IMF approves Kristalina Georgieva as new head
By Wu Lejun
People's Daily app
1569440631000

georgieva (ap).jpg

(Photo: AP)

Washington (People’s Daily) -- The International Monetary Fund has formally approved Bulgarian economist Kristalina Georgieva to be its next leader.

The IMF’s board of executive directors on Wednesday voted to select Georgieva for the role, effective Oct. 1.

Georgieva, who served as the No. 2 official at the World Bank, will take over from Christine Lagarde, who has been selected as the next president of the European Central Bank.

“It is a huge responsibility to be at the helm of the IMF at a time when global economic growth continues to disappoint, trade tensions persist, and debt is at historically high levels,” Georgieva said in a statement.

Georgieva is the first IMF chief to come from an emerging economy. She was backed by French President Emmanuel Macron, won support from the rest of the European Union last month, and also had tacit backing from the United States.