Kristalina Georgieva to serve second term as IMF managing director
Time:2024-05-21 11:12:28 Source:politicsViews(143)
WASHINGTON, April 12 (Xinhua) -- 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 Oct. 1, 2024.
The board's decision was taken by consensus, according to a statement by the coordinators of the Executive Board, Afonso S. Bevilaqua and Abdullah F. BinZarah.
The decision was made roughly a week after the coordinators announced that Georgieva, the IMF's current managing director, is the only candidate for the position.
"In taking this decision, the Board commended Ms. Georgieva's strong and agile leadership during her term, navigating a series of major global shocks," the statement said.
Georgieva led the IMF's unprecedented response to these shocks, including the approval of more than 360 billion U.S. dollars 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 dollars, the statement noted.
Under her leadership, the Fund introduced innovative new financing facilities, including the Resilience and Sustainability Facility and the Food Shock Window.
It also secured a 50 percent quota increase to bolster the Fund's permanent resources and agreed to add a third Sub-Saharan African chair to the IMF Board.
"Looking ahead, the Board welcomes Ms. Georgieva's ongoing emphasis on issues of macroeconomic and financial stability, while also ensuring that the Fund continues to adapt and evolve to meet the needs of its entire membership," the statement read.
Georgieva, a national of Bulgaria, has been the IMF's managing director since Oct. 1, 2019.
Before joining the Fund, Georgieva was chief executive officer 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.
She previously served at the European Commission as Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, and as vice president for Budget and Human Resources. ■
Previous:Children are evacuated from school 'during an exam' after threat made via email
Next:Verona confirms Serie A status for another year after beating Salernitana
You may also like
- A warrant for Netanyahu’s arrest was requested. But no decision was made about whether to issue it
- China releases reports on budgets, national economic and social development plans
- North America witnesses total solar eclipse
- MPs are urged to finally pass the Rwanda bill after 535 migrants cross the Channel on Sunday
- Target to lower prices on basic goods in response to inflation
- Death toll in Italy's power plant explosion rises to 5
- Inside the lab where volunteers are paid £14,000 to lie upside down for 60 days NON
- Raymond scores late in 3rd and OT to keep Red Wings playoffs alive with 5
- Insider Q&A: CIA's chief technologist's cautious embrace of generative AI