Christine Lagarde

Washington:(IANS) The International Monetary Fund (IMF) on Friday announced that it selected Christine Lagarde to serve as its leader for a second five-year term.

Lagarde, the sole candidate nominated for the post of the IMF chief, will start the second term from June 5.

The IMF said in the announcement that the decision was taken by consensus among its executive board.

Following the announcement, a jubilant Lagarde said: “I am delighted to be given the opportunity to lead the IMF as managing director for a second term of five years, and I greatly appreciate the continued trust and support of the fund’s executive board and our 188 member countries.”

The IMF praised Lagarde’s leadership during her first term. “Lagarde strengthened the fund’s ability to support its members with policy advice, capacity building, and financing. She has also played a critical role in revitalising the fund’s relations with its global membership, including its emerging market and developing members,” Aleksei Mozhin, dean of the IMF’s board, said in a statement.

Lagarde, a former French finance minister, took over as head of the IMF in 2011 following Dominique Strauss-Kahn’s resignation amid scandal. She is the first woman to lead the international organisation, Xinhua news agency reported.