Divisions between the US and Europe over whether Kristalina Georgieva should remain in her post as the IMF chief are set to overshadow the fund’s flagship annual meetings this week as Washington wants her to go but European powers are more inclined to let her stay.
Georgieva’s position as the fund’s managing director has come under pressure since she was accused last month of manipulating data to favour China in a previous role at the World Bank. The 24 members of the IMF’s executive board are split into two camps, with the US and Japan, the fund’s two biggest shareholders, on one side, while France, Germany, Italy and the UK are more supportive, aligning with China and Russia on the issue, according to people briefed on the matter.
Despite a series of marathon meetings in recent days, the board has yet to reach a consensus. In a statement released late on Sunday following additional meetings with WilmerHale representatives and Georgieva, the IMF said the board made “further significant progress” in its assessment of the situation and would come to a decision “very soon”.