The IMF executive board has officially reappointed Kristalina Georgieva for a second five-year term as Managing Director of the International Monetary Fund (IMF), confirming her continuation in office beyond September 30, 2024. Georgieva, who was the sole candidate for the position, expressed gratitude for the trust and support of the board and reaffirmed her commitment to serving the IMF's membership.

"I am deeply grateful for the trust and support of the Fund's Executive Board, representing our 190 members, and honored to continue to lead the IMF as Managing Director," Georgieva stated.

During her tenure since 2019, Georgieva has overseen the IMF's response to various global challenges, including financial difficulties arising from the COVID-19 pandemic and the impacts of Russia's invasion of Ukraine, particularly in Europe.

The decision to reappoint Georgieva was made by consensus, underscoring the board's confidence in her leadership despite previous allegations related to her tenure at the World Bank. In 2021, allegations were raised regarding amendments to a World Bank report to favor China, but after a thorough review, the IMF executive board dismissed the claims and reaffirmed support for Georgieva.

Georgieva's continuation as Managing Director maintains the longstanding tradition of a European leading the IMF, in accordance with an arrangement between Europe and the United States. This decision also ensures that upcoming meetings of global financial leaders hosted by the IMF and World Bank in Washington next week can proceed without distraction.