A day after the IMF Executive Board selected Ms. Kristalina Georgieva as new IMF Managing Director, Gerry Rice, IMF spokesperson reiterated that she is the first emerging market economy representative to head the institution. 

“Madame Georgieva is indeed the first person from an emerging market country to head the IMF since its inception 75 years ago in 1944. So just to pause that we made a bit of history yesterday. I think its good history and all of us at the IMF are delighted to welcome Madame Georgieva to the Fund.” 

Mr. Rice also mentioned that after she was selected as Managing Director yesterday, she met with Argentina’s Finance Minister Lacunza at the IMF. It is notable as it was her first bilateral meeting with any government. 

“What Madame Georgieva said was, “I look forward to working with the Argentine authorities as I take up my duties on October 1. Argentina is an important member of the IMF and we want Argentina to succeed.” 

Prior to that, the day before yesterday, so the First Deputy Managing Director met with President Macri in New York as well as with the Minister Lacunza and Governor Sandleris and they had a discussion on the sideline of the UN General Assembly.  Mr. Rice characterized those meetings as productive, for they provided an opportunity to take stock of developments and talk about the broader macroeconomic framework.  

Also on Argentina, in responding to some inaccurate media reports today, Mr. Rice emphasized that the IMF’s continued and ongoing engagement with the country. 

“We continue to be fully engaged in the discussions with Argentina.  We continue to be fully committed to helping Argentina get back onto the path of long-term stability, sustainable growth.” 

“It is incorrect to say that the IMF has in some way put the relationship with Argentina on hold. That would be — that is incorrect.” 

The IMF expects another team from Buenos Aires to be here in Washington on October 14, at the beginning of this year’s IMF-World Bank Group Annual Meetings for discussions to continue.