13:43 GMT +319 November 2019
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     Kristalina Georgieva

    EU Nominates Bulgaria's Georgieva as European Candidate to Lead IMF - Report

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    The EU has nominated Bulgarian economist and World Bank Group CEO Kristalina Georgieva as the European candidate to lead the International Monetary Fund (IMF), Reuters reported Friday.

    The only alternative nominee to Georgieva, Dutchman Jeroen Dijsselbloem, congratulated her on Twitter after a second-round vote in which she emerged as the clear winner.

    The European Commission President, Jean-Claude Juncker has also congratulated Kristalina Georgieva.

    "Congratulations, @KGeorgieva on your nomination as Europe’s candidate for Managing Director of the #IMF. You have all of the qualities needed to make an effective contribution to the IMF’s mission," Juncker wrote on Twitter late on Friday.

    In early June, then-director of the IMF, Christine Lagarde, relinquished her position so that she could become the next president of the European Central Bank.

    The executive board of the IMF has initiated the selection process for its next managing director, with the intention to complete the process on 4 October.

    In June, EU leaders attended a special summit to break a deadlock for the top jobs at the European Commission, Parliament, Council, European Central Bank and foreign policy.

    European governments have faced difficulties in agreeing on the IMF head candidacy, choosing between Georgieva, Portuguese Finance Minister and Eurogroup head Mario Centeno, former Dutch Finance Minister Jeroen Dijsselbloem, Nadia Calvino, the Spanish acting economy minister, and the Bank of Finland Governor, Olli Rehn. Centeno, Ren and Calvino subsequently withdrew their candidacies, so at the final stage of the voting on Friday, EU member states had to choose between Dijsselbloem and Georgieva.

     

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