IMF selects Kristalina Georgieva as new managing director

Responding to the International Monetary Fund's announcement today that it has selected Kristalina Georgieva as the next managing director, Nadia Daar, head of Oxfam's Washington DC office said:

"We congratulate Kristalina Georgieva and trust she will be a strong voice in the fight against inequality and an advocate for climate action and gender equality. These issues, which impact heavily on growth, stability and poverty, require strong political leadership from the IMF now, more than ever.

"We can't overstate the importance of improving the selection process for IMF managing director. The IMF’s board calls it "open, merit-based and transparent", but it is too politicized for a non-European candidate to be nominated or succeed. The status quo undermines the legitimacy of multilateralism at a time when we should be demonstrating its strength.”