Christine Lagarde coy about second term as International Monetary Fund boss

Published: Thursday 21st January 2016 by The News Editor

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Christine Lagarde has refused to say whether she will seek a second term as head of the International Monetary Fund after both Britain and Germany gave her their backing.

Chancellor George Osborne issued a statement saying the Government had nominated her to stay in the post.

The German government quickly followed, with a finance ministry statement saying Ms Lagarde “was a circumspect and successful crisis manager during the difficult period after the financial crisis”.

Countries normally nominate their preferred candidate before the individual declares their intention to run.

At a panel in Davos, Switzerland, where the World Economic Forum is being held, Ms Lagarde said she was honoured but did not want to confirm whether she would agree to stand again.

The IMF has typically been run by a European official, while its sister organisation, the World Bank, by an American. Developing countries have increasingly opposed this informal arrangement.

Published: Thursday 21st January 2016 by The News Editor

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