The executive board of the International Monetary Fund (IMF) renewed Kristalina Georgieva’s position as managing director for a second five-year term, it announced on April 12.

The decision was unanimously approved by the board. Georgieva was the sole candidate for the position, the IMF said.

She is the twelfth person to be IMF managing director, having replaced Christine Lagarde in 2019.

Since its inception, the IMF’s managing directors have all been European. Therefore, it is paramount that the