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IMF re-elects Christine Lagarde for second term


International Monetary fund, IMF, has re-elected Christine Lagarde as the managing director for the Fund for another five-year term.

The IMF Executive Board in a statement said the decision was by a consensus. The Board praised her ‘strong and wise leadership during her first term’.

The IMF board also commended Lagarde for playing a ‘critical role in revitalizing the fund’s relations with its member countries.

“Looking ahead, the Board also welcomed Ms. Lagarde’s emphasis on ensuring that the Fund remains agile in all its operations; well positioned to provide integrated advice across the full spectrum of issues that impact macroeconomic stability; and focused on meeting the needs of its entire membership,” the board said in a statement.

In response, Christine Lagarde said she hopes to continue to strengthen the institution.

“In the coming months, over the next five years, I hope to continue to strengthen this institution, make it stronger, more agile, more capable of integrating both the range of services we provide but also soliciting other institutions, and the international community to manage better the challenges of each of the countries that are members of the institution.”

Christine Lagarde, who stood unopposed, will begin her second term from July 5 this year.