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RTRS-Georgieva Would Be 'Honoured' To Serve Second Term As MD

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Speaking to Reuters, International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said that she would be 'honoured' to serve a second five-year term in office, with her current term expiring on 30 Sept. Having won the backing of France last week, Bloomberg reports that Germany is also set to offer their support to the Bulgarian economist.

  • Garnering support of EU member states is crucial. While the IMF's Board of Governors makes the official decision on leadership, the post-war consensus is that European leaders pick the head of the IMF, while the US selects the leader of the World Bank. With France and Germany supportive of Georgieva, a sign-off on her re-nomination at the ECOFIN meeting of finance ministers in Brussels on 12 March appears likely.
  • Reuters reports that Georgieva's, "biggest priorities for a second term would be to bolster prospects for medium-term growth,[...]managing the ongoing sovereign debt challenges, and guiding the IMF through a complicated quota revamp that boosts the process of representation."
  • Georgieva: "The way I see the years ahead, we have to be in a position of more agility in policies and the capacity of countries to withstand these more frequent shocks, keeping them together, keeping them cooperating, and yet recognizing ... that geopolitics plays a big role in economics,"
  • Georgieva's position as the first IMF MD from an emerging market is likely to bolster her position. Over the longer term through, the IMF and EU could find itself under greater pressure to widen the pool to include candidates from the 'Global South'.
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Speaking to Reuters, International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said that she would be 'honoured' to serve a second five-year term in office, with her current term expiring on 30 Sept. Having won the backing of France last week, Bloomberg reports that Germany is also set to offer their support to the Bulgarian economist.

  • Garnering support of EU member states is crucial. While the IMF's Board of Governors makes the official decision on leadership, the post-war consensus is that European leaders pick the head of the IMF, while the US selects the leader of the World Bank. With France and Germany supportive of Georgieva, a sign-off on her re-nomination at the ECOFIN meeting of finance ministers in Brussels on 12 March appears likely.
  • Reuters reports that Georgieva's, "biggest priorities for a second term would be to bolster prospects for medium-term growth,[...]managing the ongoing sovereign debt challenges, and guiding the IMF through a complicated quota revamp that boosts the process of representation."
  • Georgieva: "The way I see the years ahead, we have to be in a position of more agility in policies and the capacity of countries to withstand these more frequent shocks, keeping them together, keeping them cooperating, and yet recognizing ... that geopolitics plays a big role in economics,"
  • Georgieva's position as the first IMF MD from an emerging market is likely to bolster her position. Over the longer term through, the IMF and EU could find itself under greater pressure to widen the pool to include candidates from the 'Global South'.