Kristalina Georgieva takes office as IMF's new managing director

Kristalina Georgieva, who was recently elected Managing Director of the International Monetary Fund (IMF) for the next five years, will officially take up her post today.
The IMF announced Georgieva's appointment on 25 September. She will succeed Christine Lagarde, who will head the European Central Bank. Bulgaria’s Kristalina Georgieva is the first person from an emerging-market economy to lead the IMF since its inception in 1944, according to the Fund.

In her post-election speech, Georgieva, who previously held various leadership positions at the World Bank and the European Union, stressed the need to ensure stability in the global economic and financial system through cooperation.

"I am taking office at a time when global economy is facing many risks. Our immediate priority is to help countries minimize the risk of economic downturn and be ready to cope with it, should it occur. In the long run, we have a big, noble objective – to help countries build stronger economies and improve people’s lives," said the new IMF managing director.