Bulgaria’s Kristalina Georgieva among the two in the race for IMF head

A vote on August 2 would select the European nomination for head of the International Monetary Fund (IMF).

EU member states will choose their candidacy selecting between former Dutch Finance Minister Jeroem Dijsselbloem and Bulgaria's Kristalina Georgieva - World Bank Chief Executive.

Spanish Economy Minister Nadia Calviño and Portugal's Finance Minister Mário Centeno have withdrawn from the race.

The winner must receive 55% of the votes of the 28 Member States, or of 16 countries, representing at least 65% of the EU population.

The IMF wants to complete the process of determining Christine Lagarde’s successor by October 4. The position of IMF managing director has been vacated after she was appointed to head the European Central Bank.