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EU countries are preparing to back Kristalina Georgieva for a second term as managing director of the IMF, paving the way for her formal nomination at the Spring Meetings in April in Washington.
Finance ministers of EU27 countries are expected to express support for her on Tuesday at a gathering in Brussels, people familiar with the discussions said. European backing is key to obtain the post, as the head of the IMF has historically been a European, while the World Bank, its sister institution, has historically been headed by an American.
Georgieva, a Bulgarian economist, was elected to the post in 2019. Her first term in office is set to expire at the end of September.
Georgieva is likely to formally announce her bid for a second term as soon as Friday, the people added. The IMF was not immediately available for comment.
France has already indicated it would support Georgieva for a second term. Finance Minister Bruno Le Maire said last week that she was “the right person, for the right job, at the right time,” adding that “when you have someone doing a great job, it’s always better to keep the same person at the same post”.
President of the Eurogroup Paschal Donohoe, who had been named as a possible candidate in case Georgieva did not run again, told the Financial Times: “Kristalina has done an excellent job as managing director of the IMF,” adding: “When she makes her intentions clear, I’m sure countries will respond back.”
Source: Economy - ft.com
