Kristalina Georgieva
Kristalina Georgieva is a Bulgarian economist who has been managing director of the International Monetary FundInternational Monetary FundThe International Monetary Fund (IMF) is an international financial institution conceived at the 1944 Bretton Woods conference, whose Articles entered into force in 1945 and which began operations on March 1, 1947; headquartered in Washington, it has 191 member countries and has been led by Managing Director Kristalina Georgieva since October 2019.Open the full entry since October 1, 2019, serving a second term from October 2024; she was previously chief executive of the World Bank, a vice-president of the European Commission and EU commissioner for international cooperation, humanitarian aid and crisis response.
Contents15 sections
Key facts
August 13, 1953Born in Sofia
The Bulgarian News Agency records that Kristalina Georgieva was born in Sofia on August 13, 1953.[1]
1977–1993Teaching at the University of National and World Economy
She holds an M.A. in political economy and sociology and a Ph.D. in economic science from the University of National and World Economy in Sofia, where she taught; the IMF’s 2019 CV gives 1977 to 1991, while the current IMF biography lists her as an associate professor from 1977 to 1993. She has written more than 100 publications, including the first microeconomics textbook in Bulgarian.[2][3]
She was a post-doctoral research fellow at the London School of EconomicsLondon School of Economics and Political ScienceThe London School of Economics and Political Science (LSE) is a specialist social science university in central London, founded in 1895 by members of the Fabian Society. It is known for research in economics, politics and social policy, and its alumni and staff include many Nobel laureates and national leaders.Open the full entry in 1987–1988 and, as a Fulbright Fellow at MIT in 1991–1992, co-taught a graduate course on economies in transition.[2]
1993–2010A Career at the World Bank
She joined the World Bank in 1993 as an environmental economist for Europe and Central Asia and went on to lead environment and social development for East Asia and the Pacific, become director for environment (2000), country director for the Russian Federation (2004) and director for sustainable development (2007), and in 2008 vice president and corporate secretary.[2][3]
February 2010EU Commissioner for Humanitarian Aid
September 10, 2014Vice-President for Budget and Human Resources
Jean-Claude Juncker named Georgieva vice-president for budget and human resources in the new European Commission, which took office in November 2014.[4]
2016A UN Secretary-General Bid and a Return to the World Bank
On September 28, 2016 the Bulgarian government nominated her for UN Secretary-General, replacing its earlier candidate, Irina Bokova.[5]
On October 28 the Commission announced she would leave by December 31, 2016 at the latest to become chief executive of the IBRD and IDA from January 2, 2017.[6]
January 2017–September 2019World Bank Chief Executive
October 1, 2019Managing Director of the IMF
On September 25, 2019 the IMF Executive Board selected her as managing director for a five-year term from October 1; the IMF said she was the first person from an emerging market economy to lead the Fund since 1944.[7]
September–October 2021: The Doing Business Data Controversy
On September 16, 2021 the World Bank released a WilmerHale investigation into data irregularities in Doing Business 2018 and 2020 and discontinued the report. The Bretton Woods Project summarised the investigation as finding that senior management, including then chief executive Georgieva, changed the 2018 methodology during capital-increase talks with China.[8]
Georgieva issued a statement the same day: “I disagree fundamentally with the findings and interpretations.” On October 11 the IMF Executive Board concluded its review, saying the material “did not conclusively demonstrate that the Managing Director played an improper role,” and reaffirmed its “full confidence in the Managing Director’s leadership.”[9][10]
January 14, 2024On AI and Jobs
Georgieva wrote on the IMF blog that almost 40% of global employment is exposed to AI and that about 60% of jobs in advanced economies may be affected; roughly half may benefit from AI integration through higher productivity, while for the other half AI could execute key tasks, lowering labour demand, wages and hiring, and in extreme cases some jobs may disappear. “In most scenarios, AI will likely worsen overall inequality,” she wrote.[11]
April 12, 2024Selected for a Second Term
As the sole candidate, she was selected by consensus by the IMF Executive Board for a second five-year term beginning October 1, 2024.[12]
September 17, 2025Bulgaria Proposes a State Order
Bulgaria’s cabinet proposed awarding her the Order of Stara Planina, First Class, for her contribution to the country’s reputation.[1]
October 2025–October 2026The World Economy in Uncertain Times
Speaking at the Milken Institute on October 8, 2025 she said, “Uncertainty is the new normal and it is here to stay.” At the Spring Meetings press conference on April 9, 2026 she said the Iran war would weaken global growth and the IMF would downgrade its forecast.[13][14]
As the IMF and World Bank Annual Meetings closed in Bangkok on October 18, 2026, she said it was “not your grandmother’s IMF.”[15]
Related Organizations, Websites, and Public Accounts
International Monetary Fund: Official biography: https://www.imf.org/en/About/senior-officials/Bios/kristalina-georgieva (opens in a new window)[3]
X: Personal account: https://x.com/KGeorgieva (opens in a new window)[16]
Sources
- Cabinet Proposes Balkan Range Order for Kristalina Georgieva (opens in a new window)
- Kristalina Georgieva – Curriculum Vitae (attachment to Press Release No. 19/328) (opens in a new window)
- Kristalina Georgieva (opens in a new window)
- Kristalina Georgieva Appointed European Commission Vice President for Budget and Human Resources (opens in a new window)
- Bulgarian government nominates Kristalina Georgieva to be UN Secretary-General (opens in a new window)
- Kristalina Georgieva Resigns from European Commission, Returns to World Bank (opens in a new window)
- IMF Executive Board Selects Kristalina Georgieva as Managing Director (opens in a new window)
- Global civil society achieves significant victory as World Bank discontinues contentious Doing Business report (opens in a new window)
- Statement by IMF Managing Director Kristalina Georgieva on the Report on Investigation of Data Irregularities in Doing Business 2018 and Doing Business 2020 (opens in a new window)
- IMF Reaffirms ‘Full Confidence’ In Georgieva After Probe Into Data-Rigging Claims (opens in a new window)
- AI Will Transform the Global Economy. Let’s Make Sure It Benefits Humanity. (opens in a new window)
- IMF Executive Board Selects Kristalina Georgieva to Serve a Second Term as Managing Director (opens in a new window)
- IMF chief warns of economic uncertainty, tells the world to ‘buckle up’ (opens in a new window)
- IMF chief warns that Iran war will slow global economic growth (opens in a new window)
- Thailand Won Gold, IMF Chief Says, as Bangkok Annual Meetings Close (opens in a new window)
- IMF Social Hub (opens in a new window)