WASHINGTON (Sputnik) — The International Monetary Fund (IMF) has selected current Managing Director Christine Lagarde to serve a second term at the helm of the organization, IMF Executive Board Dean Aleksei Mozhin said in a press release on Friday.
"The Executive Board of the International Monetary Fund (IMF) today selected Christine Lagarde to serve as IMF Managing Director for a second five-year term starting on July 5, 2016," the press release stated. "The Board’s decision was taken by consensus."
Lagarde, 60, has headed the IMF since 2011, when then Managing Director Dominique Strauss-Kahn left his post because of allegations on sexual harassment against him. Prior to joining the IMF, Lagarde served as Economic Minister of France.