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Bulgarian economist to replace Lagarde in IMF presidency

by Ace Damon
Bulgarian economist to replace Lagarde in IMF presidency

Bulgarian economist Kristalina Georgieva has been chosen as the next managing director of the IMF (International Monetary Fund), replacing the French Christine Lagarde, who will become president of the ECB (European Central Bank).

Georgieva is the first person born in an emerging country to head the IMF since its founding in 1944.

She was selected following a process initiated by the Fund's Executive Board on July 26. The committee has 24 members, representing the 189 countries associated with the IMF. The inauguration is scheduled for October 1st.

Georgieva has been Executive Director of the World Bank since January 2017. Between February and April, she held the position of President of the World Bank Group. Previously, he was a member of the European Commission.

The Bulgarian has a Ph.D. in economic science and a master's degree in political economy and sociology from the University of World and National Economics in Sofia, the capital of Bulgaria. She was a teacher at the institution from 1977 to 1991.

In a statement, Georgieva stated that the IMF has never been so important to the world economy. "It is a huge responsibility to be the IMF leader at a time when world economic growth continues to disappoint, trade tensions persist and debt levels are at historically high levels. Our immediate priority is to help countries minimize the risk of crisis and deal with the headwinds, "he said.

(tagsToTranslate) christine lagarde (t) kristalina georgieva (t) fmi

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