IMF Approves Bulgaria’s Kristalina Georgieva as New Chief

WASHINGTON—The International Monetary Fund formally approved Bulgarian economist Kristalina Georgieva to be its next leader.

The IMF’s board of executive directors on Wednesday voted to select Ms. Georgieva for the role, effective Oct. 1. Currently the No. 2 official at the World Bank, she will take over from Christine Lagarde, who has been selected as the next president of the European Central Bank.