One of the prides of Bulgaria in the world business gave clarity about its future.
IMF chief Kristalina Georgieva said she would be “honoured” to lead the Washington-based financial institution for a second five-year term if re-nominated by member countries. “I have received words of support for the work of the IMF from many of our members in recent weeks,” 70-year-old Georgieva wrote in a statement on the X social network, BGNES reports.
“If the broader membership agrees, I would be honored to continue as managing director of the IMF,” she added. There has been speculation in recent months whether Georgieva, a Bulgarian economist, might run again after her current term expires on September 30.
Since she took office in 2019, the IMF has intervened repeatedly to support countries facing significant financial difficulties due to the COVID-19 pandemic and the economic impact of Russia’s invasion of Ukraine.
According to the unwritten agreement between Europe and the United States, the International Monetary Fund has historically always been headed by a European and the World Bank by an American.
That arrangement was reaffirmed last year when the Biden administration nominated Ajay Banga, an Indian-born, naturalized US citizen, to run the World Bank, which sits just across the street from the IMF in Washington.
Georgieva has received support from key European allies in recent weeks, including French Finance Minister Bruno Le Maire, who said on the sidelines of the G20 in Brazil that she was doing a “great job” running the IMF, according to AFP.
Earlier today, the governor of the Bulgarian National Bank, Dimitar Radev, said in a statement that he had spoken with Georgieva about applying for a second term. “I am happy to report that she has confirmed that she would be honored to do so as long as she has the support of IMF members,” Radev added.
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