Bulgaria's Kristalina Georgieva is the new head of the International Monetary Fund, making her the crisis lender's first boss from an emerging-market economy. More here:
WASHINGTON/SOFIA - Bulgarian economist Kristalina Georgieva was confirmed on Wednesday as managing director of the International Monetary Fund, the first person from an emerging-market economy to head the world’s crisis lender with its $1 trillion in resources.
She will face a host of challenges as the head of the IMF, including a global economic slowdown triggered by escalating trade tensions between the United States and China, and historically high debt levels. Georgieva said her priority would be to help the bank’s 189 member countries minimize risks. The bank would aim to be attentive to all members, big or small, she added.
The world’s “major advanced economies continue to view the key international financial institutions as their fiefdoms,” he said. Georgieva replaces Christine Lagarde, who became the first woman to head the IMF when she took the helm in 2011. Lagarde, 63, guided the lender through the European sovereign debt crisis, which began about a month after she took office. She is departing to head the European Central Bank.
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