EU nominates Kristalina Georgieva for IMF Director

She will be succeeding Christine Lagarde

The EU has nominated World Bank Group CEO Kristalina Georgieva as European candidate to lead the International Monetary Fund (IMF), Reuters reported Friday.

In early June, then-director of the IMF Christine Lagarde relinquished her position to become the next president of the European Central Bank.

The executive board of the IMF has initiated the selection process for the Next Managing Director, with the intention to complete the process on 4 October.

In June, EU leaders attended a special summit to break the deadlock and decide who would win top jobs at the European Commission, Parliament, Council, European Central Bank and foreign policy.