IMF officially starts process to find new managing director

The International Monetary Fund officially launched the selection process to find the organization next leader on Wednesday, with current managing director Kristalina Georgieva widely tipped for a second five-year term."The Executive Board has adopted an open, merit-based, and transparent process for the selection of the next Managing Director," the IMF executive board coordinators Afonso Bevilaqua and Abdullah BinZarah said in a statement.