The International Monetary Fund (IMF) has announced that Bulgarian Kristalina Georgieva will lead the organization for a second term as Managing Director. Georgieva, 70, has been at the helm of the IMF since 2019 and her current term ends in the fall. She was the sole candidate in the selection process, a tradition where Europeans typically hold the top position at the IMF, while Americans lead the World Bank.
Georgieva is the second woman to head the IMF, following in the footsteps of her predecessor Christine Lagarde, who is now the President of the European Central Bank. Before becoming Managing Director at the IMF, Georgieva was responsible for humanitarian aid in Brussels and later served as the Vice President of the Commission for Budget and Personnel.
The European Union supported Georgieva’s bid for a second term in office, citing her previous experience at the World Bank and as an EU commissioner. The IMF plays a crucial role in preventing major currency fluctuations that could lead to political instability. As a global organization, it works to ensure financial stability and economic cooperation among member countries.
