FRANKFURT, Germany (AP) — European governments have decided to put forward World Bank official Kristalina Georgieva from Bulgaria as their candidate to replace Christine Lagarde as head of the Washington-based International Monetary Fund.
Georgieva prevailed in a vote Friday among EU governments over former Netherlands finance minister Jeroen Dijsselbloem, according to tweets from French Finance Minister Bruno Le Maire and European Commission President Jean-Claude Juncker.
Europe traditionally nominates the head of the IMF while a U.S. candidate becomes president of the World Bank, under a long-standing informal arrangement.
The IMF executive board must choose a replacement for Lagarde, who has been nominated to head the European Central Bank and resigned effective Sept. 12. The 189-country IMF, a key international financial institution, provides members with economic advice and financial assistance.
