Kristalina Georgieva

The Executive Board of the International Monetary Fund, IMF, selected Kristalina Georgieva, 66, to serve as IMF Managing Director, the fund announced on Wednesday.

The Bulgarian national succeeds Christina Lagarde, who is departing to head the European Central Bank as of October 1.

The International Monetary Fund Board of Directors is expected to approve Kristalina Georgieva as managing director of the financial institution on Wednesday. The Bulgarian is the only candidate and enjoys the support of both the European Union and the United States.

,,Kristalina Georgieva has a long and successful track record at the IMF and the World Bank. It's about a talented and persistent person.'' This was stated by the financier Emil Harsev in the BNT Morning Bloc. This is not Bulgaria's application for this position, it is supported by all EU Member States, based on its personal qualities.

The European Parliament has voted Christine Lagarde's nomination as President of the European Central Bank.

Lawmakers voted 394 in favour, 206 against and with 49 abstentions in the parliament's plenary in Strasbourg.

The approval of Lagarde's nomination is uncertain, as the final decision on her appointment is taken by the European Council.

Investing $ 1.8 trillion over the next decade - in climate change adaptation measures - could bring in net benefits worth more than $ 7 trillion. These are the conclusions of a global cost-benefit analysis, outlining five strategies for adapting the world to climate change.

The International Monetary Fund has announced that it has approved a change in its statutes to remove the age requirement for the position of managing director, which removes the last obstacle to the nomination of Bulgarian Kristalina Georgieva, France Press reported.

The Board of Executive Directors of the International Monetary Fund has recommended that the age limit for the Managing Director of the Fund be dropped. This statement paves the way for Kristalina Georgieva, who is a candidate for the European Union, to head the IMF.

The International Monetary Fund has recommended the removal of the age limit for its managing director.

The measure is necessary because Kristalina Georgieva, selected by the 28 EU countries as candidate for Europe, exceed the limit.

The board requested the change to be accepted by the representatives of all 189 Member States.

The International Monetary Fund said on Wednesday its executive board recommended the removal of the age limit for its managing director, a move needed for European nominee Kristalina Georgieva to be approved for the job.

Russia will support the candidacy of Bulgaria's representative Kristalina Georgieva for the post of managing director of the International Monetary Fund. TASS reported about it, quoting a message on the website of the Russian Ministry of Finance.