Grinding trade disputes are undermining the global economy, which is set to see its slowest growth in nearly a decade, the new IMF chief said on Tuesday. Research shows the impact of the trade conflict is widespread and countries must be ready to respond in unison with cash infusions, Kristalina Georgieva said in her first speech as managing director of the International Monetary Fund.
The International Monetary Fund on Wednesday formally selected Kristalina Georgieva of Bulgaria to be only the second woman ever to lead the 189-member institution. The selection had been all but guaranteed after the global crisis lender said earlier this month that Georgieva, a former World Bank CEO, was the sole candidate.
The 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.
The International Monetary Fund's board on Wednesday recommended a rule change that would scrap the age limit for its leader, clearing the path to the top job for Bulgaria's Kristalina Georgieva.
Known for rolling up her sleeves, Bulgaria's Kristalina Georgieva has been lauded as the life of the party, as well as for her tenacity. The guitar-playing environmental specialist, who was nominated on Friday as the EU's candidate to head the International Monetary Fund (IMF).
France is seen supporting Kristalina Georgieva to be the next head of the International Monetary Fund as the EU seeks to agree on a single candidate ahead of the lender's Sept 6 deadline, according to several European officials familiar with the deliberations.
World Bank President, Jim Yong Kim has made the surprise announcement that he is stepping down after six years in the post. His resignation will take effect from 1 February. Mr Kim, 59, was not due to leave until 2022, after he was re-elected for a second five-year term in 2017.
Europe is extremely concerned about the consequences of the instability in Libya which could mean a humanitarian crisis of proportions if Libyans take to the sea and try to reach the European continent in look of food, hope and jobs, warned the EU Commissioner for Food Aid Kristalina Georgieva.