Bulgarian Kristalina Georgieva approved as the new head of IMF

The Executive Board of the International Monetary Fund (IMF) approved the Bulgarian economist Kristalina Georgieva as IMF Managing Director. In an interview on Tuesday, she convinced the board that she is the leader that the institution needs, Reuters said on September 25.

Kristalina Georgieva is the EU’s candidate to head the IMF. She has been backed by France and has had tacit backing from the United States.

Georgieva becomes the first person from an emerging economy to head the $1 trillion-asset global lender and the second woman to head the institution after Christine Lagarde.

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In 2017, Georgieva was appointed the chief executive of the World Bank, which is the second-most senior position at the organisation. She served as EU budget commissioner from 2014 to 2016, and EU commissioner for international cooperation and development from 2010 to 2014.