The International Monetary Fund which is abbreviated as IMF is an international financial institution, currently having 189 countries, aimed at reducing poverty, ensuring financial stability, encourage international trade, create various employment opportunities and boost the economy of countries around the world.
It’s headquarters is located at Washington DC in U. S. A. It has 2400 staffs currently working under it.
The organization first started at Bretton Woods Conference in the year 1944 when Harry Dexter White and John Maynard Keynes came up with the idea that an organization like this should be established.On 27 December 1945, it formally came into existence, starting with just 29 country members.
Currently, Kristalina Georgieva, who was previously the chief executive of the World Bank and also a Bulgarian Economist, is the Managing Director and Chairwoman of the organization.
She has held this post since October 1, 2019 after succeeding Christine Largade, who left to become the head of the European Central Bank (ECB). Surprisingly, Mrs. Georgieva was the only nominee for the post.
Who is Kristalina Georgieva?
Kristalina Ivanova Georgieva is an Economist by profession. Born on August 13, 1953 (66 years old). Her father studied Civil Engineering, he monitored the state road-building project, her grandfather, Ivan Karshovski, was a fervent Bulgarian revolutionary.
She made a thesis on “Environmental Protection Policy and Economic Growth in U. S. A”. Later in the late 1980s, she did post-graduate research on Natural Resource Economics and Environmental Policy at London School of Economics and also at Massachusetts Institute of Technology. She has written more than hundred(100) academic papers and has also written a textbook on microeconomics.
Georgieva also studied and acquired a Ph.D. in Political Economics and Sociology at Karl Marx Higher Institute of Economics(now the University of National and World Economy) in Sofia, located at Bulgaria.
She is a fluent English, Bulgarian and Russian speaker, with some knowledge of French. Her hobbies include; cooking various dishes, playing guitar, traveling and dancing to mention a few. She’s married to Kino Kinov and blessed with a child.
Some of her achievements are;
*She served as a member of the board of trustees and associated with Professor in economics in the University of National and World Economy in Bulgaria.
*On September 27, 2016, she was nominated for the post of the United Nations Secretary-General by the Bulgarian government.
*On 28 October, the World Bank announced that Georgieva would become the first CEO of the bank starting from January 2, 2017.
*On 29 September, 2019, Georgieva was to be the next Managing Director of the International Monetary Fund (IMF).
*In 2010,She was announced “European of the year” to acknowledge her especially in her handling of the humanitarian disasters in Haiti and Pakistan.
*She was honored with Devex Power in 2016 with purpose award due to her work in global development.
- In 2017, she was listed by a UK based company; Richiopia, with her being at number 2 out of 100 list of most influential people in Multifunctional Organisation.
*In 2019, Georgia was given an award of Princess Marina Sturdza in the Europe remarkable achievement awards.
*Also in 2019, she received the Foreign Policy Association medal. This award is only given to individuals who has demonstrated responsible internationalism and work to broaden public knowledge of international affairs.
On January 21, 2010, the European Commission president; José Manuel Barroso met with Georgieva. He told her that since she has a solid international experience and knowledge, she will contribute significantly in her capacity as a European Union (EU) commissioner.
On February 4, 2010, she was tested on her suitability for the post. Being a Selfless woman, she showed interest in Haiti, in that there is need to provide shelter and health care services to restore the proper functioning of the government.
During her time in office as the commissioner for International Cooperation, Humanitarian aid, and Crisis response, she managed one of the world’s largest humanitarian aid budgets and promoted the EU as a global champion for resilience and disaster risk reduction.
With passion, she encouraged the use of synergies between humanitarian aid and civil tools, which resulted in a more effective response to crises and disasters worldwide.