MOGADISHU (Halbeeg News) – Somali government has welcomed the endorsement of the nomination of Bulgaria’s Kristalina Georgieva by the executive board of the International Monetary Fund (IMF) on Wednesday.
In a twitter post, Somali minister for Finance, Abdirahman Duale Beileh on Thursday congratulated Georgieva for being the upcoming the IMF managing director for a five-year term starting on Oct. 1.
“Congratulations @KGeorgieva on your selection as the new Managing Director of @IMFNews. You did a great job @WorldBank and I look forward to working with you on #Somalia’s reforms at the Fund. Many congratulations on this great news and personal achievement,” he said in the post.
The new IMF chief said she assumes her position fully aware of the challenges. “Global economic growth continues to disappoint. Trade tensions persist and debt burdens are rising in many countries,” she said, noting that “warning signs are flashing.”
“My immediate priority for the IMF is to help members minimize the risk of crisis and be ready to cope with downturns should they occur,” Georgieva said. “And yet we should not lose sight of the longer-term objective to build stronger economies and improve people’s lives on the foundation of sound monetary, fiscal and structural policies.”
Georgieva, selected by the European Union to lead the IMF, has been the only nominee for the position.
She served on the European Commission starting in 2010, and has been CEO of the World Bank since January 2017. She was the interim president for the World Bank from February to April this year.
Georgieva, who succeeds France’s Christine Lagarde, is the first person from an emerging market economy to lead the IMF since its inception in 1944, the executive board said in a statement.
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