IMF MD selected for 2nd term

The International Monetary Fund’s executive board selected Bulgarian economist Kristalina Georgieva to serve as managing director for a second five-year term, starting on Oct. 1 this year.

“The Board commended Ms. Georgieva’s strong and agile leadership during her term, navigating a series of major global shocks,” it said in a statement. Georgieva had been the only candidate for the job.

Last month, EU finance ministers endorsed Georgieva for a second term at the lender’s last resort’s helm, virtually assuring her approval.

Traditionally, European countries have recommended the managing director of the IMF, and the US has recommended the head of the World Bank.

Georgieva said she was grateful to the board and honored to be selected for a second term.

She looked forward to continuing to work with the IMF’s “exceptional” staff.