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International Monetary Fund: Kristalina Georgieva confirmed for second term as IMF head

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International Monetary Fund: Kristalina Georgieva confirmed for second term as IMF head

Bulgarian Kristalina Georgieva will continue to lead the International Monetary Fund (IMF). The fund in the US capital Washington, DC, confirmed the second term of its managing director. “I am honored to lead the IMF for a second five-year term as Managing Director,” Georgieva said. She has been at the helm of the organization since 2019.

Georgieva is only the second woman to take over the leadership of the IMF. Her predecessor Christine Lagarde, the current president of the European Central Bank, was the first woman to hold the post.

Traditionally, the Europeans hold the top positions at the IMF, while the Americans head the World Bank – an arrangement that is increasingly attracting criticism. Germany and the EU countries had supported a second term in office for Georgia.

Georgieva was previously an EU commissioner

Georgieva was the only candidate in the selection process. The head of the IMF is appointed by its Executive Board, which is made up of representatives from the 190 member states. The IMF is a specialized agency of the United Nations, which, according to the
Federal Agency for Civic Education is responsible for strengthening international cooperation in monetary policy.

The IMF was founded together with the World Bank after the end of the Second World War. The committee is supposed to ensure that no major currency turbulences arise and lead to political imponderables.

Before her time at the IMF, Georgieva worked for the World Bank and was an EU commissioner. In Brussels she was responsible for humanitarian aid from 2010 to 2014. Then she became Vice President of the Commission for Budget and Personnel.

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Bulgarian Kristalina Georgieva will continue to lead the International Monetary Fund (IMF). The fund in the US capital Washington, DC, confirmed the second term of its managing director. “I am honored to lead the IMF for a second five-year term as Managing Director,” Georgieva said. She has been at the helm of the organization since 2019.

Georgieva is only the second woman to take over the leadership of the IMF. Her predecessor Christine Lagarde, the current president of the European Central Bank, was the first woman to hold the post.

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