International Monetary Fund Managing Director Kristalina Georgieva is interested in staying on for a second five-year term at the helm of the IMF. She is ready to secure sufficient support among member countries. This was reported by Reuters, according to UNN.
Details
It is noted that last week Georgieva received the support of French Finance Minister Bruno Le Maire, who told reporters during the G20 meeting on financial issues in Sao Paulo that Georgieva was able to do "excellent work" as head of the organization, and France would support her for a second term.
Le Maire's support is crucial for Georgieva's appointment for a second term, given that European countries traditionally nominate a candidate for the IMF head, although all EU members must agree. The final decision is to be made by the institution's board of directors.
Last week, Georgieva said she was focused on her job and not on whether to run for a new term.Georgieva's term expires on September 30, and sources familiar with the IMF appointment process say the choice will be decided quickly once Europe unites around a candidate.
Although Georgieva's term will expire in a few more months, some people familiar with the matter believe that it makes sense to make a decision before the spring meetings of the IMF and World Bank, which will take place on April 15-20, so that the leadership issue does not overshadow an already busy agenda.
Addendum
Bulgarian economist Georgieva is the second woman to head the IMF and the first person from an emerging market economy.
A self-described "eternal optimist," Georgieva has weathered enormous upheaval in the global economy, from the outbreak of the COVID-19 pandemic just months after she took office to the Russian invasion of Ukraine in February 2022.
It focuses on strengthening medium-term growth prospects, which are lagging behind historical levels, addressing current sovereign debt issues, and guiding the IMF through a complex quota modernization.
Recall
Last December, President Zelenskyy met with IMF chief Kristalina Georgieva, thanking her for her support in the face of Russian aggression and discussing Ukraine's strong economic performance. The IMF forecasts GDP growth of 4.5% and approved a $15.6 billion financing program, with a recent tranche for Ukraine of $900 million.