Christian Lagarde appointed as IMF chief again

Christian Lagarde, the same person who steered the IMF past the European financial crisis, has been re-appointed as its Managing Director for a second five-year term.

The Executive Board of the International Monetary Fund (IMF) yesterday 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.

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," Aleksei Mozhin, dean of the IMF Executive Board said.

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