IMF's Christine Lagarde confirms second term bid

International Monetary Fund Managing Director, Christine Lagarde has confirmed that she will run for a second five- year term.

“Yes I am candidate to a second mandate,” said Lagarde.

Germany, Britain, China, France, Mexico and Korea have so far backed her second bid.

“I was honoured to receive from the start of the process the backing,” said Lagarde.

Had a good meeting with #IMF-chief Christine Lagarde. NL fully supports her candidacy for a second term. #WEF16 pic.twitter.com/0jm0fImMV2

— Jeroen Dijsselbloem (J_Dijsselbloem) 21 Janvier 2016

The IMF opened nominations on wednesday, January 20.

The former French finance minister whose her term expires on July, 5 has been sued in France for allegedly paying over $428 million negligently to a businessman in 2008, during Nicholas Sarkozy’s term.

“My lawyers have appealed this decision. I still consider that I always acted in the state’s interest and within the law. I have my conscience for me in this affair. I hope the courts, when the judicial procedure ends, however long and difficult it might be, will agree with that, just as public prosecution has.”