Two years later, the Board of Directors reaffirmed “its full confidence” after a internal investigation into accusations of manipulating data in a report known as “Doing Business” in favor of China when she was number two in the World Bank (WB), which she flatly denies.
“The Board concluded that the information presented during its review did not conclusively demonstrate that the CEO played an inappropriate role with respect to the Doing Business 2018 report, when she was CEO of the World Bank,” according to the press release.
She was the sole candidate for the position in the Fund, traditionally governed by a European while the World Bank remains in the hands of an American, according to a cast inherited from the Bretton Woods conferences after World War II.
The IMF had to change its statutes to be able to appoint her, as Georgieva exceeded the age limit for the position, which was then 65 years old.
Until then, most of her career was spent at the World Bank, where she became CEO in 2017.
A native of Sofia, where she taught economics for 26 years, she worked mainly in the environmental area, sustainable development and agricultural issues.
At the IMF, she has made the fight against inequality, the integration of women into the economy and the fight against climate change her top priorities.
Two years ago, when he took the reins of the IMF, the world economy was weakened by trade tensions between the United States and China.
But he could not imagine that a few months later, the planet would fall, as a result of the coronavirus, in a historic global recession.
Described by her supporters as one of the “most upright” people, she also did not imagine being the target of serious accusations.
“It was a difficult episode on a personal level”Georgieva said Monday.
According to Joseph Stiglitz, winner of the Nobel Prize in Economics, in support of the Bulgarian, she is “a bold leader who knew how to face the economic impacts of the pandemic and position the Fund as a world pioneer in (the fight against) climate change” .
Other economists had added that he managed to increase reserves to help the most vulnerable countries during the pandemic.
Jeffrey Sachs, director of the Center for Sustainable Development at Columbia University, said in the Financial Times that Georgieva was at risk of being a victim of “anti-Beijing hysteria”, an allusion to the fact that Washington accuses China of interfering in the international institutions.
Before passing through the Washington institutions, Georgieva was the European Commissioner in charge of humanitarian aid between 2010 and 2014. And between 2015 and 2016, she was Vice-President of the Juncker Commission in charge of budget and human resources.
She has a reputation as an energetic and tenacious high official, with a tough character if she defends a cause “that matters a lot to her,” commented a diplomat about her first visit to European institutions.
In 2016, this woman known for her ability to achieve consensus, was an unexpected finalist in the election to the post of secretary general of the United Nations (UN), which was ultimately won by the Portuguese Antonio Guterres.
His father, Ivan, was a road construction technician in communist Bulgaria where Kristalina Georgieva was born on August 13, 1953, the year of Stalin’s death.
Georgieva, a good student as a child, is fluent in Russian and has good relationships in Moscow, where she spent a few years as Russia’s director for the World Bank, between 2004 and 2007.
Mother of a son, she never held elective positions in her country, which she often cites.
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