Largarde’s term extended

Christine Lagarde, 60, was elected unanimously to continue as the managing director of the International Monetary Fund for the next five years. She was backed by heavyweights like the United States, United Kingdom, China and her country, France, to be at the helm of affairs at the Washington- based organization.

Lagarde started her term in 2011, as the 11th director of the organization, was the first woman to hold the position. She not only had to rebuild the reputation of the organization, but also steer the organization through the economic stagnation of the Europe which she labeled as the “new mediocre.”

As the head of the policy-lending policy she had to navigate through geo-political tension in the Middle East, Greece and China, in order to maintain macroeconomic stability.

“I have been honored to serve in the past five years. We have, I think, served the membership well — whether we have provided surveillance, financial support, to those who were in difficulties, or technical assistance and capacity building,” said Lagarde at an event on Friday.

She has served as the Minister of Trade before taking over as the managing director of IMF. She has also been practicing International Law for over three decades now.

Source: CNBCThe Guardian

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