La­garde wins se­cond term as IMF chief

The Pak Banker - - COMPANIES/BOSS -

Chris­tine La­garde will serve a se­cond term as head of the In­ter­na­tional Mon­e­tary Fund, its ex­ec­u­tive board said to­day. The 60-year-old for­mer French cab­i­net min­is­ter was the only can­di­date for the job. The fund's first fe­male man­ag­ing di­rec­tor last month won the back­ing of Ger­many, the U.K. and France, where she is fac- ing a le­gal bat­tle over her de­ci­sion to or­der a €400 mil­lion pay­ment to a busi­ness­man in 2007, while she was French fi­nance min­is­ter.

An IMF state­ment said that La­garde "played a crit­i­cal role in re­vi­tal­iz­ing the Fund's re­la­tions with its global mem­ber­ship, in­clud­ing its emerg­ing mar­ket and de­vel­op­ing mem­bers" in her first term. La­garde was first ap­pointed in 2011. Her new term will be­gin on July 5.

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