Christine Lagarde appointed as MD of IMF for second term

Feb 21, 2016 08:12 IST

The Executive Board of the International Monetary Fund (IMF) on 19 February 2016 selected Christine Lagarde to serve as IMF Managing Director for a second five-year term starting on 5 July 2016.

Lagarde, the only candidate nominated for the post, was backed by the UK, Germany, China, and her home country, France, to stay on for another five years.

In her first term as MD of IMF, Lagarde has overseen an easing of Europe's sovereign debt crisis and has implemented changes to give greater influence in the Fund to emerging markets including China and Brazil.

About Christine Lagarde

Christine Lagarde is a French lawyer and Union for a Popular Movement politician who has been the MD of the IMF since 5 July 2011.

Previously, she held various ministerial posts in the French government. She was Minister of Economic Affairs, Finance and Employment and before that Minister of Agriculture and Fishing and Minister of Trade in the government of Dominique de Villepin.

She was the first woman to become finance minister of a G8 economy, and is the first woman to head the IMF.

She was the first female chairwoman of the international law firm Baker & McKenzie.

On 16 November 2009, the Financial Times ranked her the best Minister of Finance in the Eurozone.

In 2014, she was ranked the 5th most powerful woman in the world by Forbes magazine.

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