The International Monetary Fund said Kristalina Georgieva will be its next managing director. She will take charge on 1 October. A Bulgarian national, she replaces Christine Lagarde, who left IMF to become head of the European Central Bank. She will be only the second woman to serve in the IMF’s top job and the first from an emerging economy. Georgieva was previously the European Commissioner in charge of the EU budget before she left at the end of 2016 to become CEO of the World Bank in January 2017, a job she has held since. She served for 3 months as the World Bank‘s interim president before David Malpass took charge of the global financial institution in April. Georgieva has a PhD in economic science from the University of National and World Economy in Bulgaria.