International Monetary Fund (IMF) MD Kristalina Georgieva Tuesday nominated former IMF delegate Antoinette Sayeh to assume the role of a deputy managing director at the Fund.
Sayeh, from Liberia, was director of the IMF’s African Division during 2008-2016. She since has been at the Center for Global Development (CGD) think tank in Washington, having worked as Liberia’s finance minister from 2006 to 2008 and spent around two decades at the World Bank.
Sayeh would serve as one of four deputy managing directors under Georgieva; however, she would not oust David Lipton as the first deputy managing director, the Fund’s No. 2 position, which has a substantial impact on policies.
Lipton and Carla, a deputy managing director who’s the IMF’s CAO, are about to leave by February-end in the primary administration changes performed by Georgieva, a Bulgarian economist who took over as MD in October 2019.
Geoffrey Okamoto, a U.S. Treasury interim assistant secretary, has come as a leading candidate to succeed Lipton, supported by U.S. Treasury Secretary Steven Mnuchin.
Georgieva’s declaration neither specified Sayeh’s future portfolio at the IMF nor whether any modifications to deputy managing director duties would be made.
The IMF’s No. 2 official has been an American, while the Fund’s managing directors have been from Europe. The U.S. is the most important stakeholder in the IMF, with 16.5% of the voting power.