Kristalina Georgieva elected as IMF Managing Director for a second term
Kyiv • UNN
Christalina Georgieva was unanimously confirmed for a second five-year term as IMF Managing Director, beginning October 1, 2024, and was praised for her effective leadership during global challenges.
The Executive Board of the International Monetary Fund has unanimously endorsed the election of Kristalina Georgieva for a second five-year term as Managing Director, which will begin on October 1, 2024. Written by UNN with reference to the IMF.
In accordance with the procedure established on March 13, 2024, the Board held several meetings, during which, in particular, they discussed the candidacy of Ms. Georgieva, who was the only candidate for the position.
The IMF Board praised the effective leadership of Kristalina Georgieva, who has successfully steered the Fund through global challenges. Under her leadership, the IMF has approved more than $360 billion in new financing since the start of the pandemic for 97 countries, eased debt service for the poorest members, introduced new financial mechanisms, and increased stock quotas. An important achievement was the introduction of the third representative of sub-Saharan Africa to the IMF Board of Directors.
"Looking to the future, the Supervisory Board welcomes Ms. Georgieva's continued focus on macroeconomic and financial stability, and ensuring that the Fund continues to adapt and evolve to meet the needs of all its members. It recognizes her focus on strengthening the Fund's support to its members through effective policy advice, capacity building and financing. The Supervisory Board looks forward to continuing to work closely with the Managing Director," the statement reads.
Recall
The IMF has recognized Ukraine's debt as sustainable and does not plan to restructure or write off debts to the IMF, as the debt restructuring perimeter does not include multilateral debts.
