Washington (AFP)
The IMF is preparing to appoint Bulgaria's Kristalina Georgieva, currently number 2 of the World Bank, as its managing director, who will have to deal with the slowdown in the global economy, the trade war or the crisis in Argentina.
Ms Georgieva, aged 66 since August 13, has benefited from a change of status of the International Monetary Fund, relating to the age limit, to make her candidacy valid.
Since 1951, the Fund's regulations prohibited the appointment of a candidate aged 65 or over to this position and did not allow the incumbent to perform his duties beyond his 70th birthday.
"The nomination period for the post of Director General was completed on Friday, September 6. A candidate, Ms. Kristalina Georgieva, currently World Bank Managing Director and a Bulgarian national, has confirmed her willingness to be a candidate." announced Monday the IMF.
The Board will now hold meetings between the sole nominee and the directors for nomination no later than October 4, shortly before the annual fall meetings.
Georgieva Kristalina, who is to replace Christine Lagarde, who has resigned to head the European Central Bank (ECB), has already started her tour with the leaders of the member countries to put forward her candidacy.
She recently posted on her Twitter account photos of her and Egyptian President Abdel Fattah al-Sissi with comments: "I share your commitment to the development of Africa."
Egypt is one of the many IMF member countries to have benefited from substantial aid (nearly $ 12 billion since 2016) in exchange for reform programs.
- "With energy and passion" -
Ms Georgieva, an economist by training, also visited Bulgaria, her home country, a few days ago, where she met with Prime Minister Boyko Borissov and the President of the National Bank Dimitar Radev.
With the global economy slowing down, particularly in Europe and the US-China trade war, Georgieva Kristalina will have to tackle a daunting task to urge countries to take the necessary steps to not derail the growth.
The economic crisis in Argentina is likely to be one of the most difficult issues in the short term as criticism increases against the IMF, which last year granted a loan of 57 billion dollars to the country in exchange for a cure. budgetary austerity.
The government of Argentina has recently requested a rescheduling of the debt while the first repayments were due in 2021.
The IMF recently said it will continue to stay with Argentina. But many people remember the year 2001 when the South American country, unable to meet the repayment deadlines of its debt, had experienced the largest defaults in history. The serious economic and social crisis had traumatized the Argentineans and the markets.
Short-haired, Kristalina Georgieva, cheerful and smiling, was named as the EU's candidate on 2 August after a close vote because of divisions in the EU.
With a solid experience in international finance, she also enjoys being a woman.
At the World Bank, where she spent most of her career before becoming Executive Director in 2017, she gained expertise in the field of the environment by multiplying functions in the areas of sustainable development and agricultural issues in particular.
In addition, she has worked extensively for women calling for better education for girls, banning laws that impede women's work, and encouraging women's entrepreneurship, particularly in Africa.
On this point, it should be part of the continuity of Christine Lagarde who has relentlessly shown her willingness to act in favor of gender equality, arguing, studies in support, that include more broadly women in the world of work represented substantial gains for the economy.
On March 8, 2019, on the occasion of International Women's Day, Kristalina Georgieva did not hesitate to be on the front of the stage by participating in a "flashmob" choreographed collective dance, alongside collaborators of the World Bank.
Dressed in a sweet pink T-shirt, she carried the following message: "We must break down the barriers that hold women and do it with energy and passion!"
© 2019 AFP