Bulgaria’s Kristalina Georgieva is in the line to become IMF’s second-ever female chief, as Christine Lagarde makes exit to head the European Central Bank.
Bulgaria’s Kristalina Georgieva is in the line to become IMF’s second-ever female chief, as Christine Lagarde makes exit to head the European Central Bank. Currently on leave as the World Bank’s chief executive officer, Georgieva is now officially unopposed in the race, the IMF said on Monday. With nominating period getting closed on Friday, the age limit of 65 years was removed making the 66-year old unopposed for the top role. “The board’s goal is to complete the selection process as soon as possible and at the latest by October 4, 2019,” the IMF board said in a statement.
Kristalina Georgieva has also been Chief Executive of the World Bank since 2017. She served as Acting President of the World Bank Group from 1 February 2019 to 8 April 2019. She previously served as Vice-President of the European Commission under Jean-Claude Juncker from 2014 to 2016.
Kristalina Georgieva would take up the new role at IMF amid a steady slowdown in the global economy and trade wars between nations. According to a recent survey by the National Association for Business Economics (NABE), a recession could hit the US by FY21. 34 per cent of the 226 economists surveyed showed worry over the policies of President Donald Trump, fearing that these could trigger a recession as early as 2020. Several global economies are at present suffering from daily stock market upset, largely on account of the US-China trade tension. The economists also say that the major recession indicator is the inversion of the benchmark US yield curve. In all nine US recessions since the 1950s, a key observation made by economists is the inversion of this curve.