In recent news, it has been reported that the current Director-General of the International Monetary Fund (IMF), Kristalina Georgieva, is set to lead the organization for another five-year term. Georgieva, who took over from Christine Lagarde in 2019, has been confirmed as the sole candidate for the position. The IMF will proceed with the selection process, which includes a meeting between Georgieva and the board of directors.
According to sources, the decision to renew Georgieva’s mandate could be made in the coming days, possibly before the traditional spring meeting of the IMF and World Bank scheduled for April 15-19. While it has been customary for a European to lead the IMF and an American to lead the World Bank, there are growing challenges to this tradition from major emerging economies like China and India. However, Georgieva seems poised to continue as head of the IMF for another term.
