August 22, 2019 8:44 AM

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IMF executive board recommends scrapping age limit for Georgieva

<span style="color: #222222;">The International Monetary Fund's board today recommended a rule change that would scrap the age limit for its leader. This move considers as clearing the path to the top job for Bulgaria's Kristalina Georgieva.</span><br />'' <span style="color: #222222;"><br />'' The IMF steering committee representing the 189 member countries will have to vote on the recommendation, but it is expected to pass.</span><br />'' <span style="color: #222222;"><br />'' Georgieva, the European Union's candidate to serve as IMF managing director, turned 66 which makes her too old for the job by just a few days, under the rules in place since 1951 stipulating that candidates be 65 or younger.</span><br />'' <span style="color: #222222;"><br />'' If appointed, Georgieva would become the IMF's second female managing director after Christine Lagarde.</span><br />'' <span style="color: #222222;"><br />'' The global crisis lender plans to select a new leader to replace Lagarde by October 4.<br />''<br />''The change, which needs a simple majority of the governors, would bring IMF rules in line with the World Bank, whose president is not subject to an age limit.</span><br />

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