Bulgaria’s Georgieva selected for second five-year term as head of IMF

The Executive Board of the International Monetary Fund (IMF) selected Kristalina Georgieva to serve as IMF managing director for a second five-year term starting on October 1 2024.

The board’s decision was taken by consensus, the IMF said. Georgieva was the sole candidate.

Georgieva, a national of Bulgaria, has been the IMF’s managing director since 2019.

Previously she served as Chief Executive Officer of the World Bank from  January 2017.

From February 1 2019 to April 8 2019, she was the Interim President for the World Bank Group.

She previously served at the European Commission as Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, and as Vice President for Budget and Human Resources.

Georgieva has a Ph.D. in Economic Science and a MA in Political Economy and Sociology from the University of National and World Economy in Bulgaria, where she also taught from 1977 to 1991.

Reacting to being named for a second term as head of the IMF, Georgieva said: “I am deeply grateful for the trust and support of the Fund’s Executive Board, representing our 190 members, and honored to continue to lead the IMF as Managing Director for a second five-year term.

“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.

“The IMF’s financial support, policy advice and capacity development work—delivered by our exceptional staff—have contributed to countries’ capacity to deal with high uncertainty and abrupt shifts in economic conditions.

“We are and will remain a transmission line of good policies for our members and will continue to strive to be more effective, incisive and a welcoming place for countries to come together to tackle global challenges.

“I look forward to continue serving our membership, together with the highly professional and committed staff of the IMF,” Georgieva said.

(Photo via the Facebook page of the IMF)

Please support The Sofia Globe’s independent journalism by clicking on the orange button below and signing up to become a subscriber to our page on Patreon. For as little as three euro a month or the equivalent in other currencies, you can support The Sofia Globe via patreon.com:

Become a Patron!

The Sofia Globe staff

The Sofia Globe - the Sofia-based fully independent English-language news and features website, covering Bulgaria, the Balkans and the EU. Sign up to subscribe to sofiaglobe.com's daily bulletin through the form on our homepage. https://www.patreon.com/user?u=32709292