Kristalina Georgieva occurs for the first Time as a new IMF Chief to the Public. The woman is an extraordinary phenomenon – the Eastern European is showered with praise from all sides. Restraint you will need.
There are all the stories about the new IMF Director, are to be found in the international press, a as the report to wonder about the “exceptionally vivid memory” of Kristalina Georgieva, when it comes to your own Bank-account. It actually pays exactly 361 pounds for a scholarship, and 21 pounds of their own Savings in a Bank in the centre of London, just around the corner from the London School of Economics, told the Economist of the “Financial Times”. This was in the year 1987, as Georgieva was 34 years old.
Now it is a financial institution, is by his own admission able to give a trillion dollars to its member States. This Tuesday, Kristalina Georgieva holds its first keynote speech as the new Director of the International monetary Fund IMF.
This “Fund” is actually much more, is located in the centre of Washington, one of the many pragmatic-looking office block, and only a few hundred meters away from a totally different beam building, the White house, its residents, U.S. President Donald Trump. The differences between the two could hardly be greater, and the neighbor may still prove to be the biggest Problem of the new IMF Director.
The headquarters of the IMF in Washington
The European Commission and the world Bank
“You are not to stray from conflict,” says a Georgieva, who already had their experiences with the US President, “but they do not seek conflict for its own sake,” said the acting EU competition Commissioner Margrethe Vestager about their former colleague. Among the many top jobs Georgiewas also as an EU Commissioner, not once, but twice, namely: Last you until 2015 as Vice-President of the Commission for the EU budget with a volume of around 160 billion Euro.
Afterwards, she took a Job that was a lot of money – at the world Bank, for Georgieva already in the past 17 years had worked As the managing Director and the Deputy Director of the world Bank, she worked with the capital increase in the Bank’s 13 billion dollars. Also there had to be fetched in addition to many other member countries, the United States of Donald Trump into the boat.
“Assertive, authoritative, high-efficient” it is called also (from the “Handelsblatt”), the “Süddeutsche Zeitung” characterizes it as “open, straightforward and competent”, the “Neue Zürcher Zeitung confirms: “certainly qualified.” And the “Financial Times” white reports on the New at the IMF, Mrs Georgieva listen to “Beethoven’s 5. Symphony, if you are prepared to make difficult decisions or big fights”.
The Bulgarian has acted for many international top jobs. In difficult decisions, and Fight there seems to be no lack in the future. In a first opinion, according to your choice Georgieva stated: “It is a huge responsibility to stand at the helm of the IMF at a time, in the global economic growth continued to be disappointing, trade, conflict and debt are at historically high levels.”
Protests against the IMF in Athens (in July 2015)
The neighbor in the White house
Much of that has to answer to your current neighbor to the White house directly to the trade wars with China and Europe, and will be the driving the debt of the United States to new highs. However, there are also quite a few that refer to the fact that the International monetary Fund, the Georgieva projecting well, even through his long time practiced politics to the rise of global populism has contributed.
One of the main tasks of the IMF with around 2700 employees, to ensure that it is global to major currency turmoil, debt crises. To do this, he forgives, if necessary, lend to over-indebted and payment difficulties of States. Greece knows a song to sing, that was often harsh and sometimes crude adjustment programmes. Critics scourged the monetary Fund as an example, representatives of neo – liberal economic and policy-setting programs. And it is precisely these programs, with their high costs for the population have played according to this reading of the populists in the hands.
Kristalina Georgieva, and her predecessor, Christine Lagarde (April 2018)
Already Georgiewas predecessor, Christine Lagarde, who is now President of the ECB, had controlled against. Countries with financial problems should not be as a supplicant treated, especially in times of global financial imbalances, issues such as gender justice and climate protection are now also for the IMF on the Agenda. It is expected that the new, otherwise as a politically conservative force Boss continues the path of its predecessor.
“High art of understatement”
Currently IMF loan to run, but programs in the amount of 70 billion US dollars in the world, still associated with strict conditions. To belong to borrowers in countries which are not exactly known for being a stronghold of democratic stability, among others: Argentina, Egypt and Ukraine. To quote from the just published annual report of the IMF: “in Order to preserve the international trading system and to modernise, is a common approach essential.” Neighboring Trump, however, as an avowed opponent of multilateral organizations and agreements. The IMF Chief is in need of your Beethoven.
As a counterbalance to the powerful man in the White house, the Economist Georgieva can be considered with a view to their whole biography. While Trump and his rich family and private wealth is looking to score points, is presented Georgieva as a child, easier conditions. Hardly a Portrait in the not your the Twitter entry is quoted: “My parents had very little education. I was the First in the family, got a doctorate.”
The “high art of understatement”, commented on, however, the German magazine “Cicero” – the Economist actually comes from a comparatively privileged circumstances in the Eastern bloc of the 1970s: The father of road-building engineer, the mother of the head of a national business in the centre of the capital. And a great-grandfather of the authors of the first Constitution of Bulgaria after the liberation from the Ottoman Empire.
The young Economics lecturer came anyway, even before the turning to your study stay at the prestigious School of Economics to London in 1987. Her doctoral work she had completed previously at the University of Economics in Sofia, which was named after Karl Marx – theme: “environmental protection and economic growth in the United States”.
(archive material)