World Bank's Georgieva approved as new IMF chief

Eric BARADAT / AFP

The International Monetary Fund (IMF) has confirmed Bulgarian economist Kristalina Georgieva as its new head.

"It is a huge responsibility to be at the helm of the IMF at a time when global economic growth continues to disappoint, trade tensions persist, and debt is at historically high levels," Georgieva said in a statement.

She will take over from Christine Lagarde, who is leaving to become head of the European Central Bank (ECB).

Georgieva, who was previously chief executive of the World Bank, becomes the first person from an emerging economy to lead the IMF.

More from Business

Coming Up on Dubai Eye

  • Lunch with Lloyd

    11:00am - 2:00pm

    No one knows entertainment better than veteran Dubai broadcaster Mark Lloyd.

  • Afternoons with Helen Farmer

    2:00pm - 5:00pm

    Every weekday afternoon, Helen Farmer will help you to navigate the highs and lows of life in the UAE. Stay up to date with what’s happening and where to go.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Meet Gift, female food delivery driver

    Gift came here from Nigeria and failed to find a job, until a pizza company offered her one. She's now one of the very few female delivery drivers in the UAE.

  • FARMER'S KITCHEN

    Farmer's Kitchen is back for 2021!
    With our partners Spinneys, we are going to help you wave goodbye to boring dinners, cluttered fridges, and lumpy leftovers!