Kristalina Georgieva re-elected as IMF chief

Kristalina Georgieva was re-elected as the head of the International Monetary Fund (IMF).

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In a statement made by the IMF, it was reported that the Board of Executive Directors elected Georgieva to serve as IMF president for the second 5-year term as of October 1.

The decision was unanimous, the statement said, recognizing Georgieva’s “strong and agile” leadership in dealing with a series of major global shocks during her tenure.

The statement said the board focused on strengthening Georgieva’s support to the fund’s members through effective policy advice, capacity building and financing.

Georgieva, in her statement after her re-election as IMF president, said that she was honored to continue her presidency for a second 5-year term.

Pointing out that in recent years, the IMF has helped member countries cope with successive shocks, including pandemics, wars and conflicts, and the cost of living crisis, Georgieva said that in parallel with its increasing importance in terms of macroeconomic and financial stability, growth and employment, it has also accelerated its work on climate change, fragility and conflict, and digital transformation.

Georgieva said that the IMF’s financial support, policy advice and capacity-building work contributed to the capacity of countries to cope with high uncertainty and sudden changes in economic conditions, and that they will continue to strive to create a more “effective, sharp and sincere” environment for countries to come together to tackle global challenges.

Georgieva, a Bulgarian citizen, has been IMF president since 2019.

Georgieva previously held various positions at the World Bank and the European Commission.

Georgieva, whose five-year term expires on September 30, was the only candidate in the process of selecting the next president of the fund.



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