The European Union unanimously supported Georgieva's candidacy for a second term as IMF chief

EU finance ministers support Kristalina Georgieva for a second five-year term as head of the International Monetary Fund. This was stated by Belgian Finance Minister Vincent Van Petegem, Bloomberg reports, according to UNN.

Details

Van Petegem told reporters in Brussels that the support was unanimous among EU member states.

Last Friday, Kristalina Georgieva expressed her willingness to lead the IMF for a second term if she received sufficient support from members. Today I am very pleased to announce that all European member states have in fact expressed such support,

Georgieva's current five-year term expires in September. The decision seemed likely after the financial leaders of the bloc's two largest economies, Germany and France, expressed their support.

I think that Kristalina has shown strong leadership in the last few years, especially during unprecedented crises, and that she has also provided support to all members,

For reference

The IMF Managing Director is formally appointed by the institution's 24-member Board of Directors, which is elected by member countries. Europeans usually choose the head of the IMF, while the United States can decide who will lead the World Bank. Both institutions are based in Washington, DC.

Recall

International Monetary Fund Managing Director Kristalina Georgieva is interested in remaining for a second five-year term at the helm of the IMF. She is ready to secure sufficient support among member countries.