On March 13, the International Monetary Fund’s Board of Directors announced that it plans to complete the process of appointing a new Managing Director by the end of April 2024.
Kristalina Georgieva, the current Executive Director of the International Monetary Fund, serves a five-year term that ends on September 30.
Georgieva (70), the International Monetary Fund’s 12th managing director since its inception in 1944, stated last week that she would be proud to spend a second term as head of the agency.
Last Tuesday, the European Union finance ministers agreed to give Georgieva a second term. European countries usually suggest the Managing Director of the International Monetary Fund, whereas the US recommends the President of the World Bank.
The IMF released a statement: The Executive Board stresses the importance it attaches to the successful candidate with the global standing required to lead the Fund, located at the heart of the global financial system.
In its statement, the IMF Board of Directors said it aims to reach a consensus decision on the next managing director.
