(MENAFN) The Board of Directors of the International Monetary Fund (IMF) made an announcement on Thursday stating that Kristalina Georgieva, the current Director-General of the financial institution, is the sole candidate for the position following the conclusion of her current term. In their statement, the Board clarified that the deadline for submitting nominations for the next Director-General had passed on Wednesday, April 3, 2024. Consequently, they will proceed with the appointment process, which will involve conducting an interview with the only candidate, Ms. Georgieva, by the Council members.
Emphasizing the urgency of the appointment process, the Board expressed its intention to complete the process swiftly, aiming for completion by the end of April. This announcement comes after Georgieva, in an interview with Agence France-Presse in mid-March, reiterated her readiness to continue leading the institution. Her statements followed expressions of support from the finance ministers of the European Union, underscoring her willingness to assume responsibility if entrusted with the role.
According to sources familiar with the matter, the renewal of Georgieva's term may occur in the coming days, potentially even before the spring meetings of the International Monetary Fund and the World Bank scheduled to take place in Washington from April 15 to April 19. Traditionally, the Director-General of the IMF is nominated by European countries, while the President of the World Bank is nominated by the United States, reflecting established conventions within the governance structure of these international financial institutions.
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