Christine Lagarde launched her campaign for a second term as managing director of the International Monetary Fund on Friday with ringing endorsements from a host of major economies that looked past a court case against her in her native France.
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He described her as “an outstanding leader with vision and acumen to steer global economy in years ahead”.
British Finance Minister George Osborne on Thursday tweeted that he was “delighted to nominate” her for a new term and Germany’s finance ministry said she had been a “far-sighted and successful crisis manager in hard times”.
But she drew immediate endorsements from Germany, France, Britain, and the Netherlands, while the United States praised her performance in the role without giving its formal backing.
Some emerging countries were quick to offer their support.
The former French finance minister whose her term expires on July, 5 has been sued in France for allegedly paying over $428 million negligently to a businessman in 2008, during Nicholas Sarkozy’s term. “I think she has done a great job, you know”.
The fund’s 188 member countries will be keen to avoid adding to the negative publicity generated by the legal troubles of former IMF heads Dominique Strauss-Kahn and Rodrigo Rato, said Andrea Montanino, who served as an executive director at the fund until a year ago.
Ms Lagarde has said she will appeal against the judge’s order.
“Mexico is not going to present a candidate and backs France’s nomination”, the source said.
“The board has also reaffirmed its confidence and total trust in my ability to continue to manage the institution”, Ms. Lagarde said on CNBC. She or he will also be an effective communicator. The advice initially drew sharp criticism from her old colleagues-including from Christian Noyer, then France’s central-bank governor-but authorities ultimately heeded the counsel.
Lagarde guided the International Monetary Fund as the eurozone was plunged into crisis and her cool head has won her many admirers in the financial world. Late a year ago, she helped get China’s yuan included in the IMF’s elite basket of reserve currencies.
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Bertrand Benoit contributed to this article.
