Lagarde Gets Second Term At Imf

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BEVERLY HILLS, February 20, (THEWILL) – Christine Lagarde has been unanimously re-elected for a second term of five years as Managing Director of the International Monetary Fund (IMF).

In a statement by Aleksei Mozhin, Dean of the IMF’s executive board, the board praised Lagarde’s strong and wise leadership during her first term adding that there was no other candidate for the position.

“During turbulent times in the global economy, Lagarde strengthened the Fund’s ability to support its members with policy advice, capacity building and financing,” he said.

“Lagarde was the only candidate nominated for the post of Managing Director, and she was re-elected “by consensus.”

Lagarde, after the re-election, said: “I have been honoured to serve in the past five years, I greatly appreciate the continued trust and support of the fund's executive board and our 188 member countries.

“We have, I think, served the membership well — whether we have provided surveillance, financial support, to those who were in difficulties, or technical assistance and capacity building.

“The global economy is undergoing a number of important transitions and we are focused on helping our membership navigate these successfully.”

Largarde, a former French finance minister, who took over the reins from her fellow countryman, Dominique Strauss-Kahn, in 2011 when he was forced to resign after being embroiled in a sex scandal, was supported in her second-term bid by Germany, the US, Britain, France, China, Russia and many other nations.

She visited Nigeria two times in her first tenure at the IMF and is expected to have more concerns over economic policies in Africa's largest economy in her new term which begins on July 5.

Story by David Oputah