World Bank’s Kristalina Georgieva ascends to the helm at IMF

September 26, 2019 in Financial Services, Foreign News by Editor

Bulgarian Kristalina Georgieva has been selected as President and chief executive of the International Monetary Fund, replacing Christine Lagarde who has moved to Chair the European Central Bank.

Kristalina’s departure was announced by World Bank President David Malpass in a memo to staff yesterday.

“Kristalina informed me that she has been offered the role of Managing Director of the International Monetary Fund and that she has accepted that offer. This is a loss for the World Bank but great news for the IMF and the world. Please join me in congratulating her,” Malpass said in the memo.

Kristalina who has been the World Bank’s Chief Executive Officer, is a graduate of political economy and sociology from the Karl Marx Higher Institute of Economics in Sofia, Bulgaria. Her appointment is effective October 1.