WASHINGTON — The managing director of the International Monetary Fund has told AFP she is making herself “available to serve” for a second five-year term running the Washington-based financial institution, shortly after she received the backing of European finance ministers.
“I’m not running to force people to choose me, I’m making myself available to serve, if people want me to serve,” IMF managing director Kristalina Georgieva said in a video call interview ahead of a speech in the UK city of Cambridge.
“I would bring to the job a determination for the Fund to be an institution that leans forward in addressing the most challenging problems we face,” she said.
The International Monetary Fund has begun the process of selecting its next managing director and intends to choose a candidate by the end of April, the global lender’s executive board said.
These challenges include boosting productivity and growth, “so more people have a better chance,” tackling elevated post-pandemic debt levels, and making the IMF “more inclusive and more representative, so it can enjoy the trust of our members and people,” she added.
The five-year term of the IMF’s current managing director, Georgieva, ends on Sept. 30.
“The Executive Board underscores the importance it places on the successful candidate having the requisite global standing to lead the Fund, which stands at the center of the global financial system,” the board said in a statement according to Reuters.
European Union finance ministers on Tuesday endorsed Georgieva for a second term at the helm of the lender of last resort.
Traditionally, European countries recommend the managing director of the IMF and the United States recommends the head of the World Bank.
Georgieva, 70, the IMF’s 12th managing director since its 1944 founding, said last week she would be honored to serve a second term heading the institution.
In its statement, the IMF’s board said it aims to reach a decision on the next managing director “by consensus.”
