By MAIMBOLWA MULIKELELA –
THE International Monetary Fund (IMF) executive board has re-appointed Christine Lagarde to serve as managing director of the Fund for a second five-year term.
The IMF communication department in Washington D.C said in a statement that the executive board selected Ms Lagarde to serve as managing director for another term effective July 5, this year.
The statement indicated that the board’s decision was taken by consensus.
Previously, Ms Lagarde held various ministerial posts in the French Government such as minister of economic affairs, finance and employment, agriculture and fishing, as well as trade in the Government of Dominique de Villepin.
She was the first woman to become Finance minister of a G8 economy and is the first woman to head the IMF.
Zambia was among the countries that tendered their support for the re-appointment of Ms Lagarde’s candidature for a second term.
Finance Minister Alexander Chikwanda last week said Ms Lagarde had demonstrated professionalism, and provided quality leadership and direction in tackling various policy issues at the IMF.
“Above all, she restored the confidence in the leadership of the IMF. Her vision and the way she handled the current world economic crisis is exceptional,” Mr Chikwanda said.
He said Ms Lagarde’s exceptional talent coupled with wide experience would provide invaluable leadership  to the IMF in handling pressing global economic issues.
And in congratulating Ms Lagarde, Governor of Banco de Mexico and chairperson of International Monetary and Financial Committee (IMFC), Agustín Carstens was confident that she would continue providing excellent and unwavering leadership.
“Ms Lagarde has led the Fund in a strong and highly effective manner during challenging times for the world economy. Her inspiring and strategic efforts have reinvigorated the Fund’s capabilities to support its global membership across a wide range of activities.
“Along with my IMFC colleagues, I am confident that she will continue to provide the excellent and unwavering leadership needed to ensure that the Fund remains at the centre of global efforts to strengthen the international monetary and financial system,” he said.
Mr Carstens  said he held a meeting with Ms Lagarde  where it was agreed on the need for a strong, broad-based policy response to boost global growth, confidence and to manage vulnerabilities.
“Along with my IMFC colleagues, I look forward to working closely with Ms Lagarde in the period ahead to address the needs of the Fund membership and to promote global stability.
“The IMFC will have an opportunity to discuss the global conjuncture and challenges, as well as the strategic direction of the Fund, at its next meeting set for April 15-16, 2016 in Washington, D.C,” he said.