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International Monetary Fund IMF approves Christine Lagarde to second term

The former France finance minister got the backing the US, Britain, France and China when the board opened nomination in January.

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The International Monetary Fund board has approved a five year second term for Christine Lagarde after going unchallenged.

The former France finance minister got the early backing the US, Britain, France and China when the board opened nomination in January.

“In taking this decision, the Board praised Ms. Lagarde’s strong and wise leadership during her first term,” the IMF’s executive board dean Aleksei Mozhin said in a statement. “During turbulent times in the global economy, Ms. Lagarde strengthened the Fund’s ability to support its members with policy advice, capacity building and financing.”

“Over the past five years, the IMF has adapted and strengthened its capacity to respond to its members’ needs and is well-prepared to help them meet the challenges of the future,” Lagarde said in a statement released by the IMF. “The Fund remains committed to its fundamental goal of helping to ensure global economic and financial stability through international cooperation.”

The former French finance minister has been in charge of the IMF since 2011 after replacing Dominique Strauss-Kahn. She is also the first female managing director of IMF.

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