Kristalina Georgieva of Bulgaria, the Chief Executive Officer of the World Bank, is all set to become the second chief of the International Monetary Fund (IMF). Georgieva’s faced no opposition in her candidacy for the post.
On Thursday, 5th September, the IMF formally revoked the 65-year age limit for its leadership. The nominating period ended on 6th September, Friday, a day after this amendment was made.
The 66-year-old Georgieva will replace Christine Lagarde of France, who will lead the European Central Bank. Lagarde was the first female to head the IMF.
Who is Kristalina Georgieva?
Born in Sofia, Bulgaria on 13 August 1953, Kristalina Georgieva is a world-renowned economist. She holds an M.A in Political Economy and Sociology and a Ph. D in Economic Science.
She has worked with the World Bank from 1993, holding several illustrious positions. She started off as an Environmental Economist and rose to the position of Director for Environment and Social Development for East Asia and Pacific Region. She has also served as the Director in charge of environmental strategy, policies and lending, and Director for Sustainable Development in charge of policy and lending operations in infrastructure, urb.an development, agriculture, environment and social development, including support to fragile and conflict-affected countries.
She served as the interim President of the World Bank Group from 1st February 2019 to 8th April 2019.
What is the International Monetary Fund?
Created in 1945, the International Monetary Fund (IMF) is an organization that consists of 189 nations across the world. It works to “foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.”
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