Lagarde is only candidate to head IMF: official

2/11/2016 11:11:16 PM

(MENAFN- The Peninsula) ChristineLagarde Managing Director of the International Monetary Fund (IMF) attends the session "The Global Economic Outlook" during the annual meeting of the World Economic Forum (WEF) in Davos Switzerland in this January 23 2016 file photo. REUTERS

Washington:The International Monetary Fund said Thursday that its managing director Christine Lagarde is the sole candidate for the new term that begins in July.

Named to head the IMF in July 2011 for five years Lagarde officially entered her nomination for a second term on January 22. She has received numerous expressions of support from officials in Europe the United States and Latin America.

As the sole candidate Lagarde 60 is virtually assured a second term. The IMF executive board is expected to name the next managing director by March 3.

In 2011 Lagarde a former French finance minister easily won a contest with several developing country candidates to take over the IMF as Europe was sinking deep into economic crisis.

But her victory came amid criticism that the IMF's top job should not be locked down by a European as it has since the institution was created in 1944.

AFP

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