IMF elects Christine Lagarde as chief for her second term

International Monetary Fund confirms Christine Lagarde as managing director for her second term

Photo by: Reuters
Photo by: Reuters

IMF Managing Director Lagarde attending the session "The Global Economic Outlook" during the annual meeting of the World Economic Forum in Davos.

The International Monetary Fund announced on Friday its board has re-elected Managing director Christine Lagarde to head the body for a second five-year term in office.

IMF nominations for the position closed mid-February with no challengers as she was the only person unanimously nominated. Legarde’s second term is expected to kick off on July 5.

An IMF statement said Lagarde was reappointed "by consensus."

During a brief news conference after her election, Lagarde said the IMF would continue to oversee turbulence in the china economy as Beijing transitions to bigger transparency in its economic strategies.

"Those transitions are not going to be just a walk-in-the-park. There will be difficulties on the way, turbulences, and it will not necessarily be as smooth as a walk-in-the-park," Lagarde said.

Legarde took over the post of IMF in 2011, She has monitored an easing of Europe’s sovereign debt crisis and implemented changes to give greater influence in the Fund to emerging global markets.

TRTWorld, Reuters