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IMF Board elects Kristalina Georgieva as new MD

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Kristalina Georgieva

The International Monetary Fund (IMF) gets a new Managing Director following the election of Kristalina Georgieva on September 25, 2019.

In a press release copied to ghanabusinessnews.com, the IMF says she takes the position on October 1, 2019.

Ms Georgieva replaces Ms Chrisitine Lagarde who tendered in her resignation in July 2019 to take effect on September 12, 2019. Ms Lagarde resigned to pursue the position of Chair of the European Central Bank.

According to the IMF, before joining the Fund, Ms. Georgieva was CEO of the World Bank from January 2017 to September 2019, during which time she also served as Interim President of the World Bank Group for three months.

Previously, Ms. Georgieva helped shape the agenda of the European Union. She served

as European Commission Vice President for Budget and Human Resources, overseeing

the EU’s €161 billion ($175 billion) budget and 33,000 staff.

In that capacity, she was deeply involved in efforts to address the Euro Area debt crisis and the 2015 refugee crisis. Before that, she was Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, managing one of the world’s largest humanitarian aid budgets.

Prior to joining the European Commission, Ms. Georgieva worked for 17 years at the World Bank, culminating in her appointment as Vice President and Corporate Secretary in 2008. In this role, she served as the interlocutor between the World Bank Group’s senior management, its Board of Directors, and its shareholder countries.

She held a number of other senior positions, including World Bank Director for Sustainable Development, World Bank Director for the Russian Federation, based in Moscow, World Bank Director for Environment, and Director for Environment and Social Development for the East Asia and Pacific Region. She joined the World Bank as an environmental economist in 1993.

Ms. Georgieva serves on many international panels including as co-Chair of the Global Commission on Adaptation to climate change, and as co-chair of the United Nations Secretary-General’s High-Level Panel on Humanitarian Financing. She has authored and co-authored over 100 publications on environmental and economic policy topics, including textbooks on macro-and microeconomics.

Born in Sofia, Bulgaria, in 1953, Ms. Georgieva holds a PhD in Economic Science and a MA in Political Economy and Sociology from the University of National and World Economy, Sofia, where she was an Associate Professor between 1977 and 1993. During her academic career, she was visiting fellow at the London School of Economics and at the Massachusetts Institute of Technology.

In 2010, she was named “European of the Year” and “Commissioner of the Year” by European Voice for her leadership in the EU’s humanitarian response to crises.

By Emmanuel K. Dogbevi

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