The International Monetary Fund Board of Directors is expected to approve Kristalina Georgieva as managing director of the financial institution on Wednesday. The Bulgarian is the only candidate and enjoys the support of both the European Union and the United States.

On Tuesday, she was interviewed by the management of the International Monetary Fund and, according to Reuters, Georgieva convinced them she was fit for the post. 

So far, the position was occupied by Christine Lagarde, who is about to become the head of the European Central Bank.

The IMF approved a change in its statutes to remove the age requirement for the position of managing director,

so that the application of Ms Georgieva, who turned 66 on 13 August, would be valid.

In a statement, the IMF recalled that, since 1951, the general provisions prohibited the appointment of a candidate aged 65 or more as managing director and did not allow the holder to perform his functions after the age of 70.

Georgieva was named EU candidate for IMF chief on 2 August.