Kristalina Georgieva named as new IMF head

The International Monetary Fund(IMF) has named Bulgarian economist Kristalina Georgieva as its new head. Ms. Georgieva became the first person from an emerging economy to lead the IMF. She was previously the chief executive of the World Bank and will now succeed Christine Lagarde, who will become the head of the European Central Bank. The 66-year-old economist has studied political economy and sociology at the Karl Marx institute.