World Bank’s Georgieva poised to become IMF chief

Published September 10, 2019
Georgieva will replace former IMF chief Christine Lagarde, who has been named to lead the European Central Bank. — AFP/File
Georgieva will replace former IMF chief Christine Lagarde, who has been named to lead the European Central Bank. — AFP/File

WASHINGTON: A top executive at the World Bank, Kristalina Georgieva of Bulgaria, now faces no opposition in her candidacy to lead the International Monetary Fund, the fund announced on Monday.

Georgieva, currently the bank’s chief executive officer, is all but guaranteed to become the second woman ever to lead the fund.

Georgieva will replace former IMF chief Christine Lagarde, who has been named to lead the European Central Bank.

“The board’s goal is to complete the selection process as soon as possible and at the latest by Oct 4,” the IMF board said in a statement.

Under an unwritten rule, a European has always led the IMF since its creation in the aftermath of World War II while Washington has designated the leadership of the fund’s sister organisation, the World Bank.

Published in Dawn, September 10th, 2019

Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Noon leaks
Updated 27 Sep, 2022

Noon leaks

PMO audio leaks are a national security emergency that ought to be investigated at the highest level.
Cipher probe offer
27 Sep, 2022

Cipher probe offer

CONSIDERING the toxic political polarisation in the country, former prime minister Imran Khan’s suggestion that ...
Delaying Doha plans
27 Sep, 2022

Delaying Doha plans

WHEN Doha announced its intention to spend $3bn in different commercial and investment sectors of Pakistan around a...
Debt deferment
Updated 26 Sep, 2022

Debt deferment

Pakistan’s dollar funding needs for next 5 years have never been so large and world’s appetite to hold its hands never so poor.
Dengue concerns
26 Sep, 2022

Dengue concerns

AS weather conditions change in Pakistan, the threat of dengue looms large over the land. According to a warning...
Relic of colonialism
26 Sep, 2022

Relic of colonialism

THE law on sedition, one of several holdovers of colonial times, is among the most handy instruments for controlling...