IMF Board renews its director for another term

WASHINGTON, Feb 11 (KUNA) -- International Monetary Fund (IMF) Board of Directors have renewed its Managing Directors Christine Lagarde term for a second 5-year term.
The Dean of the Executive Board of the IMF Aleksei Mozhin made the statement on Thursday, adding that submitting nomination for the position of Managing Director closed yesterday and that one candidate, the current Director Christine Lagarde, has been nominated.
In a separate statement, US Secretary of Treasury Jacob Lew said that "Christine Lagarde has done an exceptional job leading the IMF for the last five years, guiding the Fund at a critical time for the global economy." "I've known Christine for many years, and I've seen time and again her ability to bring people together on major global issues and drive toward solutions," Lew added reiterating that "we are encouraged by the broad support she has secured (since 2011) among the Fund's membership, including from the emerging economies." (end) yt.mt