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STORY: IMF / TRADE GEORGIEVA ARGENTINA
TRT: 02:40
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 12 SEPTEMBER 2019, WASHINGTON, DC
RECENT, WASHINGTON, DC
1. Wide shot, exterior IMF Headquarters
12 SEPTEMBER 2019, WASHINGTON, DC
2. Med shot, IMF Spokesperson Gerry Rice walks up to podium
3. Med shot, reporters
4. SOUNDBITE (English) Gerry Rice, IMF Spokesperson:
“We announced on Monday that Kristalina Georgieva was the candidate that had been forward by the membership. And she will begin a series interviews with Executive Directors next week. There will be a series of those interviews. And as I said, then we expect Madam Georgieva to meet with the entire Board on September the 24th. And what we've said is that we expect the Board to complete its selection by October 4th, at the latest.”
5. Med shot, reporter
6. SOUNDBITE (English) Gerry Rice, IMF Spokesperson:
“We have said in the past that trade tensions are a threat. I think what we are saying today is that they are not only a threat but are actually now beginning to weigh down the dynamism in the global economy.”
7. Med shot, reporter
8. SOUNDBITE (English) Gerry Rice, IMF Spokesperson:
“As I said in terms of the Fund's relationship with Argentina, discussions with the authorities, their crisis response measures and overall macroeconomic framework, those discussions continue. And as I said, the complex market conditions and policy uncertainty going forward, make the situation even more difficult.”
9. Med shot, reporter
10. SOUNDBITE (English) Gerry Rice, IMF Spokesperson:
“When we do those things, when we try and help countries in crisis situations, it's not without risks. I think everybody recognizes that. And we're often called upon in situations where there are great risks and where the situation is already very fragile. And that was the case in Argentina as I described when we were requested to help about a year ago. The authorities approached the Fund in the midst of an already very difficult situation and we, you know, we have tried to help. So, I've kind of summarized that. We continue to try and help. We continue to be fully engaged.”
RECENT, WASHINGTON, DC
11. Wide shot, exterior IMF Headquarters
The IMF Board is set to act on placing a new Managing Director at the head of the Fund in coming weeks, spokesman Gerry Rice told reporters today (12 Sep) in Washington, DC.
The Executive Board will interview World Bank CEO Kristalina Georgieva on 24 September, with the aim of formally announcing her no later than 4 October.
Georgieva, 64-years-old Bulgarian, was the only nominee for the role, despite an open and transparent nomination period. If voted forward, she will become the second woman to lead the IMF, and the first from an emerging market nation in the 75-year history of the Fund.
She would take the reins at an uncertain time for the global economy. When asked about the Trump Administration’s announcement it would hold off implementing certain sanctions against China, Rice said the global economy is already feeling the impact of tensions.
Rice said, “we have said in the past that trade tensions are a threat. I think what we are saying today is that they are not only a threat but are actually now beginning to weigh down the dynamism in the global economy.”
The IMF has forecast that measures already announced may cut as much as 0.8 percent off the global economy in 2020 alone.
And the situation in Argentina remains delicate, but the IMF will be meeting with officials later this month to ‘take stock’ of where the program is and how to proceed.
Rice said, “in terms of the Fund's relationship with Argentina, discussions with the authorities, their crisis response measures and overall macroeconomic framework, those discussions continue. And as I said, the complex market conditions and policy uncertainty going forward, make the situation even more difficult.”
