International Monetary Fund: Selecting a Managing Director

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I come as a firm believer in its mandate to help ensure the stability of the global economic and financial system through international cooperation. As I noted in my statement to the Executive Board, our immediate priority is to help countries minimize the risk of crises and be ready to cope with downturns.

This means also dealing with issues like inequalities, climate risks and rapid technological change. Working with my team, my goal is to further strengthen the Fund by making it even more forward-looking and attentive to the needs of our members. Thank you for the opportunity to present my candidacy for the position of Managing Director of the International Monetary Fund and for your time and valuable insights during our prior meetings.

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The next MD will take the helm of the Fund at a time when performance of the global economy continues to disappoint, risks from trade tensions have intensified, debt is at historically elevated levels and growth is subdued after a decade-long expansionary cycle. I put myself forward fully aware of the great responsibility your trust would entail should you select me for this position. Why do I want this job and why should I deserve your vote of confidence?

It has an essential role to advance sound macroeconomic policies. I know from personal experience the high costs of bad policies on economies and on people. My country went through a painful adjustment in the 90s, when it turned to the IMF to restore macroeconomic stability as a foundation for growth, employment and improvements in living standards.

Statement By Kristalina Georgieva On Her Selection As IMF Managing Director

Since then and throughout my career I have been committed to the promotion of rigorous economic policies. At the European Commission I took an active role in building a more resilient financial system and led important budget reforms. Second, I come to this Board Meeting with a strong track record in effective and efficient management of complex international organizations.

At both the European Commission and the World Bank I led reforms to strengthen efficiency and focus on results with attention to the performance and well-being of staff. Third, having worked in both advanced, as well as in emerging and developing countries, I am well attuned to different priorities and perspectives.

In an increasingly complex world, reaching consensus carries a higher premium and requires more effort and attention.

My most immediate priority, if elected, is defined by the conditions in the global economy and the challenges that it faces. Multiple factors - unpredictability of trade disputes, capital flow volatility, Brexit, conflicts and natural disasters able to cause supply-side shocks and massive economic disruptions — contribute to a heightened state of uncertainty.

Content related to Christine Lagarde

And the Fund should stand ready to provide financial support for countries in need. The Fund needs to be sure that programs remain relevant and that they reflect the full spectrum of changing circumstances.

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It should continue to engage evenhandedly with all countries experiencing more difficulties while giving ever closer attention to fragile and conflict-affected economies. David Malpass , a former US Treasury official who took office earlier this year as president of the World Bank, likewise faced no opposition. An economist by training, Georgieva was previously Bulgaria's EU commissioner from and served as the commission's vice president for budget and human resources from to In , she was a leading candidate to become United Nations secretary-general before losing out to former Portuguese premier Antonio Guterres.

Kristalina Georgieva named IMF managing director

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IMF Managing Director Press Conference

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IMF names Kristalina Georgieva as new head

Netflix makes deal to keep New York's Paris theater open Movies. Georgieva, who succeeds Christine Lagarde, is the first person from an emerging market economy to lead the IMF since its inception in The selection of Ms. Following interviews with Ms.