The IMF appointed Kristalina Georgieva for a second five-year term

The Executive Board of the IMF has confirmed that it has reappointed Kristalina Georgieva for a second five-year term at the head of the international financial institution.

Georgieva, who was the only candidate to head the International Monetary Fund, will continue in her duties when her current term ends on September 30, 2024.

The decision was taken by consensus, the IMF said in a statement. Georgieva has received support from key European allies in recent weeks.

Its priority areas for long-term investments are: climate, artificial intelligence and stimulating capital flows in Africa.

During Georgieva's tenure, the IMF has repeatedly helped countries experiencing financial difficulties during the Covid-19 pandemic, as well as the devastation caused by Russia's invasion of Ukraine, particularly in Europe.

By virtue of a controversial but decades-old agreement between Europe and the United States, the IMF has historically been led by a European and the World Bank by an American citizen./BGNES