Who was appointed as Managing Director of the International Monetary Fund in October, 2019?

The correct answer is Kristalina Georgieva.

Key Points

• Kristalina Georgieva was appointed as the Managing Director of the International Monetary Fund (IMF) on October 1, 2019.
• She is the first person from an emerging market economy to lead the IMF.
• Georgieva succeeded Christine Lagarde, who resigned to become the President of the European Central Bank.
• Prior to her appointment at the IMF, Georgieva served as the CEO of the World Bank.
• Her appointment was confirmed by the IMF’s Executive Board, which represents the institution’s 189 member countries.

Additional Information

• International Monetary Fund (IMF)
  • The IMF is an international financial institution headquartered in Washington, D.C.
  • It was established in 1944 during the Bretton Woods Conference to promote international monetary cooperation.
  • The IMF provides financial support to member countries facing balance of payments problems.
  • It oversees the global financial system by monitoring exchange rates and balance of payments.
  • The IMF’s key functions include economic surveillance, financial assistance, and technical assistance.
• World Bank
  • The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for development projects.
  • It comprises two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
  • The World Bank's mission is to reduce poverty and support development.
  • It offers financial products and policy advice to help countries address specific challenges.
  • Kristalina Georgieva served as the CEO of the World Bank before joining the IMF.
• Christine Lagarde
  • Christine Lagarde served as the Managing Director of the IMF from 2011 to 2019.
  • She was the first woman to hold this position.
  • Lagarde resigned from the IMF to become the President of the European Central Bank.
  • Her tenure at the IMF was marked by significant global financial challenges, including the Eurozone crisis.
  • Lagarde has a background in law and previously served as the French Finance Minister.