The Board of Directors of the International Monetary Fund, Bulgarian Kristina Georgieva, who will meet with the world’s finance ministers and central bank governors at a general meeting this week, has voted with confidence.

What did Krisztalina Georgieva suspect? Being the Executive Director of the World Bank, one of the most important publications, Doing Business Editors to improve China’s rating, more specifically, not to underestimate it, as the Chinese had feared. Nobel laureate Joseph Stiglitz said a deal has been struck: The World Bank needs to raise capital, and it can only hope to get it from China after President Trump waved it. Beijing in return asked to be Doing Business Get a good rating in this post. Stiglitz knows the World Bank well because he has worked there before. He said the current head of the World Bank, who was appointed by Trump, was behind the scandal.

Joe Biden is in a difficult position because a Democrat and a Republican senator has asked him to look closely at Georgieva’s responsibilities, he writes Politico. In Washington, anti-China characterizes both major parties. However, Biden may have chosen to support his European allies, who have sided with Georgieva throughout. The French in particular fought for it. In any case, Paris insists that the head of the International Monetary Fund be European. In Europe and America, they know perfectly well that the Chinese also targeted this post. Both in Europe and America, they wanted to avoid the advance of the Chinese, and therefore Krisztalina Georgieva could remain in their position.

READ  Indicator - economy - that could hurt in the past if you've lived with a credit suspension

Why do they want to dig it?

According to Stiglitz, that was just an excuse Doing BusinessBecause, in fact, the major American banks did not agree to the policy of lending Georgieva. Interests over Argentina clashed: private creditors wanted to divest the bankrupt Latin American country, while Georgieva struggled for credit terms that took into account the debtor country’s repayment capabilities. The International Monetary Fund’s new lending policy seeks to avoid falling into Greece’s trap when the debtor-state has been harassed for decades, as its citizens are forced to contend with a permanent deterioration in living standards.

Who is Krisztalina Georgieva?

The Bulgarian economist returned to the World Bank in 2016 after being one of the EU’s most important commissioners for six years. Deal with the budget. There was no newbie at the World Bank, Georgieva, whose career rose to 17 years as Vice President. He also dealt with international lending there. The Bulgarian economist spent three years in this position and then moved to the International Monetary Fund, where he is now the first person. Her predecessor, Christine Lagarde, was appointed Governor of the European Central Bank. According to an old convention, Europe chairs the International Monetary Fund, and America chairs the World Bank, but the world has changed since then. With China at the fore, Asia is increasingly demanding a role in international financial organizations.

Krisztalina Georgieva also owes her position to the fact that neither the United States nor the European Union wants to abandon their combative leadership at the head of the IMF or the World Bank.

READ  Hundreds of thousands of hakedo.hu attacks

The General Assembly of the International Monetary Fund is now of particular importance because it can sign the international agreement on global corporate tax, he writes Politico. Hungary joined at the last minute, so 136 countries agreed that the global corporate tax should be 15%.



The number of editorial boards independent of power is steadily declining, and those that do still exist are trying to stay afloat under growing headwinds. At HVG, we persevere and never give in to pressure, bringing local and international news every day.

That’s why we ask you, our readers, to support us! We promise to continue to give you the best we can!