UPDATED: IMF Executive Board Selects Christine Lagarde to Serve a Second Term as Managing Director

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The executive board of the International Monetary Fund, as expected, on Friday said it has selected IMF Managing Director Christine Lagarde to serve a second five-year term as head of the international financial organization. Lagarde was the only candidate nominated for the top spot at the IMF after leading countries indicated they planned to support her bid last month. Aleksei Mozhin, the IMF executive director for Russia and the dean of the IMF’s executive board, said in a statement that Lagarde had revitalized the IMF’s relations with emerging market and developing countries during her first term.

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