Georgieva had been the only candidate for the job.
European Union finance ministers last month endorsed Georgieva for a second term at the helm of the lender of last resort, virtually assuring her approval. Traditionally, European countries recommend the managing director of the IMF and the United States recommends the head of the World Bank.
Georgieva said she was grateful to the board and honored to be selected for a second term, and said she looked forward to continuing to working with the IMF's «exceptional» staff.
«In recent years, the IMF has helped our member countries to navigate successive shocks, including the pandemic, war and conflicts, and a cost-of-living crisis,» she said. «We also stepped up our work on climate change, fragility and conflict, and the digital transition, in line with their increased significance for macroeconomic and financial stability, growth and employment.»
U.S. Treasury Secretary Janet Yellen said she looked forward to working with Georgieva to strengthen the IMF's support of low-income countries and support the broader membership through well-designed
