The Executive Board of the International Monetary Fund (IMF) on Friday selected Kristalina Georgieva to serve as IMF Managing Director for a second five-year term starting on October 1, 2024.
"The Board’s decision was taken by consensus," the IMF said in a release, adding that "in taking this decision, the Board commended Ms. Georgieva’s strong and agile leadership during her term, navigating a series of major global shocks."
"Ms. Georgieva led the IMF’s unprecedented response to these shocks, including the approval of more than $360 billion in new financing since the start of the pandemic for 97 countries, debt service relief to the Fund’s poorest, most vulnerable members, and a historic Special Drawing Rights (SDR) allocation equivalent to $650 billion," it added.
Bulgaria's Georgieva serves as Managing Director of the Washington-based financial institution since October 1, 2019.
Before joining the IMF, Ms. Georgieva was CEO of the World Bank from January 2017 to September 2019, during which time she also served as Interim President of the World Bank Group for three months.
Previously, Ms. Georgieva served as European Commission Vice President for Budget and Human Resources as well as Commissioner for International Cooperation, Humanitarian Aid and Crisis Response.
"I am deeply grateful for the trust and support of the Fund’s Executive Board, representing our 190 members, and honored to continue to lead the IMF as Managing Director for a second five-year term," Georgieva said in a release.
