IMF: Kristalina Georgieva is the only candidate for Managing Director

International Monetary Fund (IMF) Managing Director Kristalina Georgieva is the only candidate proposed by member states, the Washington-based institution's Executive Board said.
"The board of directors will continue the nomination process, with board members interviewing the candidate, Ms. Georgieva. The goal is to finalize the process as soon as possible, by the end of April," the statement said.
According to close sources, the reappointment could take place in the next few days, even before the IMF and World Bank spring meetings to be held from April 15 to 19 in Washington, AFP reports.
Traditionally, the managing director of the IMF is the candidate put forward by European countries and the president of the World Bank (WB) is the candidate put forward by the United States. It is a division that major developing countries, starting with China and India, are increasingly openly questioning.
However, the distribution of capital in these two institutions still gives the United States and the EU overwhelming power.
This process is taking place one year after the appointment of the new World Bank president, Ajay Banga, following a similar procedure that followed the resignation of his predecessor, David Malpass.
Nominated by the United States, Banga, who was born in India but is an American citizen, was the only candidate put forward by the Bank's member countries. /BGNES