IMF chief Georgieva may stay on for second five-year term - Reuters

This was reported by Reuters, citing knowledgeable sources, Ukrinform reports.

As noted, the Bulgarian economist last week received the support of French Finance Minister Bruno Le Maire, who told reporters during the G20 meeting on financial issues in São Paulo that Georgieva had done a "great job" leading the organization and that France would support her for a second term.

Le Maire's support is crucial given that European countries traditionally nominate a candidate for the IMF head, although all EU members must agree to this, the agency writes. The final decision is made by the institution's board of directors.

Last week, Georgieva said that she was focused on her job, not on whether to run for a new term.

Georgieva's term expires on September 30. Sources familiar with the process of appointing the IMF chief say that the choice will be made quickly once Europe unites around a candidate.

Although Georgieva's term will end in just a few months, some people familiar with the matter believe it makes sense to make a decision before the IMF and World Bank spring meetings, which will take place April 15-20, so that the leadership issue does not overshadow an already busy agenda.

Georgieva is the second woman to lead the IMF and the first from an emerging market economy. She has also been instrumental in securing large loans for Ukraine, helping to raise additional funds to help its economy withstand the strain of a two-year war over the Russian invasion.

As Ukrinform reported, Georgieva became the head of the International Monetary Fund in 2019. Before that, the position was held by Christine Lagarde.