On September 26, Kristalina Georgieva, who served as a Bulgarian ecomist in a communist country has been positioned as new Chief of capitalism’s premier institutes, 189-nation International Monetary Fund. Georgieva was selected by executive board of directors of IMF on September 25, as new fund’s Managing director. She is one of top officials in World Bank. She will replace Christine Lagarde who will re-positioned as he of European Central Bank.

biggest challenge to deal with ecomic slowdown 

International Monetary Fund is lending institutions which provides countries with loans and funds at time of crisis to help overcome time of distress. new Chief of IMF is appointed at a time when re is ecomic turmoil. global ecomy is facing slowdown and ecomic crisis due to tension among world’s biggest ecomies China and US which are engd in a tre war. World ecomist has predicted that according to current scenario Global ecomy is progressing towards recession, which will soon hit markets. As per reports Argentina took largest loan of $57 billion from IMF due to ecomic downfall. This bailout was considered as largest of all time.

Georgieva after she was approved by 24-member mination board as Chief, talked to reporters about challenges that need to be dressed which include declining global ecomic growth, Tre wars and high debt burden in several countries. In interview to international media, she said “ Warning signals are flashing and we must be rey to be tested,” she said. “My immediate priority for IMF is to help members minimize risk of crises and be rey to cope with downturns.”.

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Kristalina Georgieva belong to emerging ecomy 

Georgieva will officially take over as New IMF Chief on October 1. Georgieva was at . 2 position in World Bank since early 2017. She will be first fund leer who belongs to an emerging ecomy rar than following tritional European ecomic powers including Germany and France. During her tenure with World Bank, she was highly ackwledged for her efforts to increase capital of bank by $13 billion, along with a reform that justified key goal in Trump’s ministration by reducing bank’s lendings to rich developing countries like China. 

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Argentina fund issue

On or hand David Malpass as new leer of World Bank. Malpass belongs to Trump ministration, refore, continuing seven deces trition where leer of World Bank belongs to America and leer of IMF is chosen from a European country. biggest challenge for Georgieva will be to man IMF’s huge loan to Argentina as country is facing ecomic meltdown, as said by Eswar Pras who is an ecomics professor at Cornell University. Whereas David Lipton, Deputy IMF Managing Director told media that funds provided to Argentina will remain on hold until country is facing political and ecomic uncertainty. 

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