Ethiopia Endorses EU’s Nominee for IMF’s Top Position

ADDIS ABEBA – Ethiopia has endorsed the European Union’s nominee for the top position of the International Monetary Fund (IMF).

Georgieva is likely to succeed Christine Lagarde, who has been chosen as Mario Draghi’s successor at the European Central Bank.

Reports say the Bulgarian Kristalina Georgieva is likely to succeed Christine Lagarde, who has been chosen as Mario Draghi’s successor at the European Central Bank.

The European Union nominated Kristalina Georgieva to lead the International Monetary Fund (IMF), ending weeks of impasse among 28 countries.

Prime Minister Abiy Ahmed has congratulated Georgieva for her nomination as Managing Director of IMF.

“A seasoned economist & strong woman leader, PM Abiy shared that he has no doubt Ms. Georgieva will provide sound leadership to the international organization,” said his office in a statement late Saturday.

Georgieva is currently serving as chief executive of the World Bank.

IMF member countries can make nominations until September 6, 2019. After that, the IMF board will interview the nominated candidates and aim to complete the process of selecting the IMF’s new head by October 4, 2019.

The IMF has always been led by a European, since the institution’s creation. In contrast, the United States gets to appoint the president of the World Bank.