George Osborne nominates Christine Lagarde for second IMF term

Posted On: 
21st January 2016

George Osborne has thrown his weight behind Christine Lagarde’s bid to remain at the helm of the International Monetary Fund.

The French former finance minister has been the IMF’s managing director since July 2011.

As the UK’s IMF governor, Mr Osborne recommended Ms Lagarde for the job in 2011 and has today formally nominated her for a second stint as the Fund’s boss.

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The Chancellor said she had “exhibited outstanding leadership” since 2011, “steering the Fund through big economic challenges, while working hard to deliver historic reforms to the IMF”.

He added: “At a time when the world faces what I’ve called a dangerous cocktail of risks, I believe Christine has the vision, energy and acumen to help steer the global economy through the years ahead.”

Nominations are open until 10 February, with no clear candidate to challenge Ms Lagarde’s leadership.

France, Spain and Germany have also supported her to remain in the job.

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Last month a French court ordered Ms Lagarde to face trial over an allegedly negligent payment to businessman Bernard Tapie while she was finance minister in France.

Ms Lagarde has said she will appeal against the court’s decision regarding the €400m payment.