Bulgarian economist Kristalina Georgieva is expected to be confirmed on Wednesda...
NEW YORK/SOFIA - Bulgarian economist Kristalina Georgieva is expected to be confirmed on Wednesday as managing director of the International Monetary Fund, which would make her the first person from an emerging economy to head the global lender.
She will face a host of challenges as the head of the IMF, the world’s crisis lender with $1 trillion in firepower, including a global economic slowdown triggered by escalating trade tensions between the United States and China. The vote is largely ceremonial. Georgieva, backed by French President Emmanuel Macron, last month won support from the rest of the European Union, as well as tacit backing from the United States.
“Only 20 years ago, Bulgaria was among the countries with an IMF rescue program,” the leading financial newspaper Kapital said earlier this month. “The nomination of the former Bulgarian EU commissioner should be seen not only as her personal acknowledgement, but as a diplomatic success for the country.”
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