Born in Bulgaria in the Communist era and with a right-centred political position, Georgiyeva has built up a reputation during her tenure in the World Bank and the Executive Committee of the European Union. She is frank, outspoken, and advocates gender equality. She is a leader in the fight against global climate change. She was previously CEO of the World Bank and is currently leaving the position because of the IMF's nomination process.
As president of the IMF, Georgiyeva will face a series of challenges, including the global economic slowdown caused by the escalation of trade tensions between the United States and China; the IMF is a global crisis relief lending agency with a $1 trillion silver bullet.
In addition, the United States, which has the largest voting power on the IMF board, has withdrawn from multilateral agreements, while risks to emerging markets such as Argentina have risen; Argentina received up to $57 billion in IMF aid last year, the largest bailout in IMF history.
The IMF Executive Board met with 65-year-old Georgieva on Tuesday and will vote on her nomination on Wednesday. At present, Georgiyeva is the only nominee for the position.
The vote was basically a passing vote. Georgieva, supported by French President Mark Long, also won the support of other European Union countries last month, as well as the acquiescence of the United States.
A source on the IMF board told Reuters that Georgieva was ready to take the job. "She has convinced the board that she is the leader the IMF needs and will strongly advocate the multilateral system," the source said. The person asked for anonymity because the board's discussions were not public.
Hot Model No.: