World Bank’s Georgieva Becomes First IMF Chief From Emerging Economy
Bulgarian economist Kristalina Georgieva was confirmed on Wednesday as managing director of the International Monetary Fund, becoming the first head of the $1 trillion-asset global lender from an emerging market economy.
A center-right politician who grew up in Bulgaria under Communism, Georgieva built a reputation during her time at the World Bank – where she has been on a leave of absence from her post as chief executive officer during the IMF nomination process – and the European Commission as a tenacious straight-shooter, champion of gender equality and leader in the global fight against climate change.
She will face a host of challenges as the head of the IMF, the world’s crisis lender, including a global economic slowdown triggered by escalating trade tensions between the United States and China.
Photo courtesy of European External Action Service.