IMF CONFIRMS KRISTALINA GEORGIEVA FOR SECOND 5-YEAR TERM

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The executive board of the International Monetary Fund IMF on Friday confirmed that it had reappointed Kristalina Georgieva as Managing Director to serve for a second five-year term at the international financial institution.

In a statement confirming the appointment, the board said the decision was taken by consensus which means that Georgieva, who was the sole candidate will continue in office when her current term ends on September 30, 2024.

Georgievasaid in a statement that she was deeply grateful for the trust and support of the Fund’s Executive Board, representing 190 members, and honored to continue to lead the IMF as Managing Director.

Georgieva, a 70-year-old Bulgarian, has run the IMF since 2019, and told the media last month that she was making herself available to serve, if people want her to serve.

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During her tenure, the IMF has helped countries facing financial difficulties during the coronavirus pandemic as well as the havoc brought about by Russia’s invasion of Ukraine, especially in Europe.

Georgieva faced allegations in 2021 — which she strongly denied — that she had been involved in amending a popular World Bank business report in order to favor China when she worked at the development lender.

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