The new IMF leader is a rags to riches story

Georgieva opened her first bank account at age 34

The FT has a great profile of Kristalina Georgieva. She is now arguably the world’s top banker and she didn’t even open a bank account herself until she was 34.

Ms Georgieva had a relatively privileged upbringing in Sofia as the daughter of a civil engineer who supervised state road-building projects. Her father was the grandson of the celebrated 19th-century revolutionary Ivan Karshovski, a lawyer and journalist who took part in building the new Bulgarian state following independence from the Ottoman Empire.

But her adolescence became fraught after her father became severely ill, plunging the family into dire financial straits and teaching her some enduring lessons

She studied and became an academic in Bulgaria and eventually won a scholarship to study at the London School of Economics in 1987 where she found a bank and deposited her £361 grant and £21 she had brought with her from Bulgaria.

The profile also contains this interesting profile:

As she heads to the IMF, one top World Bank official questioned her suitability. “She doesn’t have the stature,” the official said. “She’s organised and keeps people happy – she’s a yes-person who will do what Macron, or whoever is powerful, wants.”

Argentina’s President better start sending Macron flowers.


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