The board of the IMF has selected on Christine Lagarde to serve as MD for the institution for the second term.

Mrs Lagarde’s tenure was supposed to expire by July this year. She put in her bid for the second term after receiving the support from several finance ministers like Chancellor of the Exchequer George Osborne.  

According to Christine Lagarde, she is grateful for the support given to her by the board and its member countries.

“I am delighted to be given the opportunity to lead the IMF as Managing Director for a second term of five years, and I greatly appreciate the continued trust and support of the Fund’s Executive Board and our 188 member countries”

 She adds that “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.

“The global economy is undergoing a number of important transitions and we are focused on helping our membership navigate these successfully—with our excellent staff delivering policy advice, capacity building and, where needed, financial support.

“The Fund remains committed to its fundamental goal of helping to ensure global economic and financial stability through international cooperation.

“I look forward to serving our membership and carrying out our critical mission in the period ahead.”