Lagarde seeks 2nd term at IMF
Print Edition
CHRISTINE Lagarde, managing director of the International Monetary Fund, launched her campaign for a second term yesterday with ringing endorsements from a host of major economies — and a court case against her looming in her native France.
The former French finance minister who trained as a lawyer has no obvious challengers and has long been open to serving another five-year term. The prime ministers of Britain and France backed her publicly on Thursday.
“I am candidate to a new mandate. I was honored to receive from the start of the process the backing of France, Britain, Germany, China, Korea,” the 60-year-old told France 2 television in an interview from Davos.
Germany’s finance ministry weighed in with its own endorsement yesterday.
“Germany welcomes the renewed candidacy of Christine Lagarde for a further term as managing director of the IMF. Ms Lagarde was a prudent and successful crisis manager in the difficult times after the financial crisis,” the ministry said in a statement.
The first woman to head the IMF on her appointment in 2011, Lagarde has been dogged off-and-on since then for her role in a long-running business scandal while she was France’s finance minister.
Last month, a French judge ordered her to face trial for negligence in a special ministerial court over the 2008 payout of some 400 million euros (US$430 million) to businessman Bernard Tapie.
Tapie himself was ordered last year to repay the money, which he received as state compensation for a business transaction in which he later claimed he had been defrauded.
Lagarde has said she will appeal that decision.
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