Kristalina Georgieva, who is currently the World Bank chief executive and a Bulgarian national, was nominated on 2 August by European governments for the position of IMF managing director (MD). However, as pointed out in a previous IMFBoss blog, Georgieva is 65 years old, meaning that the IMF would need to change its MD age limit rules for the board to officially appoint her as the new head of the Fund.
It was already reported in the Financial Times on 26 July that France had floated the idea of changing the age limit, but that the idea did not attract support from the board at the time. The article added that, “Nonetheless, people familiar with the matter said the age limit could still be tweaked at a later stage if Ms Georgieva emerged as the board’s choice.”
While officially, governments can still nominate candidates until 6 September, after which an “open, merit-based, and transparent selection process” should take place to suss out the very best candidate, upon Kristalina’s European nomination it seems the IMF executive board is already paving the way for her to assume the leadership position.Continue reading “The IMF is seeking to remove its age limit…”