IMF re-elects Lagarde to second five-year term

The International Monetary Fund on Friday said its board re-elected Managing Director Christine Lagarde to a second five-year term, starting on July 5th.

Ms Lagarde, the only candidate nominated for the post, was elected “by consensus,” the IMF said in a statement.

Ms Lagarde, who took over the post in 2011, has overseen an easing of Europe's sovereign debt crisis and has implemented changes to give greater influence in the Fund to emerging markets including China and Brazil.

During her tenure, Lagarde has overseen the IMF’s handling of Europe’s sovereign debt crisis and steps by the IMF to give a greater voice to emerging markets like China. She also played a lead role in fashioning an international bailout for Ukraine.

Ms Lagarde, a former French official who chaired the Group of 20 in 2011, helped steer European fiscal policy during the 2007-2009 financial crisis and its aftermath.

- Reuters