Christine Lagarde is completing her first term at the helm of the International Monetary Fund. In an interview on French television, Ms. Lagarde said she is ready to run a second term on condition that the IMF Executive Board approves her candidacy.
There are hardly any contenders with a flawless reputation capable of leading one of the most powerful global lending institutions. The world media does not even speculate on other nominations. “I have had the honor since the opening of the procedure to receive support from France, Germany, Great Britain, China, South Korea, Mexico,” Christine Lagarde said. Importantly, the US, the IMF’s largest shareholder, has unofficially backed her bid for a new term. Her mandate as IMF Managing Director comes to an end in July 2016. At the annual World Economic Forum in the Swiss Alps, she confirmed her candidacy and secured instant support from global policymakers.
Christine Lagarde served as France’s Finance Minister until July 2011 throughout the presidency of Nicolas Sarkozy. She proved herself as a superb financier. Then, she took over the job as an IMF chief, replacing disgraced Dominique Strauss-Kahn. However, during the first five years, she has been targeted for her hawkish stance on restructuring debts. She revealed her resolute nature when negotiating a bailout for Greece. On the other hand, Lagarde has taken a completely different approach to Ukraine’s troubles. The IMF is always ready to make a concession to Kyiv, even to amend its by-laws.
