Christine Lagarde appointed for second term as International Monetary Fund(IMF) chief Friday February 19,2016

Christine Lagarde, who steered the International Monetary Fund(IMF) through some troubled times including the Eupropean financial crisis, has been re-appointed as its Managing Director for a second five-year term after an uncontested election.

The Executive Board of the International Monetary Fund (IMF) on Friday February 19,2016 selected 60-year-old Lagarde to serve as IMF Managing Director for a second five-year term starting on July 5, 2016, IMF said in a statement. The Board’s decision was taken by consensus.

Christine Lagarde, France’s former finance minister secured early backing from many of the fund’s most powerful members when the IMF’s executive board launched the selection process in January, keeping other contenders from making an alternate bid and ensuring her a second term.

“In taking this decision, the Board praised Ms. Lagarde’s strong and wise leadership during her first term,” said Aleksei Mozhin, dean of the IMF Executive Board.