Kristalina Georgieva to serve second term as IMF managing director
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. ■
Related articles
- LOS ANGELES (AP) — Shohei Ohtani’s first walk-off hit for the Los Angeles Dodgers was also his first2024-05-21
Foreigners make nearly 3M inbound, outbound trips to China in Jan
Border police officers check documents of travelers at a border checkpoint of the Shanghai Pudong In2024-05-21Tadej Pogačar is starting his first Giro d'Italia as the overwhelming favorite
MILAN (AP) — Rarely has the Giro d’Italia had such an overwhelming pre-race favorite.Tadej Pogačar i2024-05-21- During a ceremony at the Kigali Genocide Memorial on April 7, Rwandan President Paul Kagame and Firs2024-05-21
Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
CAIRO (AP) — Human rights experts working for the United Nations on Monday urged Yemen’s Houthi rebe2024-05-21Frat boys at UNC Chapel Hill surround American flag in protection as pro Palestine mob runs wild
Patriotic frat boys valiantly protected an American flag on the campus of the University of North Ca2024-05-21
atest comment