Daily Management Review

IMF: Georgieva is the only candidate to replace Lagarde


The Executive Board of the International Monetary Fund (IMF) will complete the process of agreeing on a single candidate from the European Union, Kristalina Georgieva, to head the fund until October 4, reads the organization’s statement.

Friends of Europe
Friends of Europe
Georgieva is the only candidate with whom meetings of the members of the executive board are planned for election, the document specifies.

"The deadline for submitting candidates for the next managing director’s position ended on Friday, September 6. Currently, the main and only candidate, Ms. Kristalina Georgieva, the World Bank’s executive director and Bulgarian citizen, has confirmed readiness to be considered as a candidate," the report says.

“Now the council will act in accordance with the process described in the decision of July 26, which includes holding meetings between the candidate and the executive directors. The purpose of the council is to complete the selection process as soon as possible, no later than October 4, 2019,” the fund concludes.

Georgieva’s victory is almost guaranteed, because the EU de facto controls appointment of Head of the IMF. The US traditionally nominates Head of the World Bank.

source: imf.org