Christine Lagarde has been re-appointed as its Managing Director for a second five-year term after an uncontested election. The Executive Board of the International Monetary Fund (IMF) on Friday 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.
The Board’s decision was taken by consensus. 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.