The European Union’s choice of Bulgarian economist Kristalina Georgieva as its candidate to run the International Monetary Fund has one obvious merit – forcing the IMF to practice what it preaches about retirement ages, writes tombuerkle.
European Union governments agreed on Aug. 2 to nominate Bulgarian economist Kristalina Georgieva to succeed Christine Lagarde as managing director of the International Monetary Fund. Georgieva has spent much of her career at the World Bank, serving as chief executive since 2017. She won a narrow victory in an internal EU vote against Jeroen Dijsselbloem, the former Dutch chair of the Eurogroup of finance ministers.
The IMF will have to amend a bylaw requiring managing directors to be younger than 65 when they are appointed if Georgieva, who turned 65 last year, is to be confirmed in the post. Members have until Sept. 6 to nominate candidates for the position, and the IMF aims to select a new chief by consensus by Oct. 4.
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