Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
Cloudy 40° Cloudy
News >  Business

IMF gives Christine Lagarde second term as managing director

Paul Wiseman Associated Press

WASHINGTON – The International Monetary Fund said Friday it is giving managing director Christine Lagarde a second five-year term.

Lagarde, the first woman to hold the post, was the only candidate nominated. Her new term starts July 5.

Lagarde, 60, was named the IMF’s 11th managing director in 2011. She has led the multinational lending agency through the European debt crisis and a period of global economic stagnation which she’s labeled as the “New Mediocre.”

In a statement, Aleksei Mozhin, dean of the IMF’s executive board, said board members were impressed with Lagarde’s “strong and wise leadership… During turbulent times in the global economy, Ms. Lagarde strengthened the fund’s ability to support its members.”

Before joining the IMF, she was an international lawyer. She also has served as France’s minister of trade, agriculture and finance. During the financial crisis of 2008, she led a council of European Union finance and economic ministers.

In December, France’s Court of Justice of the Republic ordered Lagarde to stand trial over her role in a 2008 arbitration ruling that gave $444 million to a French businessman. Lagarde, who was finance minister at the time, has denied wrongdoing. The prosecutor who investigated the payment had argued that the case against her should be dropped.

The Spokesman-Review Newspaper

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.


Annual health and dental insurance enrollment period open now

 (Courtesy Washington Healthplanfinder)
Sponsored

2020 has been a stressful year for myriad reasons.