The International Monetary Fund (IMF) has selected Kristalina Georgieva to serve as its Managing Director for a second five-year term that commences on October 1st, 2024.
- Georgieva, a Bulgarian national, has been the Fund’s Managing Director since 2019.
- She previously served as Chief Executive Officer of the World Bank.
- She has a Ph.D. in Economic Science and an M.A. in Political Economy and Sociology.
“I am deeply grateful for the trust and support of the Fund’s Executive Board, representing our 190 members, and honoured to continue to lead the IMF as Managing Director for a second five-year term,” said Georgieva in a statement.
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Under her leadership, the IMF rolled out several innovative financing facilities, including the Resilience and Sustainability Facility and the Food Shock Window. The Fund also secured a 50 percent quota increase to bolster its permanent resources and agreed to add a third Sub-Saharan African chair to the IMF Board.
The move comes as Kenya awaits one of the largest disbursements of KSh 131 billion in June this year, at the end of the Fund’s 7th review of its lending programme with the Fund.
Source: kenyanwallstreet