The Executive Board of the International Monetary Fund (IMF) has announced that it has reappointed Kristalina Georgieva for a second five-year term at the head of the international financial institution.
This means Georgieva, who was the only candidate in the race to head the International Monetary Fund, will remain in office when her current term ends on September 30, 2024.
The decision was made by consensus, the IMF said in a statement confirming the board’s decision, reports Al Jazeera.
“I am deeply grateful for the trust and support of the Fund’s Executive Board, which represents our 190 members, and I am honored to continue to lead the IMF as Executive Director,” said Georgieva.
“I look forward to continuing to serve our membership, along with the highly professional and dedicated IMF staff,” she added.
Georgieva, a 70-year-old Bulgarian, has been leading the IMF since 2019.
During her tenure, the IMF helped countries that faced financial difficulties during the coronavirus pandemic and the consequences caused by the Russian invasion of Ukraine, especially in Europe.
Under a controversial, decades-old agreement between Europe and the United States, the International Monetary Fund has historically been headed by a European and the World Bank by an American.
