EU Finance Ministers back Georgieva for second term at IMF

BRUSSELS: European Union Finance Ministers supported on Tuesday International Monetary Fund Managing Director Kristalina Georgieva for a second term at the helm of the lender of last resort, senior EU officials said.

The current five-year term of Georgieva, a Bulgarian national, ends on Sept 30.

Traditionally European countries recommend the managing director of the IMF while the United States usually recommends the head of the World Bank.

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“This was discussed over breakfast. There are no other candidates, I think a done deal,” one euro zone official said.

A second senior official confirmed the recommendation for Georgieva for a second term was a “done deal”.