Georgieva’s second term will begin on October 1, 2024. She first took up this post on October 1, 2019.
The current head of the International Monetary Fund (IMF), Kristallina Georgieva, has been re-elected for a second five-year term. The press service of the organization reported this on Friday, April 12.
He is the only candidate for the position of managing director of the fund. The IMF Executive Board decided on his re-election by consensus.
“I am deeply grateful for the trust and support of the Fund’s Executive Board, which represents our 190 members, and it is a great honor for me to continue to lead the IMF,” commented the head of the organization on his re-election.
Kristallina Georgieva is a citizen of Bulgaria. He was born in 1953 in Sofia. He graduated from the Institute of Economics and defended his doctoral dissertation in the USA, and improved his qualifications in London, Canberra and Harvard.
Since 1993, Georgieva began working at the World Bank. He served in the European Commission as Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, and as Vice President for Budget and Human Resources.
In 2016, Georgieva was nominated for the post of UN Secretary General, but the post was later taken by António Guerres.
Since January 2017, he has served as the Director General of the World Bank. From February 1, 2019 to April 8, 2019, he was the interim president of the organization.
Kristallina Georgieva was instrumental in securing large loans for Ukraine, helping to mobilize additional funds to help the economy cope with the hardships of two years of war.
Ukraine received the fourth tranche from the IMF in the amount of about $880 million under the Extended Fund Facility (EFF) program.
Let’s recall that on March 21, the IMF Board of Directors approved the allocation of the fourth tranche to Ukraine in the amount of approximately $880 million under the Extended Financing Program (EFF). This money will cover critical budget expenditures and also help maintain macro-financial stability.
As reported, on December 14, 2023, Ukraine received $900 million from the IMF. This is the third tranche under the current EFF program.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.