Kristalina Georgieva, the present Chief Executive Officier of the World Bank, is the only candidate said to have put in for the position of managing director of a sister organisation, the International Monetary Fund (IMF), its executive board confirmed Monday.
Nomination for the office, which has been held by a citizen of a member state in Europe since inception, ended on Friday, September 6, 2019, the board said.
“The period for submitting nominations for the position of the next Managing Director closed on Friday, September 6,” the board said in a release seen by Sahara Reporters.
“One nominee, Ms. Kristalina Georgieva, currently Chief Executive Officer of the World Bank, a Bulgarian national, has confirmed willingness to be considered as a candidate.
“The board will now proceed in line with the process described in the decision of July 26, including holding meetings between the candidate and executive Directors. The board’s goal is to complete the selection process as soon as possible, and at the latest by October 4, 2019.”
IMF had in July 2019 started the selection process for a new MD to replace Christine Laggard, who retired on July 5.
During the nomination period, the board made a proposal to the board of governors, asking them to remove the age limit on the office of IMF MD.
After the close of voting on the proposal on September 4, the age limit was removed.
This restriction prevented anyone aged 65 and above from becoming MD.
The restriction also made it impossible for the MD to stay passed their 70th birthday.
Georgievea, a former EU budget commissioner, would have been ineligible to contest without the removal of the restriction, as she turned 66 on August 13.