About to expire her five-year term at the head of the bank of last resort, the Bulgarian economist hints at her interest in renewing her position in the organization’s top chair.
On the global stage of the international economy, the figure of Kristalina Georgieva with the possibility of a second term five years old Managing Director of the International Monetary Fund (IMF). His interest in continuing to lead this institution, which plays a crucial role in the economic stability of Argentina, is beginning to take shape, according to the agency. Bloomberg.
The Bulgarian economist began her mandate in 2019, which will end at the end of September, so she is already seeking the support of the main European nations and the United States. to ensure the success of an eventual offer. Anonymous sources cited by the aforementioned agency maintain that his search for a second term already has the support of France and Germany, two of the largest economic powers on the old continent.
It should be remembered that the main chair of the IMF has always been occupied by a European citizen. Bloomberg assures that in the meetings of finance ministers of the Group of 20 in Brazil, the possibility of a second term for Georgieva was raised, who gained the support of the French Finance Minister, Bruno Le Maire, who praised the performance of the Bulgarian and expressed his country’s support for the possibility of a second term.
What Georgieva said
Despite the speculation, Georgieva dodged questions about her intentions, focusing on her current mandate. IMF spokesperson Julie Kozack noted that the election of the leader is governed by IMF rules, with the goal of reaching a selection by consensus among the 24 members of the fund’s Executive Board.
In accordance with the IMF Statutes, the appointment of Managing Director is for a term of five years, with the possibility of renewal for an equal or shorter period.
The support of the United States, with the greatest voting rights in the background, has been questioned following accusations in 2021 of undue influence on a World Bank ranking of the business climate in China. The IMF and its counterpart, the World Bank, emerged as fundamental players in the post-World War II global financial order.
Georgieva, 70, joined the fund’s efforts during the pandemic to assist indebted countries and recently warned about the global economic impact of growing trade fragmentation between the United States and China. Although she has not made public her intentions beyond her current term, the lack of proposed candidates suggests that the decision is up for grabs.
With a new round of negotiations for senior positions in the European Union at the end of the year, the balance of political, geographical and strategic interests will be crucial. Although the IMF executive board chooses the leader by vote, the combined support of Europe and the United States would make it difficult for other candidates to overtake Georgieva.
Source: Ambito
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