Lagarde gets second term in office as IMF chief

The International Monetary Fund (IMF) has given its Managing Director, Christine Lagarde, a new term of office till 2021.

The five-year tenure, which was approved by the International Monetary and Financial Committee (IMFC), was in recognition of Lagarde’s contribution in the face of challenging times for the world economy.

The Chairman of the IMFC and Governor of Banco de Mexico, Agustín Carstens, while congratulating her, affirmed that her reappointment to a second five-year term was in recognition of her inspiring and strategic efforts that have reinvigorated the Fund.

“Ms. Lagarde has led the Fund in a strong and highly effective manner during challenging times for the world economy. Her inspiring and strategic efforts have reinvigorated the Fund’s capabilities to support its global membership across a wide range of activities.

“Along with my IMFC colleagues, I am confident that she will continue to provide the excellent and unwavering leadership needed to ensure that the Fund remains at the center of global efforts to strengthen the international monetary and financial system.

“We agreed on the need for a strong, broad-based policy response to boost global growth and confidence and to manage vulnerabilities. Along with my IMFC colleagues, I look forward to working closely with Ms. Lagarde in the period ahead to address the needs of the Fund membership and to promote global stability.

“The IMFC will have an opportunity to discuss the global conjuncture and challenges, as well as the strategic direction of the Fund, at its next meeting on April 15-16, 2016 in Washington, D.C.”
Lagarde in her acceptance speech, said she was delighted to be given the opportunity to lead the IMF as Managing Director for a second term of five years, and greatly appreciates the continued trust and support of the Fund’s board and the entire 188 member countries.