Washington (AFP)

Bulgaria's Kristalina Georgieva officially became Wednesday the second woman to head the International Monetary Fund (IMF) with the primary objective of helping member countries cope with the economic downturn.

"I am taking up my new duties with a sense of the big challenges ahead," she said immediately after her appointment as Executive Director by the Board of Directors.

His term of office will start on 1 October for a period of five years.

"Global economic growth continues to disappoint, trade tensions persist, and the debt burden is increasing in many countries," she noted, also noting the "enormous responsibility" to lead this institution in this region. unfavorable situation.

"In this context, my immediate priority at the head of the IMF will be to help member countries minimize the risk of crises and be ready to cope with the economic downturn," she said while saying "deeply honored to have been chosen "for this position.

Ms. Georgieva, who was the executive director of the World Bank, was the only candidate in the running.

Aged 66, she had received, at the last minute, a change in the status of the Fund, relating to the age limit, to make its application valid.

An economist by training, she replaces Christine Lagarde who resigned to chair the European Central Bank (ECB).

In addition to the slowdown in the global economy, the economic crisis in Argentina will probably be one of the most difficult issues in the short term for Kristalina Georgieva.

Criticism has increased in recent weeks against the IMF, which last year granted a record loan of $ 57 billion to the country in difficulty.

The Fund has already disbursed $ 44 billion, in exchange for a budget austerity but Buenos Aires has asked for a rescheduling of its debt which raises doubts about its ability to repay, seeming to reconnect with a known scenario.

Technical meetings are currently being held in Washington in the presence of the Argentine authorities.

- Argentina -

Short-haired Kristalina Georgieva, cheerful and smiling, was named as the EU's candidate on 2 August after a tight vote due to divisions in the EU.

His supporters had nonetheless highlighted his strong experience in international finance.

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 sector 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 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.

She also paid tribute to her predecessor, "a great leader and a dear friend whose vision and hard work have contributed immensely to the success of the Fund".

The new CEO also said the IMF is a "unique institution with a great story". "From my point of view, the role of the Fund has never been so important," she said.

Taking no questions to the press on Wednesday, she promised to answer any questions at the next fall meeting in October.

© 2019 AFP