Transcript of Statement by Kristalina Georgieva

September 25, 2019

Good afternoon, and thank you all for being here this afternoon for what is  for me a huge honor to stand in front of you as the next Managing Director of the International Monetary Fund. I want to thank the Fund's shareholders and the Executive Board for the trust that they just placed in me. 

I'm very fortunate to have had Christine Lagarde as my predecessor. Her vision, her leadership contributed so much to the success of the Fund over the last years. 

It is an unique institution. It has a tremendous history. And it has wonderful, hardworking, highly-committed stuff. And if there are staff of the IMF in the audience, may I see you? Well, thank you. I'm very very excited, very proud to be joining you. 

I step in this new role, as a firm believer in the mandate of the Fund. I have seen first hand in my own country and many others. Just how much the Fund matters to countries face with the crisis. And how important it is to forge a path to stability and sustainable growth. 

I assume my position fully aware of the challenges we face. Global economic growth continues to disappoint, trade tensions persist, and debt burdens are rising in many countries. And we soon discuss right here during the Annual Meetings, warning signs are flashing and we must be ready to be tested. 

In this environment, my immediate priority for the IMF is to help members minimize the risk of crisis, and be ready to cope with downturns, should they occur. 

And yet we should not lose sight of the longer term objectives. To build stronger economies, and improve people's lives on the foundation of sound monetary, fiscal, and structural policies. This is what we're here to do. 

And it also means dealing with long term challenges like inequalities, climate risks, rapid technological change. 

Working with my team with you and all others in this building, my goal is to strengthen the Fund by ensuring that it is well resourced, well governed, always evenhanded, forward looking, and attentive to the needs of all our members--- big and small, rich and poor. 

I look forward to working with all our countries 189 members, all or them. And of course, I very much look forward to getting to know the stuff of the Fund. I'm now one of you and I'm very proud of that, as I'm proud of the institution on the other side of the 19th street. 

I will start officially on October 1st. But as you can see I am already here, sleeves rolled, ready to work. Thank you all very much.
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