New IMF chief Georgieva 'ready to be tested' as warning signals flash

  26 September 2019    Read: 1073
New IMF chief Georgieva

The economist who will succeed Christine Lagarde sets out her priorities at a busy time for the world's lender of last resort.

The new managing director of the International Monetary Fund (IMF) Kristalina Georgieva says she stands "ready to be tested" as the global economy battles threats on several fronts.

The Bulgarian economist was speaking shortly after it was confirmed she would succeed Christine Lagarde at the helm of the world's lender of last resort - starting work on 1 October.

Ms Georgieva was previously second in command at the World Bank and becomes the first leader of the organisation to hail from an emerging market economy.

Traditionally, IMF leaders are chosen from economic powerhouses in western Europe such as France and Germany.

French national Lagarde left the post to take up the job of replacing Mario Draghi as the president of the European Central Bank - the eurozone's central bank.

Ms Georgieva will hold the reins at the IMF at a time of growing protectionism in the global economy - a result of US president Donald Trump's "America First" agenda that has seen him rip up agreements and start a trade war with China.

The effects have been felt worldwide through a slump in demand - hurting export-dependent nations elsewhere.


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