The new Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, 65, was born in Sofia, Bulgaria in 1953.
A Bulgarian economist, she is the first person from Eastern Europe (Bulgaria) and an emerging economy to be appointed the head of the Fund.
She is the second woman to become the Managing Director of the IMF after Kristine Lagarde, who became the first woman to head the IMF when she took the helm in 2011.
Prior to her appointment, Ms Georgieva was on a leave of absence from her post as the chief executive officer at the World Bank and the European Commission.
Her predecessor, Ms Lagarde, 63, guided the IMF through the European sovereign debt crisis, which began about a month after she took office. She departs to head the European Central Bank.
Before her appointment at the World Bank, Ms Georgieva held numerous senior European Commission posts, including budget commissioner, and has deep knowledge of emerging market countries.
Her five-year term will begin on October 1, 2019.
Ms Georgieva joined the World Bank as an environmental economist in 1993.
She held various positions in the Bank, including the World Bank Country Director for the Russian Federation (2004-2007); Director for Sustainable Development (2007-2008); Vice President & Corporate Secretary (2008-2010).
The new IMF chief worked with the European Union between February 2010 and December 2018. She was the Vice President for Budget and Human Resources (2014 – 2017)
Kristalina Georgieva has extensive leadership and managerial experience, stemming from an influential array of senior public service posts in the World Bank. At the European Commission, she has been at the forefront of promoting sound economic policies, sustainable development, gender equality and poverty reduction.
From February to April 2019, she served as Interim President of the World Bank Group, following Jim Yong Kim’s resignation announcement.
Between February 2010 and December 2016, Ms Georgieva served in the European Commission and helped shape the agenda of the European Union.
As European Union Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, Ms Georgieva managed one of the world’s largest humanitarian aid budgets and established herself as an advocate for the growing number of crisis-affected people around the world.